China's pharma market boom: over 650% revenue growth by 2020
Considerable investment in China’s pharmaceutical 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 consulting firm GlobalData.
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, growing at a compound annual growth rate (CAGR) of 26.5%.
Will become second largest pharma market
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