China’s Oncology Markets Growing Quickly

Cancer is a high priority in China. Incidence rates are rising quickly with lung, colorectal, stomach, liver, and breast being the most numerous. China’s local biotech companies are now focusing on cancer especially R&D in immune-oncology and cell therapies. More China biotechs are developing their own products, investing in Western biotech companies, and licensing products with China rights (like Zailab, Wuxi Biologics, and Beigene). Problems in China include late cancer diagnosis, inferior care at second-tier hospitals, and overall quality issues. Going forward,  China will rely more on AI and data analytics in their cancer diagnostic and treatment solutions.  Overall cancer care is improving, and private insurance, still only purchased by 1-2% of the China population, is providing additional reimbursement for the disease.