Drug distribution is a complex and sensitive process, which is why it’s essential that your product reach its target audience in the most effective way possible. That’s where Chinese OTC drug product distribution comes in. Since Chinese companies are so large and well-connected, they can help you reach a much wider audience than you would be able to on your own. They also have the experience and expertise to handle the delicate and often sensitive process of drug distribution. Browse our blog to learn more about the top trends in Chinese OTC drug product distribution, so that you can make the most of this important marketing tool.
The Increase in Chinese OTC Drug Product Distribution
Chinese OTC drug product distribution is booming. According to a report by TrendForce, the global Chinese OTC drug product market will grow from US$3.1 billion in 2016 to US$5.8 billion by 2021. This growth is due in part to China’s aging population and increasing demand for affordable healthcare services.
One of the key drivers of Chinese OTC drug product distribution is the government’s push for healthy living. In 2015, the Chinese government released a report that stated that over half of all deaths are due to non-communicable diseases such as cardiovascular disease and cancer. To address this issue, the government has enacted policies that encourage healthy lifestyle choices and improved access to healthcare. As a result, Chinese consumers are increasingly looking for affordable healthcare products that offer preventive measures against major health problems.
Chinese OTC drug product distributors are responding to this growth opportunity by developing new products and expanding their distribution networks. Some of the most popular Chinese OTC drug products include health supplements, skin care products, cold remedies, and painkillers.
Chinese OTC drug product distributors are also working to improve their customer service capabilities. This strategy is aimed at addressing one of the main complaints about Chinese medical products: poor quality control and lack of customer service support. In addition, many distributors are adding QR codes to their product packaging so customers can scan them with their smartphones to obtain more information about the product’s ingredients and dosage instructions.
The Development of New Delivery Methods for Chinese OTC Drug Products
The development of new delivery methods for Chinese OTC drug products is gaining increased attention as there is a growing demand for convenient and affordable medication. One such delivery method is oral inhalation, which is seen as an effective way to deliver medications to people who are unable to take them orally. Oral inhalation can be used to deliver a wide variety of medications, including asthma medications, diabetes treatments and pain relief drugs.
Another major trend in Chinese OTC drug product distribution is the increasing use of online platforms. Online platforms allow Chinese consumers to buy drugs directly from manufacturers or distributors without having to visit a physical pharmacy. This has made it easier and faster for consumers to find and purchase the medications they need, and it has also made it easier for manufacturers and distributors to reach a wider audience.
Finally, another major trend in Chinese OTC drug product distribution is the increasing use of smart technology. Smart technology allows manufacturers and distributors to track consumer behavior and trends, which helps them improve their products and services. This information can also help manufacturers determine which products to develop next, as well as identify potential market opportunities.
The Rise in Chinese Generic Drug Product Sales
The Chinese generic drug product industry is forecast to reach US$12.8 billion by 2020, according to a report released by the World Health Organization (WHO) in March of this year. This represents an increase of almost 50% from 2016 and is largely due to the country’s growing population and increased access to healthcare.
The key drivers of this growth are the government’s efforts to lower healthcare costs and improve standards of living, as well as increasing investment in innovation and development of new drugs. The pharmaceutical industry has responded by investing in developing generic drugs, which account for around 80% of China’s total otc drug product sales.
The market is dominated by three major companies: Shanda Group (Shanda), Sinopharm Group (Sinopharm) and Sun Pharmaceutical Industries Ltd. (Sun Pharma). These companies have been able to dominate the market through their large scale production capabilities, marketing muscle and R&D capabilities. They have also developed strong partnerships with other global drugmakers, allowing them to leverage their resources effectively.
Despite the significant competition from these large players, there are also a number of smaller players that are starting to gain prominence. These include Anhui Zhongyuan Pharmaceutical Sciences Co., Ltd., Chengdu Tianyi Pharmaceutical Research Institutes Co., Ltd., Guangzhou TIANYI Pharmaceuticals Co., Ltd., Zhejiang Daliang Pharmaceuticals Co., Ltd., Hefei Changsheng Biological Technology Development Corporation Limited and Shanghai Hu
The Impact of Counterfeit Drugs on the Chinese Market
Counterfeit drugs are a huge problem in China, where they account for around 30% of all medicines sold. They can be dangerous and even deadly, as was the case with the counterfeit version of the cancer drug Gleevec that caused over 60 deaths in 2011.
To combat this problem, Chinese authorities have taken various steps to try and stamp out counterfeiting. These include increased inspections of drug factories and enforcement of penalties against those who produce or sell counterfeit drugs.
In addition, the Chinese government has also tried to expand access to legitimate medications by investing in new health infrastructure and supporting research into new drugs. This has contributed to a decrease in the number of counterfeit medications available on the market.
Looking to take your business to the next level in China? Check out these top trends in Chinese OTC drug product distribution! With a population of over 1.3 billion people and growing, there’s no doubt that the Chinese market is a lucrative one for companies looking to launch their products. From Western-style pharmaceuticals to natural remedies, here are some of the hottest trends in Chinese OTC drug product distribution and how you can capitalize on them: