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1、China Life Sciences&Health Care TeamMarch 2025China LSHC Industry Survey China LSHC Industry Survey 2025 State of Industry in China2China Life Science&Health Care Industry Survey 2025 State of Industry in China 2025.For information,contact Deloitte China.Content Framework Results Questions&Deep-dive

2、China LSHC Business Outlook&ConsiderationsNew regulatory and technology impactNew shifts in business investment strategy Concluding insights Appendix3China Life Science&Health Care Industry Survey 2025 State of Industry in China 2025.For information,contact Deloitte China.Note:SOE State-owned Enterp

3、rise;POE Private-owned Enterprise;JV Joint Venture;WOFE Wolly Foreign-owned Enterprises:HC HealthcareSurvey period:January 2025(closed February 7,2025)Engaged 125 China-based Life Science&Health Care(LSHC)industry operators and investorsFramework56%11%25%8%WOFEJVPOESOE23%42%34%Chairman/CEOC-suite le

4、velOther management team74%4%18%4%BiopharmaMedTechDistributorsHC services46%23%15%16%Over 5 billion1-5 billion100 million-1billionLess than 100millionCompany type distributionIndustry sector distributionSeniority level distributionChina revenue(RMB)size distribution4China Life Science&Health Care In

5、dustry Survey 2025 State of Industry in China 2025.For information,contact Deloitte China.China LSHC outlook&considerations5China Life Science&Health Care Industry Survey 2025 State of Industry in China 2025.For information,contact Deloitte China.Note:Large cos company with 2024 revenue exceed RMB 1

6、 billion;SOE State-owned Enterprise;POE Private-owned Enterprise;WOFE Wolly Foreign-owned EnterprisesWhile Chinas business performance in 2024 exceeded that of 2023,it remained below expectations.Local players continued to face heightened commercialization pressures throughout the year China LSHC in

7、dustry outlook&considerations business performance26%34%40%31%29%40%Better thanplannedIn line with plansWorse thanplanned54%19%26%Better than 2023In line with 2023Worse than 2023How did your company perform(top line)in 2024?2025 Survey2024 SurveyCompared to previous year(2023)Compared to expectation

8、s/plans26%38%36%41%28%31%22%29%49%28%31%41%33%26%41%50%16%34%28%38%34%31%26%43%AllLarge cosSOE&POEWOFEBiopharma56%20%24%49%17%34%54%24%22%58%20%22%AllLarge cosSOE&POEWOFEBiopharmaKey observationsMajority(54%)of respondents saw their 2024 China business exceeded of 2023 One-fifth had no or little gro

9、wth,and foreign companies have nearly one-fourth with limited growth SOE/POE seem to have suffered moreBut expectations were higher While only 26%exceeded their plans a combined 60%reached plan or better(same last year)yet 40%came out worse Foreign companies were prudent in planning also 33%exceeded

10、 plan SOE/POE and MedTech to the contrary had ca.50%showing worse results than plannedBusiness performance45%18%36%MedTech14%32%55%36%32%32%MedTech6China Life Science&Health Care Industry Survey 2025 State of Industry in China 2025.For information,contact Deloitte China.Note:Large cos company with 2

11、024 revenue exceed RMB 1 billion;SOE State-owned Enterprise;POE Private-owned Enterprise;WOFE Wolly Foreign-owned EnterprisesThe overall economic value cycle remains the most critical factor for all stakeholders.Going-out remains important with rising attention in increased BD efforts for both local

12、 and foreign players China LSHC industry outlook&considerations75%58%50%44%38%24%11%81%57%38%50%40%23%11%Effects from the VBP policies or NRDLinclusionAchieving new product launchesHCP/Hospital access during the yearIncreased business developmentefforts(e.g.global or local drivenPartnering with loca

13、l organizations toreach a faster market penetrationLocalizing your supply chain in ChinaIncreased direct patient engagementYour 2024 business performance was mainly impacted by2025 Survey2024 SurveyAllLarge cosSOE&POEWOFELife ScienceC-suiteRank change:IncreaseDecreaseNo changeKey observationsPricing

14、 and new product launches have consistently been the top two influencing factors since our survey studies began in 2021Further strengthened regulatory oversight and medical reforms have made hospital access more critical than before,especially for foreign and life sciences companiesLocal SOE/POE com

