As the world’s second-largest healthcare market, China spends about $575 billion a year on the sector, roughly equivalent to Sweden’s GDP. But because of China’s large population, that translates into only $420 in per capita healthcare spending, just 4% of what an average American spends. This healthcare supply shortage is exacerbated by rising demand from wealthier Chinese who seek quality care, better insurance, and diverse services.
On the regulatory side, the Chinese government continues to reform the healthcare sector by allowing doctors to work
outside the public hospital system, encouraging the privatization of hospitals, and expanding public healthcare insurance to cover private hospitals.
The significant mismatch between supply and demand, coupled with policy changes to support the sector, have incentivized private investment to flock into areas ranging from advanced pharmaceuticals and medical devices to primary care clinics, elderly care, and insurance products.
Shandong Sinobioway Biomedicine is a pharmaceutical company. It manufactures biopharmaceuticals and chemical intermediaries. Its flagship product NOBEX is used for treating nerve system syndromes. The company distributes its products both in the China market and globally, including in the United States, Brazil, Canada, India, Japan, and South Korea.
Shandong Sinobioway's parent, Beijing Sinobioway Group, entered into a collaborative venture in 2015 with California-based biotech firm BioAtla to develop and commercialize Conditionally Active Biologic antibody therapeutics. As of today, the parent group has poured more than $100 million into BioAtla, in the form of contract payments and equity investment.