Foreign players to play key role in China's cardiovascular disease approach
The country is heavily reliant on foreign players in CVD management.
Key foreign players are expected to play a crucial role in improving the overall cardiovascular disease (CVD) management approach in China, where the disease continues to be the leading cause of death, according to a report from GlobalData.
The number of diagnosed prevalent cases of CVDs such as dyslipidemia and heart failure in China is expected to rise at compound annual growth rates of 1.5% and 1.6%, respectively, from 2021 to 2025, said GlobalData.
As domestic companies are mostly involved in providing generic drugs for CVDs, China is heavily reliant on foreign players, the report noted.
“The rising prevalence of CVDs in China could take a heavy toll on public health. In the current scenario where the COVID-19 cases are increasing, disease management is the need of the hour for CVD patients in whom the infection could lead to severe complications,” said Neha Myneni, pharma analyst at GlobalData.
To address this issue, key players in China’s CVD market have been adopting various strategic approaches, including enhancing their research and development and manufacturing capabilities, and novel drug launches, GlobalData noted.
With a strong portfolio of marketed products and a global pipeline of late-stage novel molecules like pelacarsen sodium, inclisiran, and finerenone, western companies are expected to maintain their growth momentum in the Chinese CVD market, said Myneni.
“As a result, the strategic approaches adopted by key foreign companies are expected to improve the overall CVD management approach in China and help patients get a better treatment outcome,” she said.
Pharmaceutical sales in China are expected to grow at a compound annual growth rate (CAGR) of 5.7%, reaching $253b (CNY1.8t) by 2030, supported by continued interest and performance of multinational pharmaceutical firms, according to an earlier report from Fitch Solutions.
Foreign pharmaceutical firms have been very active in China over the past decades, with several companies investing more and setting up regional headquarters in the country, Fitch said.