Government health care reforms foster development China's Pharma market, says F&S
Rising incomes, improving health care infrastructure and enhanced insurance systems have propelled the Chinese pharmaceutical market to become the third-largest in the world. The entry of multinational companies has granted local manufacturers access to advanced technologies and further aided market development in the country.
A new analysis from Frost & Sullivan, titled Chinese Pharmaceutical Market, finds that the market earned revenues of $131.63 billion in 2012 and estimates this to more than double to $280.30 billion in 2016.
"Apart from the opportunities created by government health care reforms for essential drug systems as well as medical insurance and primary health care solutions, the impending expiry of several drug patents boosts the prospects of local pharmaceutical manufacturers in China," said Frost & Sullivan health care research analyst Kai Lu.
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