15、panies are prioritizing external BD initiatives:going-out and/or actively look for overseas partners&license deals Foreign players continuously elevated their search for local/domestic assets As Chinas market access evolves,partnering models are becoming less of a priority for MNCs,with many have al

16、ready acted and accessed their effectiveness before moving into a new roundImpacting factors7China Life Science&Health Care Industry Survey 2025 State of Industry in China 2025.For information,contact Deloitte China.Note:Large cos company with 2024 revenue exceed RMB 1 billion;SOE State-owned Enterp

17、rise;POE Private-owned Enterprise;WOFE Wolly Foreign-owned EnterprisesCommercial initiatives and government affairs continue to be the top factors China LSHC industry outlook&considerations82%72%68%56%49%45%16%13%72%79%64%59%50%35%15%27%Marketing&sales teams have been adjustedto reflect new channels

18、Marketing&sales teams have been adjustedresulted from policies and regulatory impactGovernment affairs and relations havebecome more important than beforeR&D activities in China have had newresources been allocatedSupply chain arrangement have beenreviewed and trigger changes going forwardEnhanced(c

19、reated)and empowered adigital expert team based in ChinaArranged shared services support fromoutside China locationsEnlarged the scope of your shared servicecenter functions inside in ChinaWithin your organizational&business model,which are the key changes implemented in 2024?2025 Survey2024 SurveyK

20、ey observationsAllLarge cosSOE&POEWOFELife SciencexxC-suiteRank change:IncreaseDecreaseNo changeHigh ImportanceKey observationsOptimal Marketing&Sales team remains the focus for all(82%)Channel management is driving adjustments,while policy and regulatory adjustments have consequences as well(72%)Go

21、vernment affairs team capabilities continue to increase importance for foreign&large players,while SOE/POE see this reducing R&D activities have seen their resources reducing slightly of importance in particular for foreign companiesNearly 50%recognize the importance to have empowered digital teams

22、based in China,in particular for foreign companiesCompetency centers(SSC)in China seem to become less attractive(digital safety related concerns)Strategic initiative 8China Life Science&Health Care Industry Survey 2025 State of Industry in China 2025.For information,contact Deloitte China.Note:Large

23、 cos company with 2024 revenue exceed RMB 1 billion;SOE State-owned Enterprise;POE Private-owned Enterprise;WOFE Wolly Foreign-owned EnterprisesMore stakeholders are holding an overall optimistic outlook to China business in 2025,with local players being the most ambitious and bullish China LSHC ind

24、ustry outlook&considerations42%30%22%6%39%33%17%11%Top line revenue plan2025 considers agrowth of 10%Top line revenue plan2025 considers agrowth of 5-10%Top line revenue plan2025 considers agrowth of 5%Top line revenue plan2025 is expected todeclineHow do you foresee your China business outlook 2025

25、?2025 Survey2024 Survey42%33%21%5%39%38%17%6%63%24%7%5%48%33%13%6%35%30%28%7%34%34%22%9%44%31%20%4%40%34%17%9%AllLarge cosSOE&POEWOFEBiopharmaKey observationsThe industry maintains an optimistic outlook on Chinas business landscape in 2025,with only 6%expressing a negative perspective This is quite

26、the opposite to our survey study last year indicating that some market confidence is coming back Foreign players growth expectations are balanced,but a larger portion are expecting a lower growth%(China LSHC industry outlook&considerations33%47%39%17%13%45%32%33%9%11%Better than before,our Chinafocu

27、s has been further elevatedRemains the same,China has tocompete internally to obtainrequired investment for growthBecome less clear and readablethus we are more cautiousallocating investment to ChinaOther markets become moreappealing thus China business aregetting less resourcesRiskier with less rew

28、ard thanbefore,thus getting less resourcesto develop China businessHow is your current overall business outlook for China(next 3-5 years)?2025 Survey2024 SurveyAllLarge cosSOE&POEWOFE29%55%40%14%14%45%30%32%10%8%49%34%41%22%15%56%30%19%9%7%17%59%46%13%17%25%47%47%9%19%Key observationsThe China marke

29、ts significance endures recognition;however,it is no longer deemed the most favored among global markets,which has led to a cessation in the growth of its status and the level of attention received A large majority of foreign companies are seeing an increased internal competition when investing into

