Correspondence: Wang Yitao, ICMS, University of Macau, Av. Padre Tom á s Pereira S.J., Taipa, Macao, China. Tel: + 853 3974691; Fax: + 853 28841358; e-mail: ya47404@umac.mo

¹is a PhD student and graduate assistant at the Institute of Chinese Medical Sciences, University of Macau and graduated from China Pharmaceutical University in 2001. He has participated in one research project at the Ministry of Science & Technology of China and published over ten academic papers.

²is a graduate student of the Institute of Chinese Medical Sciences, University of Macau and graduated from Macau Polytechnic Institute in 2006.

³is Assistant Professor at the Institute of Chinese Medical Sciences, University of Macau and graduated from Shandong University in 1993. He has completed 20 research projects for the national ministry or bureau, the World Health Organization and World Bank, and published over 60 papers in Chinese and international academic journals.

⁴is the Director of the Institute of Chinese Medical Sciences, University of Macau and graduated from Chengdu University of Traditional Chinese Medicine in 1982. He is also Director of International Research Center of Medicinal Administration, Peking University, and the chief researcher and PhD supervisor of the China Academy of Traditional Chinese Medicine. He has completed ten research projects for the national ministry or bureau and published over 50 academic papers and three books.

Received 14 May 2007; Revised 14 May 2007.

Abstract

This paper aims to outline China's pharmaceutical market with a focus on the changing health consumer. Currently, the Chinese population numbers 1.3 billion and estimates suggest 25 per cent of the population will be aged over 60 by 2050. Moreover, trends toward higher living standards and urbanisation are increasing and there is a growing movement toward lifestyle medication, self-medication, buying drugs online and 'modern' medicine — the use of traditional Chinese medicine is decreasing gradually. Keeping close track of these trends will provide the best opportunity of investing effectively in China.