INNOVATIVE MEDICINE IN CHINESE MARKET
WHAT
Swedish companies have an opportunity to capitalize on their technological expertise and innovative products to become key players in China’s innovative medicine ecosystem.
Since the introduction of the volume-based procurement (VBP) policy in 2018, the mature drug industry in China has faced significant downward pressure. As the policy normalized, innovative medicine become a critical growth driver of pharmaceutical industry.
The drug research and development process for innovative medicines involves several key stages:
- Concept validation of new targets, mechanisms, and structures
- Early drug discovery
- Preclinical safety evaluations
- Phase I, II, III clinical trials to assess safety and efficacy, etc.
HOW
- Swedish companies can focus on providing advanced technologies and solutions that address gaps in the Chinese market, such as integrated solutions combining cutting-edge equipment, software, and technical expertise. By addressing unmet technological needs, Swedish firms can establish themselves as key partners for Chinese pharmaceutical companies in innovative medicine sector.
- The Swedish Life Science Platform in China is run by Team Sweden (The Embassy of Sweden, The Swedish Consulate General in Shanghai, The Swedish Consulate in Hong Kong and Business Sweden). We have jointly chosen to prioritize life science as a platform to promote Swedish innovation and presence in the Chinese market.
CONTACT US
For more information contact Judy Zhao at judy.zhao@business-sweden.se.