30、 China(59%-up by 25%)Local players are also facing higher resource constraints,thus becoming more cautious when other markets are becoming more appealing Overall risk&reward perception has not changed for foreign companies,as SOE/POE adjust substantiallyMarket sentiment10China Life Science&Health Ca

31、re Industry Survey 2025 State of Industry in China 2025.For information,contact Deloitte China.Note:Large cos company with 2024 revenue exceed RMB 1 billion;SOE State-owned Enterprise;POE Private-owned Enterprise;WOFE Wolly Foreign-owned EnterprisesThe value proposition has once again emerged as the

32、 paramount factor,influenced by the narrowing economic value window of innovative assets and the ongoing medical payment reforms China LSHC industry outlook&considerations50%49%45%40%40%18%50%52%37%38%35%17%Adjusting product portfolio reflecting priceconstraints&risks generated by VBP,NRDLor the com

33、petitive environment in ChinaCreate China specific governance modelthat differs from other marketsSearch for Chinese based assets for productportfolio localization or oversea ambitionsConsider build China localized system ordata house reflecting the compliance riskLeverage specific measures and favo

34、rablepolicies in the special zones(e.g.,FTZ,GBA,Hainan Boao,etc.)Consider raising local financial resourcesfrom third parties(debt),or seek for M&AIn your latest China market strategy,have you or are you considering the following actions:2025 Survey2024 SurveyAllLarge cosSOE&POEWOFELife ScienceC-sui

35、teRank change:IncreaseDecreaseNo changeKey observationsUnsurprisingly,the product portfolio remains to be a strategic focus,especially for foreign companiesLocal players and C-suite are increasingly prioritizing the development of innovative assets with global competency,aligning with the going-out

36、calls in 2024Large and foreign companies are prioritizing the localization of data infrastructure(move from#5 to#2),and is top#1 to the highest C-suite groupDespite the eased FDI regulations in special zones in 2024,the utilization of the special zone privilege for foreign players have declined In c

37、ontrast,local players are more into the special zone Strategic initiatives11China Life Science&Health Care Industry Survey 2025 State of Industry in China 2025.For information,contact Deloitte China.Note:Large cos company with 2024 revenue exceed RMB 1 billion;SOE State-owned Enterprise;POE Private-

38、owned Enterprise;WOFE Wolly Foreign-owned EnterprisesThere is scope to increase the emphasis on ESG(Environmental,Social,Governance)factors,particularly focusing on quantifiable E aspects related to reducing carbon footprint China LSHC industry outlook&considerations39%34%30%29%26%21%Created a speci

39、fic in-house team&capabilities covering these initiativesEngaged external resources to alignglobal plans with China specific contextAdjusting operational policies to reduceoverall carbon footprintSetting specific carbon reductionobjectives in China covering variousenergy&utilitiesRequiring third par

40、ties to adhere toclimate&sustainability objectivesConsidering adjusting overall supplychain model to enhance carbonfootprintClimate&sustainability objectives are being elevated in many corporates.Your China plans and initiatives are focused on AllLarge cosSOE&POEWOFELife ScienceC-suiteNew 2025Key ob

41、servationsOverall,ESG/carbon emission solutions are still lack of sufficient noticeFocus and emphasis seems to be on carbon emission related initiatives,likely because measurable and eventually generating support or incentivesYet nearly 40%of respondents have created dedicated in-house teams.Foreign

42、 companies tend to leverage global objectives and adjust them for the local environmentOperational policies adjustments,likely to have a direct link to expenses(travel)are top in mind for foreign companiesMore surprisingly,just 20%of respondents are considering a thorough review of the supply and va

43、lue chain as whole Strategic initiatives12China Life Science&Health Care Industry Survey 2025 State of Industry in China 2025.For information,contact Deloitte China.New regulatory and technology impact13China Life Science&Health Care Industry Survey 2025 State of Industry in China 2025.For informati

44、on,contact Deloitte China.Note:Large cos company with 2024 revenue exceed RMB 1 billion;SOE State-owned Enterprise;POE Private-owned Enterprise;WOFE Wolly Foreign-owned EnterprisesTapping into the global market,regulatory framework become more critical to both local and foreign players in China New

