Hainan: Increase support for the research and innovation of traditional Chinese medicine, and encourage the secondary development of traditional Chinese medicine preparations in hospitals. [Analysis of the Development Trend of the traditional Chinese medicine Industry Attached]

(Image source: Shutterstock

    Recently, the General Office of the People's Government of Hainan Province issued the "Implementation Plan for Comprehensively Deepening the Regulatory Reform of Drugs, Medical Devices and Cosmetics in Hainan Province to Promote the High-Quality Development of the Pharmaceutical Industry". It is proposed to increase support for the research and development and innovation of traditional Chinese medicine. The first is to encourage the secondary development of traditional Chinese medicine preparations within the hospital. Support the exploration and transformation of proven prescriptions by renowned doctors of Southern and Li medicines. Convert the already filed decoctions into granules and powders into pills, simplify the filing process and streamline the filing materials. The second is to support the application and promotion of key traditional Chinese medicine preparations. Explore and promote the reduction of the prescription validity period for experience prescriptions of national master doctors and nationally renowned traditional Chinese medicine practitioners, which do not require the submission of certain filing materials, from five years to three years. Support the transfer of in-hospital preparations that meet the regulations to medical alliances within the province for use. In addition, the plan also strongly encourages medical institutions to carry out formulation research and development. By providing certain financial support, it stimulates the enthusiasm and creativity of medical institutions in the field of traditional Chinese medicine research and development. The goal of promoting the registration or filing of more than 15 in-house preparations by the end of 2027 has clarified the direction and injected strong impetus into the research and innovation of traditional Chinese medicine in Hainan.

The traditional Chinese medicine industry, as an important part of traditional Chinese medicine, has a history of several thousand years and profound cultural heritage. In recent years, with the continuous increase in people's attention to health preservation and the growing preference for natural medicines, the traditional Chinese medicine industry has ushered in new development opportunities.

On the one hand, traditional Chinese medicine has demonstrated unique advantages in chronic disease management, immunity enhancement, and disease recovery. Its market demand has been continuously increasing, especially among the elderly and sub-healthy groups, where it has gained wide popularity. On the other hand, the development of modern technology has also injected new vitality into the traditional Chinese medicine industry. From planting, processing to quality control, the production process of traditional Chinese medicine is becoming increasingly standardized and modernized, enhancing the safety and effectiveness of the products. Meanwhile, the support of national policies for traditional Chinese medicine has been continuously strengthened, promoting the large-scale and international development of the traditional Chinese medicine industry.

According to statistics from the China Association of Chinese Medicine, from 2018 to 2023, the overall scale of China's traditional Chinese medicine industry has shown a fluctuating growth trend. In 2023, the market size approached 800 billion yuan, with a growth rate far exceeding that of the entire pharmaceutical industry.

The Qianzhan Industry Research Institute believes that the future development potential of China's traditional Chinese medicine industry is considerable. It is estimated that from 2025 to 2029, China's traditional Chinese medicine industry will grow at a compound annual growth rate of 14%, and the scale of China's traditional Chinese medicine industry is expected to reach nearly 2 trillion yuan by 2029.

   Academician Chen Kaixian of the Chinese Academy of Sciences said that traditional research methods targeting a single target are often difficult to be applied to the research of related therapeutic drugs. The overall, multi-target and multi-level functions and regulations of traditional Chinese medicine have shown significant value and significance for complex chronic diseases. Innovation in traditional Chinese medicine must be guided by clinical value. We should promote the development of compound preparations of traditional Chinese medicine based on ancient classic prescriptions, pay attention to the "new use of old drugs", strengthen the research on the combination of diseases and syndrome in traditional Chinese medicine, conduct in-depth research on the efficacy evaluation of traditional Chinese medicine, and explore new models for the research and development of new traditional Chinese medicine drugs.

The Information Group of the Qianzhan Economist APP

For more research and analysis on this industry, please refer to the "China Traditional Chinese Medicine Preparation Industry Market Forecast and Investment Strategy Planning Analysis Report" by Qianzhan Industry Research Institute.

Meanwhile, the Qianzhan Industry Research Institute also offers solutions such as research on new industrial tracks, investment feasibility studies, industrial planning, park planning, industrial investment promotion, industrial maps, industrial big data, smart investment promotion systems, industry status certificates, IPO consultation/fundraising feasibility studies, application for specialized, refined, distinctive and innovative small and medium-sized enterprises, and the 15th Five-Year Plan. If you need to reprint or quote the content of this article, please indicate the source (Qianzhan Industry Research Institute).