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Viewing report
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Analysis Report on China’s Metformin & Diabetes Medicine Market
Sunfaith China Ltd, April 2005, Pages: 16
According to the statistical data from State Economic & Trade Commission, PRC, China’s total medicine industrial sales value in 2002 is RMB 234.2 billion, among which the chemical medicine sales value is RMB 121.39 billion, accounting for 51.8% of the total medicine industry. Industrial sales value of the state-owned enterprises accounts for 22.7% of the total sales value while that of the foreign enterprises accounts for 23.1%.
According to the statistics by National Bureau of Statistics, PRC, in 2001, total sales value of China’s medicine industry is RMB 205.5 billion while that in 2003 is RMB 292.9 billion, an increase of 42.5% compared with that in 2001. The annual growth rate is as high as 12.5%. In 2001, there are 3,830 pharmaceutical enterprises in China while that in 2003 is 4,634, an increase of 21% in comparison with that in 2001. The average growth rate from 2001 to 2003 is 7.1%.
China’s diabetes incidence rate has entered the rapid growth stage in the recent decade. It is estimated that there are 50 million people confronted with the diabetes threaten, which grows at an annual rate of 10%. It is forecasted that China’s diabetes incidence rate will exceed 10% from 2025 to 2050, which is the same as that in the developed countries.
Currently, competition in China’s diabetes medicine market is fairly fierce. In 2003, total hospital sales of the diabetes medicines are increased to RMB 1.46 billion, among which RMB 1.006 billion are the oral tablets, an increase of 52% within four years. Judging from the growth rate, the CAGR (compound annual growth rate) of China’s diabetes medicine market from 1999 to 2003 is 10.91% while that of the oral tablets is 4.39%. According to the forecast by China FDA, market sales value of the oral diabetes medicines from 2004 to 2006 will be RMB 1.04 billion, 1.08 billion and 1.13 billion respectively.
Currently, Metformin diabetes medicines rank the first place in the oral diabetes medicine market. In 2003, the market share is 20.1%. SU products account for 48%. As the Metformin diabetes medicines are characterized by sound blood sugar reduction efficiency and high security, plus the popular price, they remain the main diabetes medicine in the future market. The sales will grow stably.
From 2001 to 2003, China’s Metformin raw medicine production has been increased from 256.608 tons to 908.503 tons, an increase of 254% in the three years and an average growth of 52.4%. Exports has been increased from 24.425 tons in 2001 to 365.03 tons in 2003, an average annual increase of 146%. In terms of the production structure, in 2001, Metformin raw medicine accounts for 66% of the total diabetes raw medicines while in 2003, that is raised to 87%. Production proportion of other raw medicines has decreased from 34% in 2001 to 13%.
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