45、regulatory and technology impact13%13%7%20%16%14%42%44%46%46%46%45%45%43%46%35%38%41%AllLarge cosSOE&POEWOFEC-levelLife Science cosThe regulatory framework continued to evolve in China,has your perception shifted with data privacy framework changes noted in 2024?Your perception is that the framework

46、 has been relaxed during 2024Your perception is that the framework remain unchangedYour perception is that the framework has increased constraintsKey observationsNearly half of respondents feel the regulatory framework in China has increased over 2024,particularly to large and local players Local pl

47、ayers are actively seeking for going-out opportunities in 2024,and will have to address the regulatory restrictions surrounding data export Interestingly,20%of foreign players stated the framework has been relaxed in 2024 This may due to foreign companies typically possess a more robust compliance a

48、nd regulatory framework,which is already well-established and comprehensive in nature In addition,new compliance regulations were released in 2024,and it would be clearer for foreign companies to adopt instead of attempting by themselvesMarket sentiment14China Life Science&Health Care Industry Surve

49、y 2025 State of Industry in China 2025.For information,contact Deloitte China.Note:Large cos company with 2024 revenue exceed RMB 1 billion;SOE State-owned Enterprise;POE Private-owned Enterprise;WOFE Wolly Foreign-owned EnterprisesThe escalating impact of data privacy concerns and export restrictio

50、n is contributing to a more acute scenario in the development of C4C solution,rendering the situation increasingly critical New regulatory and technology impactAs the restrictions of data privacy and export rule continues to be strengthened in the regulatory framework in China,has your organization

51、been impacted？AllLarge cosSOE&POEWOFEC-suite51%63%49%37%2024202555%70%45%30%2024202537%44%63%56%2024202575%70%25%30%2024202554%60%46%40%20242025YesNo45%16%Less R&D/trial activities Specific China-only solutionsIncreased operating costsOf which are impacted25%49%14%34%32%15%10%48%13%19%41%18%23%More

52、R&D/trial activities 6%2%15%0%6%Key observationsThe data privacy&export restriction impact continues to evolve with updated regulations from time to time Nearly the half(45%)of the respondents highlight that such rules®ulations create higher operational costs(the portion changed from 36%to 45%thi

53、s year)The impact of R&D&clinical trials,while remaining relatively minor also increased to 16%-while in last year it was just 11%(nearly doubled!)China-specific solutions are cited by 25%of all respondents,while only 15%in prior year.Among foreign companies,there was no shift for 19%of respondents,

54、while the C-suite rise by 10%to 23%Business performance15China Life Science&Health Care Industry Survey 2025 State of Industry in China 2025.For information,contact Deloitte China.Note:Large cos company with 2024 revenue exceed RMB 1 billion;SOE State-owned Enterprise;POE Private-owned Enterprise;WO

55、FE Wolly Foreign-owned EnterprisesThe competition for talent has intensified amidst the growing adoption and deeper integration of smart and digital technologies across the entire industrial value chain New regulatory and technology impact44%43%34%34%30%40%48%38%32%24%Changed your talent model fordi

56、gital competenciesAllocated more resources to manageyour IT&data complianceframeworkAllocated more resources for 2025 tobuild more capabilities around data&IT security for your China businessDeployed local IT&data solutionsthat are different from the globaltoolsBuilt a China-based data house or init

57、iated an in-China data hosting structure planConsidering Chinas pace to technology changes and digital patient engagement,have you2025 Survey2024 SurveyAllLarge cosSOE&POEWOFELife ScienceC-suiteRank change:IncreaseDecreaseNo changeKey observationsDigital talent strategy is top in mind for 44%,recogn

58、izing that the talent model requires to be adapted to specific capabilities and competencies IT&data budgets(investment and resources)have stabilized,even reducing slightly while remaining a high priorityFor foreign companies,investments into ensuring adherence to the local compliance framework have

59、 become top#1 priorityIn last years survey just 24%recognized the need for China based solutions,this year this has jumped to 30%However,foreign players have been reviewing more the possibility to use existing global solutionsStrategic initiatives16China Life Science&Health Care Industry Survey 2025

