Research into Life Sciences in China
Both foreign academics and Chinese scientists have discovered China to be such an attractive country to establish their careers in life science. China’s remarkable global boom has been supported by the government’s rising focus on improving the quantity and quality of the China’s scientific research.
The Chinese universities and government and are increasing incentives to entice foreign talent and also to retain the Chinese scientist to establish careers in China. Compared to the West, funding for academic and scientific research is more available hence science professionals from across the globe are finding China to be more attractive.
Life sciences and healthcare in China is in the midst of hyper growth. The industry has had significant milestones transforming from a loose grouping of inward-looking domestic companies into an aggressive player in the global arena. These developments are hugely influenced by the government’s ambitious healthcare target and policy baking.
Today, both domestic and multinational companies in China are positioning themselves with enthusiasm as vital links in the global life science supply chain. In a decade, China is targeting to become a crucial player in the life science and healthcare industry with experts extrapolating that it will become a global leader in drug innovation and discovery.
In 2014-2015 financial years, the Ministry of Health proposed that the country would generate opportunities worth $500 billion and the life sciences and healthcare market now accounts for 5.6% of the global market which is incredibly impressive.
Vast Middle Class and High Growth
China is the fastest growing economy and is projected to be the largest by 2020. Also, the middle class in China is expected to be at 700 billion by 2020. Thus there would be high demand for upgraded healthcare systems
Chinese Government Support for Universal Healthcare
The 2009 healthcare reforms were as a result of the government’s determination to provide high-quality healthcare for its citizens and acted as a key driving force of the government towards major developments in the healthcare system.
Another prominent booster which triggered increased opportunities and investment for all life sciences and healthcare players was the 12th Five Year Plan. Including an introduction of M & A and consolidation, era to cope with the complex healthcare demands.
Changing Lifestyles and Urbanization Pressures
Studies show that by 2030, the urban population in China would have hit the 1 billion mark. China will have over 220 cities with over 1 million inhabitants. These developments are putting more pressure on the government to act or end up suffering enormous healthcare challenges.
Disease prevention is paramount especially in high-density environments and also with the changing lifestyles and diet, more ailments arise hence need to figure out how to handle them.
Increasing Awareness of Healthcare and an Ageing Population
13.7% of the Chinese population is over 60 years old. This shows a significant number of people spending on social security and pensions thus a relatively large segment of consumers that are elders. Also, there is so much information now available on health hence increased awareness of healthcare needs. There is an increase in per capita health expenditure.
Chinese Research and Development
China is a country too large to be ignored, and this has been a narrative among individuals considering doing business in the country. There is an increasing number of Multinational Corporations who view China as a hub of nascent innovation in life sciences and have been setting up research and development (R & D) centres for new drug candidates that target the global market.
China has realised that moving up the value chain is vital to sustaining the future economic growth hence prioritising biotechnology as one of its seven strategic industries. Following this, China has made a significant investment in infrastructure and basic research to promote China as an R& D destination for life sciences.
Life Science Jobs in China
In the previous years, multinational pharmaceutical companies viewed China just as a base for production plants but in the last decade, the number of R&D centres established in China is commonly so that they can gain a footing in the emerging Chinese market. In turn, this has led to a lot of demand for R&D professionals in China.
The pharmaceuticals companies are also looking for Market Access specialists and businesses looking to introduce new products into PRC are looking for Medical Sales Representatives. There are so many other opportunities in life sciences and healthcare fields being one of the most in-demand life sciences jobs in China.
Research and Development Professionals
With the increasing number of R&D centres established in China over the last decade especially in Zhanjiang Hi-Tech Park. More Chinese Americans are traveling back home since the market has become more attractive and the incentives that they can’t say no to. The pharmaceutical R&D sector has been experiencing quite significant growth, but there is still more to come.
Market Access Specialists
These are needed to help with pricing, listing, reimbursing and government relations. The pharmaceutical companies are looking for market access experts and are mostly divided into sub-sections including MA strategy development, pricing and policy analysis, external accounts management systems, business partnerships and also communication.
These individuals guide the product development, clinical evidence to support marketing approval of company products and clinical representation to regulatory agencies. They play a vital role in the marketing and licensing of the pharmaceutical company’s products.
This work revolves around people who are involved in the preparation of scientific abstracts, posters and articles providing the information needed to build a sound process covering study protocols, sales collateral, training materials and marketing promotion documents.
Also, they directly listen to the market, conform the feedback of physicians and patients to drug development and ultimately introduce much-needed drugs into society. For business, the medical affairs teams include medical science liaisons and medical advisors, as well as medical communication teams which consist of medical writing/publication and medical information, are quite critical.
Biostatisticians are quite critical in the designing of clinical studies. They are involved in the formulation of the scientific questions, guiding clinical data collection and adopting suitable sampling techniques. All this is done to carry out statistical analysis in to find the data patterns and form an answer based on irrefutable evidence. Biostatisticians are also sought in the epidemiology or health related fields to prepare research material for comparison and publication.
The Coming Years
Market forces and government policies are increasingly shifting China’s life science industry from one of the generics to one that includes more innovative drugs. Over the coming decades, the global market will be shaped by China’s indigenous innovations pushing its companies up the global pharmaceutical value chain.
With much progress, China is expected to open more ample opportunities for investors and scientists. There so much money, funding and grants for scientists who would love to continue working on their research. It’s happening in China right now, and pharmaceuticals, medical devices and distribution sectors are experiencing the boom.
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