??China's Medical Expansion Overseas: Global Breakthroughs in Innovative Drugs and Medical Devices

In recent years, the Chinese pharmaceutical industry has seen rapid growth, driven by increasing domestic market competition and the attractive prospects of overseas markets. Over the past 20 years, the industry has flourished alongside China’s economic growth and rising healthcare demands. However, as policies like volume-based procurement, medical insurance, and DRG/DIP payments have slowed, many pharmaceutical companies are now eyeing global expansion as a new growth opportunity.

In the field of innovative drugs, the overseas market offers vast potential, with significant differences in pricing systems and insurance mechanisms compared to the domestic market, creating more opportunities for business expansion. In the medical device sector, Chinese products have continued to improve and now possess global competitiveness in various niches, making the overseas market a new driver for revenue growth.

The journey of Chinese pharmaceutical companies' internationalization has evolved from raw materials to generic drugs and now to innovative medicines. Currently, nearly 80% of innovative drug companies choose to license their products abroad, with transaction values reaching new highs. Meanwhile, the number of generic drugs approved by the US FDA through ANDA is steadily rising, with injectable products performing particularly well, showing strong growth potential in the global market.

The technological advancement of Chinese medical devices continues, with some areas reaching international standards. In imaging equipment, in vitro diagnostics, and other fields, Chinese products are beginning to replace imported ones, and the future outlook for global market expansion is promising.

The export of traditional Chinese medicine and biological products is also accelerating. Despite certain challenges, with the expansion of the global vaccine market and the maturity of domestic biopharmaceutical products, international market strategies are steadily taking shape.