China now world's largest vaccine producer

In the past decade, the Chinese vaccine market tripled in scale. China has already become the world's largest vaccine producer and now has 28 vaccine companies, ranking number.1 around the globe, according to a new report added to the offerings of Reportlinker.

The country can now produce one billion person-portions annually, besides, varieties and quantity also ranks the top in the world. Output of common vaccines, such as HBV vaccine, measles vaccine, etc, has reached 500 million person-portions, and fully-planned immunization has been realized, the report notes.

Compared to developed countries, China's expenditures on vaccine and diseases treatment are relatively low; therefore, China will attach great importance to vaccine industry development and take it as the key of health care and biotechnology industry. The Development Strategy of China Biotechnology Industry has rendered the development of secure new types of vaccines as priority.

In the meantime, the Chinese government has employed preferential taxation policy to this industry. In consequence, the vaccine industry will become a high-tech sector with great potential in China biotechnology field. It is forecast that China's vaccine market scale will approximate 8 billion renminbi ($1.78 billion) in 2020, with an annual growth rate of 15%, far above world's level 10%.the report notes.