Pharmaceutical manufacturing in China worth $78.8 billion in 2012, says IBISWorld

Revenue for the pharmaceutical manufacturing industry in China is expected to increase at an annualized rate of 22.1% in the five years to 2012 to reach $78.8 billion, says IBISWorld. Growth has been largely driven by rising market demand and the rising income levels of consumers.

In addition, over the past five years the government amended the rebate practices of hospitals for pharmaceutical and medicine products to limit overcharging and price gouging of consumers. In the past, many consumers could not afford to purchase medicine or see a doctor.

Top four players account for 15% of industry revenue