60、 State of Industry in China 2025.For information,contact Deloitte China.Note:Large cos company with 2024 revenue exceed RMB 1 billion;SOE State-owned Enterprise;POE Private-owned Enterprise;WOFE Wolly Foreign-owned EnterprisesInnovation and market access continue to be the primary focus area for bus

61、iness,while the importance of localized operational capability also escalating fiercely New regulatory and technology impact56%55%54%43%39%33%20%59%52%46%52%35%36%20%New drug registrations and market access forinnovative assets will further be acceleratedand facilitatedDomestic companies will gain a

62、 furtherpreferential treatment in your marketsegmentsThe stepping up effort in applying AI anddigital technology throughout your businessvalue chainYour direct market and patient engagementneed adjustments to meet the new regulatoryand compliance requirementsChinas health administration will try tom

63、otivate foreign companies in licensing andpartnering deals to further localizeGlobal supply chain might require adjustmentsto further localize,increase domestic sourcingin your value chainYour imports are likely to attract higher dutiesor increased scrutiny on transfer pricingarrangementsWith Chinas

64、 regulatory environment keep adjusting,do you think that2025 Survey2024 SurveyAllLarge cosSOE&POEWOFELife ScienceC-suiteRank change:IncreaseDecreaseNo changeKey observationsSimilar to previous years,innovation and market access remain critical to all,especially to large companies(60%),foreign player

65、s(57%),and life sciences companies(58%)A majority continue to see a further acceleration of market access,thus also reducing the economic life-cycle overallFor SOE/POE players,the use of new technology and global partnering is more critical than market access(funding of R&D)Foreign players continue

66、to perceive a more favorable treatment to domestic companies,also due as local innovation elevatesThe boom of AI and smart technologies is impacting all players throughout the total value chainStrategic initiatives17China Life Science&Health Care Industry Survey 2025 State of Industry in China 2025.

67、For information,contact Deloitte China.New shifts in business investment strategy18China Life Science&Health Care Industry Survey 2025 State of Industry in China 2025.For information,contact Deloitte China.Note:Large cos company with 2024 revenue exceed RMB 1 billion;SOE State-owned Enterprise;POE P

68、rivate-owned Enterprise;WOFE Wolly Foreign-owned EnterprisesThe development of new channels remains crucial for all stakeholders,especially for local players New shifts in business investment strategy46%43%44%43%41%46%30%31%44%22%33%30%24%26%12%35%26%24%AllLarge cosSOE&POEWOFEC-levelLife Science cos

69、For new market channels beyond the traditional in hospital channel,has your company increased investment on these new channels?Yes,this investment be done through alliances with third parties.Yes,build the online business channel through own capability.No,have not increased emphasis into new distrib

70、ution channels.Key observationsSimilar to the last year,76%of all respondents are deploying new channels investments(directly or indirectly)In last years survey,a large majority of respondents opted for a partnering model(54%)while this year this has dropped significantly to just 46%Foreign companie

71、s showed a 66%preference for such partnering models last year;while this time just 43%have determined that internal teams equipped with the right tools can capture themselves that value(and data)Another big change from last year:35%of foreign players have not increase the investment in 2024 into new

72、 channels Mainly due to most have robust processes and teams already in place for a number of years nowStrategic initiatives19China Life Science&Health Care Industry Survey 2025 State of Industry in China 2025.For information,contact Deloitte China.Note:Large cos company with 2024 revenue exceed RMB

73、 1 billion;SOE State-owned Enterprise;POE Private-owned Enterprise;WOFE Wolly Foreign-owned EnterprisesEased foreign investment rules have intensified local competition,sparking a wave of investments throughout the value chain New shifts in business investment strategyWith the eased foreign investme

74、nt restrictions in 2024,has your organization increased the localization investment in below field as the China for China(C4C)initiatives:Key observationsAround two-third of respondents have increased R&D localization after the release of new foreign investment regulations Local players have increas

75、ed the R&D investment the most for the upcoming competition of oversea innovative assets YesNoKey observationsThe clinical trial and study development is slightly higher than the R&D,with ca.70%have increased the investmentLarge companies and local players have higher investment in the clinical tria

76、l and study field Key observationsOver two-third of respondents have increased supply chain localization investment,particularly for local playersForeign players are less impacted here,as the eased foreign investment are majorly for the R&D and clinical practiceKey observationsThe commercial capabil

