Tuesday, May 23, 2017 10:04:37 AM
For China the number of sufferers I would gather would be about the 9 million mark, however we still need to factor in affordability.
China doesn't have quite as good a healthcare system to make this available to everyone who needs it.
Payment for Drugs in China fall under one of 3 categories:
- EDL : Essential Drugs List. 100% paid for by the state but which cover basic ailments (fever, diarrhea, and certain 1st generation and generic cancer drugs)
- RDL : Reimbursement Drug List. Usually 70% paid for by the state and 30% out of pocket for the patient. This is the list all MNC drug companies try to get listed on.
- Self-Paid List : 0% paid by the state, 100% out of pocket for the patient. Being on this list severely hinders your addressable market.
Given your quoted cost of 20,000 USD for treatment, this product would never get on the EDL. So we would either the RDL (not likely) or Self-Paid.
If RDL I'd say we could hit 50% of the total population, and Self-paid maybe 20%. We have to remember China is by and large a developing country. Realistically speaking I think we'd be on the Self-Paid list, as the Chinese government is already finding it hard to cover the EDL and RDL costs.
Also something good for us but bad for the patient, is that, for China, drug companies mark their high-end drug prices not on individual income but on HHI (Household Income). This is because it is common in China for the whole family to put forward needed money to pay for the treatment of another family member.
But 20% of your 180 billion, e.g. 36 billion addressable market just in China, is still very very good wouldn't you say?
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