Pharma market in China set to hit value of $369 billion in 2020

2 January 2013

China's pharmaceutical market is expected to soar to 2.3 trillion renminbi ($369.2 billion) by 2020, up from 926.1 billion renminbi in 2012, according to a new report.

The report on China's Pharmaceutical Market 2012, published by the Social Sciences Academic Press, noted that the country's aging population will give rise to increased demand for medicine, while a fast-growing economy is expected to boost both the social insurance level and people's consumption capacities.

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