77、ity is impacted the most as this factor determine the ROI directlyLike the other questions,the rise of the competitive awareness in local players is upsurged R&D localization66%66%83%57%65%34%34%17%43%35%AllLarge cosSOE&POEWOFEC-levelClinical trial/study development69%76%73%72%70%31%24%27%28%30%AllL

78、arge cosSOE&POEWOFEC-levelLocal supply chain68%66%83%57%66%32%34%17%43%34%AllLarge cosSOE&POEWOFEC-levelLocal commercial capabilities76%76%83%72%73%24%24%17%28%27%AllLarge cosSOE&POEWOFEC-levelStrategic initiatives20China Life Science&Health Care Industry Survey 2025 State of Industry in China 2025.

79、For information,contact Deloitte China.5.6 3.6 3.4 3.2 2.9 2.3 5.5 3.3 3.7 3.5 2.8 2.2 Market potential and patient populationneeds/demandPotential price adjustments resulting fromgovernment driven initiativesRight business model and supply chainalign with the global business includingappropriate tr

80、ansfer pricing policiesGlobal and local competition specific to theChina marketGovernment incentives including taxincentives and other government supportsSpecific patient support programs beingprioritized and favored by central/localgovernmentsNote:Large cos company with 2024 revenue exceed RMB 1 bi

81、llion;SOE State-owned Enterprise;POE Private-owned Enterprise;WOFE Wolly Foreign-owned EnterprisesScale continues to be a pivotal element and remains one of the main draws of Chinas market.The pace of medical reform has been accelerated,leading to increased pricing pressures New shifts in business i

82、nvestment strategyWhat are the most relevant considerations when introducing new products into China?2025 Survey2024 SurveyAllLarge cosSOE&POEWOFELife ScienceC-suiteRank change:IncreaseDecreaseNo changeKey observationsMarket size is still the paramount consideration,Chinas vast population and medica

83、l demands continue to be the essential factor for businessPricing,and other related government driven initiatives remains top#2 priority for C-suite respondentsMost local players are yet pre-revenue,thus the price adjustment is not yet a priority,but they are looking out for government incentives an

84、d other preferential policiesWith the emphasize of China to Global(C2G),local players are focusing less on domestic competition and more on the oversea expansion,reducing the importance of local rivalry for SOE/POE Impacting factors21China Life Science&Health Care Industry Survey 2025 State of Indus

85、try in China 2025.For information,contact Deloitte China.36%36%46%37%42%44%44%41%AllLarge coSOE&POEWOFENote:Large cos company with 2024 revenue exceed RMB 1 billion;SOE State-owned Enterprise;POE Private-owned Enterprise;WOFE Wolly Foreign-owned EnterprisesChina continues to be a favored investment

86、destination,yet the industrial stakeholders are becoming more selective regarding investment choices New shifts in business investment strategyA number of life sciences companies have engaged in M&A/License deals to enhance their C4C portfolio.Others are using specific investment vehicles to partici

87、pate into the Chinas innovation space.Your organization is56%58%51%65%51%63%31%69%AllLarge coSOE&POEWOFE49%51%49%54%56%63%52%63%AllLarge coSOE&POEWOFEPlanning to increase investment resourcesEnhancing a localized business development function6%5%7%7%9%4%9%9%AllLarge coSOE&POEWOFEIdentifying potentia

88、l M&A/partnering targetsRetracting due to lower-than-expected benefits2025 Survey2024 SurveyKey observationsAlthough the majority of respondents maintain a must-do stance(94%),more than half are becoming more cautious and adopting a reserved attitude towards increasing investmentsThe overall investm

89、ent appetite declined from 42%to 36%,showing a more cautious approachAmbitious in the partnering and M&A are rising(56%),especially among foreign players(65%);however,theres a decline in the in-country BD function and capabilities,from 63%to 54%This indicates a shift towards more centralized investm

90、ent scrutiny and reviewsLocal players are seeking for new assets and partners under the going-out trends and higher commercial pressureStrategic initiatives22China Life Science&Health Care Industry Survey 2025 State of Industry in China 2025.For information,contact Deloitte China.Note:Large cos comp

