Global Health Progress Fact Sheet Projects China Will Become One of World's Major Biopharmaceutical Players
Released on: October 06, 2010, 4:18 am
Global Health Progress
Data revealed in Global Health Progress’ (GHP) new fact sheet
shows that China is projected to become one of the world’s major
biopharmaceutical players, along with the U.S., Europe, and Japan, in
the next fifteen years. This projection is based on China’s commitment
to improving access to healthcare by expanding its biotechnology
sector, increasing its exportation of biopharmaceuticals and investing
in pharmaceutical research and development (R&D).
China has one of the fastest growing economies in the world with a gross domestic
product of more than $8 trillion. Its biotechnology sector has become a bright spot
in the Asia Pacific region and the world markets, with an impressive average annual
growth rate of 19.4% between 2000 and 2005, and is anticipated to become the world’s
third-largest pharmaceutical market in 2011, a major increase over its #8 rank in
Part of China’s successful growth is due to its decision to improve access to
healthcare by increasing exports of biopharmaceuticals. For example, in 2006 China
exported a total of US $890 million in biopharmaceuticals - a 30.61% increase
compared with the previous year. China has also become the largest vaccine
manufacturing country in the world, capable of producing 41 vaccines to prevent 26
viral diseases, and has become the third country to succeed in large-scale
production of genetically engineered insulin.
Additionally, China’s pharmaceutical R&D expenditures are expected to reach US $10
billion or 2% of global spending by the end of 2010. The country is expected to
contribute an additional $40+ billion in annual sales by 2013, comparable to the
level of increased sales forecast for the US market in the same period.
China’s investment in the biotechnology sector has translated into improvements
regarding access to healthcare and the country’s economic growth through creating
high-quality, highly skilled jobs. Currently, there are more than 500 biotechnology
companies in China with the biopharmaceutical sector employing approximately 50,000
people. Additionally, pharmaceutical R&D is taking the form of multinational
biopharmaceutical companies setting up research facilities in biotechnology parks in
China, which can drive highly-skilled, high wage job growth and encourage better
access to healthcare.
Please view full PDF for additional information and list of sources.
About Global Health Progress:
Global Health Progress also supports efforts to raise awareness and mobilize
resources to address health challenges in the developing world by bringing local
leaders together with international health experts, policymakers, donor governments,
and the private sector.
To stay informed on the latest news and updates from the biotechnology sector,
investment in pharmaceutical R&D and improving access to healthcare, sign up to
receive special alerts and newsletters. You can also spread the word about the
efforts of the Global Health Progress initiative and keep others informed about how
we're affecting change around the world or share your story about how you or
someone you know is working to promote global health.
Contact Details: Mark Grayson
Back to previous page
Submit your press release