Chinese pharmaceutical market to enjoy 'dramatic' growth

A new report looks at the potential for growth in the Chinese pharmaceutical market.

The Chinese pharmaceutical market is set to grow 'dramatically' over the coming years, according to industry analysts.

The latest report from Research and Markets describes the market as being worth $40 billion in 2011, making it the third largest pharmaceutical market globally after the US and Japan.

It is expected to consolidate its position as a leading player in Asia, growing significantly by 2015.
By 2020, it is likely to have become the main competitor of the US.

However, the report - entitled 'Biopharmaceutical Industry in China - An In Depth Analysis of Multinational and Chinese Biopharma Companies, Industry Trends, Environment, Regulation, Market Drivers, Restraints, Opportunities & Challenges' - also highlights a number of key issues affecting the market.

These include the current lack of regulatory policy and legislation; funding and government sponsorship issues; and international concerns over the safety and efficacy of Chinese medicines.

Other topics covered by the report include how China compares to other emerging markets in the current economic climate and developments relating to forthcoming patent expirations.