The report also covers information on the competitive landscape in the Chinese pharmaceutical market, identifying market leaders and key trends in investment. It also includes the key drivers and barriers of the pharmaceutical market in more detail. It is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research’s team of industry experts.
China is currently one of the most important markets in the pharmaceutical industry. It is the most populous country in the world, with a recorded population of over 1.34 billion as of 2011. The country has the second-largest economy after the US with a GDP of $7.3 trillion as of 2011, and its economy is one of the fastest growing in the world, with average growth of 10.6% over the last decade (World Bank, 2012). China is the world’s largest exporter and second-largest importer of goods.
In 2011, China overtook Germany to become the third largest pharmaceutical market in the world, and is predicted to overtake Japan by 2015 to become the second largest. In 2011, its estimated value was approximately $64 billion. The size of China’s pharmaceutical market is primarily a result of its large population rather than its maturity, as it is still an emerging market. The Chinese pharmaceutical market has the world’s largest manufacturing capabilities, producing more than 4,500 drugs and exporting various pharmaceutical products such as acetylsalicylic acid and metamizole to the global market. Recent healthcare reforms have been driving the pharmaceutical market by increasing public access to drugs. In addition, recent population changes such as a majority move from rural to urban China, a rapidly aging community and an increasing overweight population are driving the value of the Chinese pharmaceutical market.