The China cancer drug market is experiencing exponential growth. According to a recent Research and Markets report there are about 5 million cancer patients in China now and by 2027 the market size will be over $35 billion. Cancer is rampant in China because of sedentary lifestyles, increases in Westernized diets, tobacco usage, and a quickly aging population. To combat this disease, China has several National Cancer centers, over 20 provincial cancer centers, and over 100 metropolitan-level cancer facilities. Lung, colorectal, stomach, and liver are the most prominent cancers in China, with breast cancer growing the quickest.
The number of new China clinical trials in the cancer area is growing too. For example, there are more Chimeric antigen receptor (CAR)-T cell therapy trials – which adjust a patient’s immune cells to attack cancer – being done in China than in the West. In addition to imported cancer drugs, China drug companies are now developing more independently. Finally, the NMPA is shortening the time for cancer drugs to get onto the National Reimbursement Drug list so that more Chinese patients can get access.
Written by: Ames Gross – President and Founder, Pacific Bridge Medical (PBM)
Mr. Gross founded PBM in 1988 and has helped hundreds of medical companies with business development and regulatory issues in Asia. He is recognized nationally and internationally as a leader in the Asian medical markets. Mr. Gross has a BA degree, Phi Beta Kappa, from the University of Pennsylvania and an MBA from Columbia University.
Source used in the article:https://www.lek.com/sites/default/files/insights/pdf-attachments/2202-China-Oncology-Market-Opportunities_v2.pdf