Chinese Pharmaceutical Market Set To Grow To $327.5bn By 2022
10 August 2018
Visiongain has launched a new pharma report Chinese Pharmaceutical Market Forecast 2017-2027: Cardiovascular Diseases, Oncology, Respiratory Diseases, Infectious Diseases, Diabetes, CNS, Autoimmune Diseases, Hypertension, Dyslipidaemia, COPD, Asthma, Antidepressants, Small Molecules, Branded Drugs, Traditional Chinese Medicine, Biologics, Vaccines, Biosimilars, Generic Prescription Drugs, Over-the-Counter (OTC) Drugs, Patented Prescription Drugs, Hospitals, Retail Pharmacies, Grassroots Clinics, Domestic Pharmaceutical Companies, Multinational Pharmaceutical Companies
Visiongain estimated the Chinese pharmaceutical market to be worth $145.41bn in 2016. The Chinese pharmaceuticals market is highly fragmented with the top 50 domestic companies accounting for just one-fifth of the market. However, there are still significant opportunities for multi-national companies to expand their reach and presence there.
The lead analyst of the report commented “The Chinese pharmaceutical market is largely driven by sales of generic, domestically produced drugs. It is no surprise that the only two of the top ten pharmaceutical companies by value are multinational firms relying on reduced sales volume on high margin. In total, the top ten companies in the Chinese pharmaceutical market generated 18.0% of the total market revenues. This figure is far below the market share for the top ten firms in the developed US and European markets.
Recent consolidation within the industry has been driven by stricter good manufacturing practice regulations pushing smaller firms out of business. Visiongain anticipates further consolidation within domestic manufacturers over the next ten years, along with a greater prominence for multinational with innovative treatments.”
Leading companies featured in the report include Guangzhou Pharmaceutical Holdings, Shanghai Pharmaceuticals Holding, Yunnan Baiyao, Kangmei Pharmaceutical, Harbin Pharmaceuticals, Xiuzheng Pharmaceutical Group, Sinopharm, Bayer, Pfizer, AstraZeneca, Roche, Sanofi, Novo Nordisk, Merck & Co., Johnson & Johnson, Novartis, GlaxoSmithKline.
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