During the last 10 years, China’s influence in the global life sciences sector has increased considerably. Currently, China has a multitude of life science companies which are providing great services to its domestic market. These companies are increasing the access to medical products and are also working on the creation of the first vaccine that is pre-qualified by the World Health Organization (WHO). These innovations have led to an increase in confidence of the pharmaceutical companies. They are now on the quest to come up with medical innovation, which will be available throughout the globe, in a short period of time.
Fortunately for the Chinese Life Sciences sector, the government has been acting favorably. Government’s policies in this regard are aimed at strengthening the sector and free it from the norms, which are followed in other parts of the world. These policies have strict implications for the globalization of the market and its rules. This stance of the government will surely dictate the development of innovative models for the domestic market in China. And it just doesn’t stop there; this stance of the government will prove beneficial for these innovative models, as they will be exported to the internal markets as well.
With that in mind, this initiative tends to examine China’s life sciences sector, along with the implications for innovation in the international markets. Furthermore, it takes a close look at the drug approvals drug testing and the regulations of the market. It also analyzes the impacts growth in China’s life sciences sector will have over the relations between China and the United States of America. Doing so, it will be able to take into consideration the concerns of life science expert in China and the western world. It will also be able to capture the concerns of policy leaders, the industry, government leaders and the research experts.
Between the years 2014 and 2016, NBR commissioned a research with the leading scholars, all across the globe. This research was based on dialogues with several experts and representatives from the industry research and policy-making bodies. In order to do so, a number of briefings were held for the key representatives of life sciences and policy leaders from China and the US.
A growth in China’s life sciences sector will boost the quality of health facilities available within the country, and also contribute to China’s economic well-being.
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