China’s Upcoming Pharma Market Boom: Over 650% Revenue Growth by 2020

Monday 26 August 2013, Amsterdam

Considerable investment in China’s pharmaceutical Research & Development (R&D) sector, along with numerous government-initiated reforms, will spark soaring growth in the country’s pharmaceutical market in the near future, says a new report from research and a consulting firm.

According to the company’s latest report on China’s healthcare industry*, the country’s pharmaceutical market value will climb from an estimated $48 billion in 2012 to a massive $315 billion in 2020, at a Compound Annual Growth Rate (CAGR) of 26.5%.

This increase will see China’s pharmaceutical market become the second largest in the world, with surging revenue propelling industry value significantly closer to that of the US, which GlobalData forecasts to reach $475 billion in 2020.

An expanding and aging population will also play a key role in boosting China’s pharmaceutical market revenue. With the country’s elderly population expected to account for 19% of its total population of 1.41 billion in 2020, we expect to see a rising prevalence of chronic diseases, which will in turn spark an increasing demand for treatment.

This factor will also be a primary driver behind the rising value of China’s medical device market – the second largest in Asia, behind Japan – which GlobalData forecasts will climb from $20 billion in 2012 to $54 billion in 2020.

This report identifies the key trends in China’s healthcare market, providing insights into the demographic, regulatory and reimbursement landscape and the country’s healthcare infrastructure, as well as the trends and segmentation of the Chinese pharmaceutical and medical device markets.

This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts.