Emerging Pharmaceutical Market in China

Sept. 22, 2011 - PRLog -- The US and Europe dominate the contract research organization market and account for the majority of clinical research activities. However, this trend is changing with the emergence of regions such as Central and Eastern Europe, Latin America, India and China as preferred locations for outsourcing. China provides access to a large patient population, good infrastructural facilities and a large pool of healthcare professionals. China is also more cost-effective, with comparable quality standards to developed regions such as the US and Europe. In addition, China has aligned its clinical research regulations with international standards and requirements, which allows it to conduct clinical trials and research on behalf of pharmaceutical companies in developed countries. As a result, pharmaceutical and biotechnology companies will have good reasons to increasingly outsource clinical trials to China in order to benefit from the cost, time and expertise advantages and also to leverage emerging countries’ compliance with international standards such as the Good Laboratory Practices (GLP) and Good Clinical Practices (GCP).

With the new healthcare reform, China will have the fastest growing pharmaceutical market in the world, growing at the rate of 20% per year. By 2013, China’s pharmaceutical industry market size is predicted to grow from the ninth largest in the world to the third largest in terms of value. The market size for Chinese pharmaceuticals in 2009 was $46.2 billion and the industry is expected to grow at a 12.5% compound annual growth rate (CAGR) during the period 2009–2014.

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Foreign companies are strengthening their research and development (R&D) capabilities in China by taking advantage of the healthcare reform and the availability of cheap labor and manufacturing facilities in the country. For example, Novartis is investing close to $1 billion into expanding its Shanghai laboratories. The French drug company Sanofi-aventis and the British drug companies GlaxoSmithKline and AstraZeneca are also planning to invest in the Chinese pharmaceutical sector.

GBI Research’s new report, “Emerging Pharmaceutical Market in China - Forecast to Become The World’s Third-Largest Pharmaceutical Market By 2013”, provides in-depth analysis of trends, issues and challenges in this industry. The report analyzes the effective strategies that shape the industry dynamics. Further, the report provides competitive benchmarking for the leading companies and analyzes the M&A and strategic partnerships that shape the Chinese pharmaceutical market. This report 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.

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.

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