China's oncology drug market has exceeded 140 billion. How should local pharmaceutical companies seize the opportunity?

Cancer is a disease that seriously threatens human health.
The number of cancer patients in China is huge, and it is increasing year by year
.
Relevant data show that the number of newly diagnosed cancer patients in China in 2020 has reached 4.
57 million
.
With the continuous improvement of modern medical level, the continuous acceleration of new drug research and development, and the inclusion of more and more anti-tumor drugs in medical insurance, the demand for anti-tumor drugs from a huge group of cancer patients continues to grow, driving the entire domestic anti-tumor drug market to continue to expand.
At present, China's anti-tumor drug market has exceeded 140 billion yuan, and there is still a lot of room for growth in the future
.
China's oncology drug market has exceeded 140 billion.
How should local pharmaceutical companies seize the opportunity? (Photo source: Pharmaceutical Network) But what needs to be seen is that, at present, the competition level of local anti-tumor drug companies is still difficult to compete with multinational pharmaceutical companies such as Bristol-Myers Squibb, Roche, and AstraZeneca
.
As multinational pharmaceutical companies entered the Chinese market earlier, their layout was relatively complete, and they occupied a relatively large market share, while local companies started late in the field of oncology research.
The giant Hengrui Medicine also accounts for only about 10% of its market share
.
So, in the face of the vast blue ocean of the market, how should local pharmaceutical companies seize the opportunity? In recent years, with the release of some policies to support pharmaceutical innovation such as centralized procurement and consistency evaluation, coupled with the continuous growth of market demand, China's oncology drug industry has ushered in opportunities for rapid development
.
Under the normalization of policies such as centralized procurement and medical insurance negotiation, more and more domestically produced good drugs and even new drugs with guaranteed quality that were launched in the same year are also included.
, some local pharmaceutical companies that originally had a certain market share in oncology drugs are expected to occupy a larger market share, and oncology drug companies with small market shares are expected to achieve "overtaking on the curve" after entering the centralized procurement
.
From the perspective of the industry, oncology drugs, especially new drugs, pose a great challenge to the commercialization capabilities of pharmaceutical companies, and active participation in centralized procurement and medical insurance negotiations is expected to reduce the commercialization costs of pharmaceutical companies and obtain large volumes in the market more quickly.

.
"The competition in the innovative drug market is already fierce.
For example, in the market for monoclonal antibodies, there are several that have already been launched and as many as hundreds of them are queuing up.
It is also necessary to treat centralized procurement and medical insurance negotiation with a positive attitude
.
" At present, more and more traditional pharmaceutical companies are transforming from the production of generic drugs to the exploration of innovative drugs and biosimilar drugs.
Innovative drug companies have gradually entered the harvest period, and many domestic innovative products with innovative strength have been recognized by the US FDA and other countries, and gradually enter the overseas market
.
However, in terms of overall strength, the innovation capabilities and R&D efforts of domestic innovative drug companies are still difficult to compare with multinational pharmaceutical giants.
Therefore, in the process of developing the anti-tumor market in the future, local pharmaceutical companies need to continue to increase their focus on new tumor drugs and R&D investment in the development of novel therapeutics
.
In recent years, it can also be seen that in order to encourage and support the research and development of local innovative drugs, relevant departments in China have also introduced a series of preferential policies such as talent incentive plans and special public research and development funds.
The development of the local innovative drug industry
.
In this context, local pharmaceutical companies should seize the opportunity and actively innovate to bring more new and good medicines to domestic cancer patients and help the domestic innovative drug market continue to grow
.