Comparative Analysis of Pharmaceutical Industry of Russia and China. Prospects for Cooperation

Abstract

The purpose of the study is to determine the prospects for cooperation between Russia and China in the development of the pharmaceutical industry based on a comparative analysis of pharmaceutical markets, healthcare systems, regulations, as well as the specifics of the production of pharmaceuticals. Russia and China have similar pharmaceutical markets characterized by the dominance of local companies, low pricing, and high state intervention. However, China's pharmaceutical market is more developed, larger, and more diversified than Russia's. China has a better-funded healthcare system, more favorable regulations, and higher intellectual property protection. China's research and development capabilities are also more advanced, with a higher number of clinical trials, patents, and scientific publications. Russia and China have similar pharmaceutical markets characterized by dominance by local companies, low prices and high levels of government intervention. The Chinese market is much larger, more developed and diversified than the Russian one. And while it continues to face uncertainty amid drug pricing issues and low levels of intellectual property protection, China continues to be one of the most attractive investment destinations in the Asia-Pacific region. However, Russia has a more stable political environment, a well-developed scientific base and highly qualified personnel. The Russian Federation also has a favorable geographical position for logistics and exports. In recent years, the pharmaceutical industry in Russia and China has undergone significant changes, which has led to an increase in global competitiveness. The article analyzes the current state of the pharmaceutical industry of the two countries, highlights the key trends and prospects for cooperation in the future. While both countries have growth potential, there are notable differences in their strengths and weaknesses that may influence future market strategies. In general, the potential for cooperation between Russia and China is great, especially given the current opportunities for expanding international trade and investment.