91、any with 2024 revenue exceed RMB 1 billion;SOE State-owned Enterprise;POE Private-owned Enterprise;WOFE Wolly Foreign-owned EnterprisesThe ROI assessment for investments in China become increasingly crucial for all,ensuring the right R&D investment and import of originally innovative assets are the

92、top priorities New shifts in business investment strategy57%50%44%37%31%26%24%22%46%46%44%35%40%32%25%24%Implement better ROI assessment on the marketengagement investmentReview specifically pipeline and portfolio choicesfor ChinaAccelerate your market access programs in ChinaEnlarge the adoption of

93、 digital or smarttechnology in your business value chainIncrease the R&D investment to supportlocalized product developmentIncrease the compliance investment to meet thefast-changing regulatory landscapeIncreased localization of supply chain andenlarging industrial operations in ChinaReview China ta

94、lent and management structures,increasing larger multi-cultural approachesWhich area that your China business strategy and investment will be adjusted or changed in 2025?2025 Survey2024 SurveyAllLarge cosSOE&POEWOFELife ScienceC-suiteRank change:IncreaseDecreaseNo changeHigh ImportanceKey observatio

95、nsStakeholders are scrutinizing the ROI more closely due to the shortened economic value cycle and increased cost of the market engagementStrategic market and pipeline choices are now standard practice for all players,heavily influenced by government policies that impact market size and pricing dyna

96、micsForeign companies see digital technologies as crucial,with the priority status rising notably among SOE/POEFor local players,R&D investment remains the primary focus,particularly the advancement of original-innovation and topline policies that favoring the innovative assetsStrategic initiatives2

97、3China Life Science&Health Care Industry Survey 2025 State of Industry in China 2025.For information,contact Deloitte China.In conclusion24China Life Science&Health Care Industry Survey 2025 State of Industry in China 2025.For information,contact Deloitte China.Review of our predictions in last year

98、 matching with the key trends happened in 2024Chinas innovation landscape has been more standardized and regulated,which will further eliminate players lack of sufficient capability to keep up with China LSHC market changesStay comprehensiveness,professionalism,and accuracy are the keys to survive u

99、nder the new regulatory and compliance landscape in China LSHC marketThe future investment will be slowed in 2024 with a shifting from fast expansion to secure existing resources instead.The potential to commercialize will become more important2024 predictionsWhat happenedThe landscape for innovatio

100、n in China was significantly influenced by a host of supportive policies released at the national level,raised the bar for original innovation and set the stage for a brighter prospectsThe issuance of DRG/DIP Payment 2.0 in 2024 has marked a pivotal moment for medical payment reform,safeguarding the

101、 tangible returns for the medical innovation In May 2024,new ABAC1 initiatives for the medical sector were announced,emphasizing heightened regulatory and compliance efforts in the LSHC field In 2024,more than 60 local innovative assets were successfully licensed abroad,and four domestic biotech com

102、panies were acquired by global pharma leadersIn 2024,Chinas LSHC industry saw 1,369 fundraising deals,down 5%from 2023,but deal values rose 11.7%,indicating a move towards more selective investmentsLocal pharma firms have significantly increased clinical trials,from 879 in 2019 to 1,636 in 2023,demo

103、nstrating strong R&D in innovative assets25China Life Science&Health Care Industry Survey 2025 State of Industry in China 2025.For information,contact Deloitte China.China LSHC market outlook in 2025Crafting a precise value proposition is now essential,requiring a switch to a more efficient commerci

104、al model that explores additional market segmentsManaging the entire economic value cycle grows in importance,with the need for China-fit solutions increasingly prominentDefining a value proposition is increasingly tough,requiring targeted and updated market access strategies for all competitorsThe

105、regulatory landscape keeps evolving,growing stricter for sustaining business development and new value creationThe enhancement of data privacy and export restrictions is escalating,leading to a greater emphasis on developing C4C solutionsThe surge in smart technologies and business compliance oversi

106、ght is transforming the regulatory environment,potentially leading to higher barriersChina continues to be a significant and appealing market,where the rise of local innovative solutions is becoming more evident and increasingly favoredAccess to local innovation is essential now,prompting global R&D

107、 reviews with China-focused portfolio decisionsChinese GenAI&smart technologies will drive new opportunities&investments across the industrial chainKey impactsExploring new value creation methods and embracing flexible partnership and deal model is key to long-term successImpact 1Reassess market str

