Zhang Boli, President of Tianjin University of TCM pointed that, “Chinese medicine (referred to scale) will surpass or reach the U.S. level by 2020,” at the 26th Chinese Medical Economic Information Meeting.
The overall share of the emerging market has risen to 20% from 14% of 2006, and is estimated to reach 30% in 2016. Developed countries play an important part in scale and volume, however, the growth speed of the emerging market is obviously accelerated.
The overall medical volume and scale of China take on a state of growing year by year, and it has surpassed Japan in 2011 and became the second largest country in pharmaceutical industry. “We can reach (the U.S. level), judging from the present development level.”
As introduced by Zhang Boli, currently there is the special project for major new drugs creation in China. There has been certain progress in new drug R&D since the initiation. There are 155 new drugs in the new drug R&D in ten treatment fields, including those now under clinical phase III. The R&D of pharmaceutical product varieties has made positive progress: 74 new drug certificates were obtained for total 52 varieties by September 2013.
As shown by the data offered by Lin Jianning, the head of CFDA South Medicine Economic Research Institute, it is estimated that the growth of Chinese pharmaceutical industry output in 2015 will be 15%, sales growth in pharmaceutical industry will be 13%, and profit growth in pharmaceutical industry will be 11%. Terminal market size of Chinese pharmaceutical products is estimated to be RMB 1.25 trillion in 2014 and RMB 1.41 trillion in 2015.
