China’s is one of the major pharmaceutical markets, expected to rank 3rd in the world by 2013. The rising domestic pharmaceutical demand with the international trading taking place at the same time is developing rapidly in the country. Moreover, the country is increasing its investments in pharmaceuticals. Production processes are presenting itself as the cheap pharmaceutical location in order to attract international companies.
According to a latest research report by RNCOS, “Asia Pacific Pharma Sector Analysis”
, the growth of China pharmaceutical market has been driven by numerous factors including rising prosperity of the Chinese population, increasing life expectancy, and increasing healthcare spending. Moreover, in 2011, the country’s pharmaceutical market registered a year-on-year growth of 17.3% over 2010. Taking into consideration, all these factors, summed up with higher efficiency as well as improved quality and level of service, is indicative to boost the pharmaceutical industry, which is anticipated to grow at a CAGR of around 20% during 2012-2015.
Furthermore, we also found out why the Asia-Pacific region is emerging as a new destination for the generic drugs industry. As per our findings, the western countries are facing the issue of poorly defined regulatory pathways, and a few Asian countries are well positioned to benefit from these changes, attracting huge investments by generic companies. The OTC sector in the region has also been expanding rapidly.
The study of other emerging trends revealed that the growing market for vaccines and medical tourism is giving new dimension to the region’s pharmaceutical industry. Though Asia-Pacific is emerging as a right destination for drug-related research, the region lacks IPR regime. The report provides in-depth information about regulatory environment and key market players in each country. This way, our research aims at presenting a fair picture of the industry to clients.
For the purpose of the report we have considered following countries in the Asia-Pacific region: Japan, China, India, South Korea, Malaysia, Thailand, Indonesia, Vietnam, Philippines, Australia, and New Zealand.
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