108、ategy to develop a China-suited approach for managing the lifecycle of innovative assetsImpact 2Capabilities to fully utilize local smart technologies will become more critical and increasingly essential for market victory Impact 326China Life Science&Health Care Industry Survey 2025 State of Indust

109、ry in China 2025.For information,contact Deloitte China.Deloitte China Life Science&Health Care Team ContactsSurvey&AuthorsAdditional contactsJens EwertIndustry LeaderChina Life Sciences&Health Care Tony LinDeloitte Research Assistant ManagerChina Life Sciences&Health Care Scott SunConsulting Leader

110、China Life Sciences&Health Care James ZhaoTax LeaderChina Life Sciences&Health Care David YuAssurance&Audit Leader China Life Sciences&Health Care Linda PuProgram Senior ManagerChina Life Sciences&Health Care Yvonne WuSector LeaderChina Life Sciences 27China Life Science&Health Care Industry Survey

111、2025 State of Industry in China 2025.For information,contact Deloitte China.Appendix28China Life Science&Health Care Industry Survey 2025 State of Industry in China 2025.For information,contact Deloitte China.Appendix review of our previous predictions20202021202220232024Policy®ulatory frameworkE

112、valuating China strategies in light of the latest government framework is key to success Government involvement will intensify,especially in data security and the Healthy China initiativesThe impact of regulatory initiatives will grow even strongerBusiness compliance activities have been revitalized

113、 and will receive heightened emphasisThe enhanced regulatory initiatives necessitate a greater capability in compliance managementMarket sentimentNew marketing and sales dynamics will arise,transforming the way market engagement is conducted The market will become more centralized with the accelerat

114、ed medical reform progressPriorities for businesses in China have been upgraded to a higher levelLocalization ambitions will bolster business resilience and support market growthThe market engagement model needs to be adjusted,which will affect the allocation of resourcesInnovation&technology invest

115、mentNew technologies will accelerate the move to a healthier ChinaThe surge in strategic partnerships will persist,fueling innovation and digitalizationInnovation will be accelerated through novel partnership models and increased R&D fundingInvestment in technology,particularly across industries,wil

116、l become increasingly crucialThe commercialization potential will play a more significant role in future investment decisionsOperational initiativesEmerging work practices will profoundly affect organizational structures and operationsCross-industry collaborations in diverse forms will emerge and ch

117、ange the operational modelExploring China-specific infrastructure and governance remains a top priorityThe competition for talent will resume and intensify,driven by the demand of innovation and growthLocal digital technology is transforming the market landscape and altering operational models29Chin

118、a Life Science&Health Care Industry Survey 2025 State of Industry in China 2025.For information,contact Deloitte China.AppendixThe weight for each rank is different and is descending from rank 1 to rank 6Rank 1=6 score;rank 2=5 score;rank 3=4 score;rank 4=3 score;rank 5=2 score;rank 6=1 scoreThe ave

119、rage weight score calculation formula:(rank 1#)*6+(rank 2#)*5+(rank 3#)*4+(rank 4#)*3+(rank 5#)*2+(rank 6#)*1)/(total respondent#)For example,the option A was selected for 13 times:rank 1 for three times;rank 2 for four times;rank 3 for twice;rank 4 for twice;rank 5 for once;rank 6 for oncethe avera

120、ge weight score of option A will be:(3*6)+(4*5)+(2*4)+(2*3)+(1*2)+(1*1)/13=4.23The average weight score of option A will be 4.23A higher average weight score represent a higher importance degree of the subject to respondentsChairman/CEO,17%C-suite Level,48%Other Management Level,35%SOE,8%POE,13%JV,7

121、%WOFE,72%Pharma/Biotech,78%Distributor/Retailer,3%Medical Devices/MedTech,16%Healthcare Services,1%Less than 5,000,37%5,000 to 10,000,49%More than 10,000,14%Company TypeFunction TypeIndustry SectorNo.of EmployeesSurvey respondents profiles for large companies 86(from 125)with revenue above RMB 1 bil

122、lion in 2024The average score was calculated based on the weight of its rank in each answer for P.22About DeloitteDeloitte China provides integrated professional services,with our long-term commitment to be a leading contributor to Chinas reform,opening-up and economic development.We are a globally

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