{"id":47250,"date":"2023-11-21T11:55:39","date_gmt":"2023-11-21T03:55:39","guid":{"rendered":"https:\/\/daxueconsulting.com\/?p=47250"},"modified":"2023-11-23T11:55:47","modified_gmt":"2023-11-23T03:55:47","slug":"pharmaceutical-industry-china","status":"publish","type":"post","link":"https:\/\/daxueconsulting.com\/pharmaceutical-industry-china\/","title":{"rendered":"China&#8217;s pharmaceutical industry: from manufacturing hub to key R&amp;D player"},"content":{"rendered":"\n<p>Since joining the <a href=\"https:\/\/www.wto.org\/\">World Trade Organization<\/a> in 2001, China&#8217;s pharmaceutical industry has experienced remarkable growth. In 2021, it accounted for <a href=\"https:\/\/www.statista.com\/statistics\/1246593\/value-share-of-pharmaceutical-companies-worldwide-by-country\/\">12%<\/a> of the global pharmaceutical market, second only to the United States, which accounted for a substantial 40% of the world&#8217;s total revenue. By 2022, despite challenges from the COVID-19 pandemic, the industry demonstrated resilience, reaching approximately <a href=\"https:\/\/www.163.com\/dy\/article\/I3AS7040051481OF.html#:~:text=%E5%9C%A8%E6%8A%80%E6%9C%AF%E8%BF%9B%E6%AD%A5%E3%80%81%E4%BA%A7%E4%B8%9A%E7%BB%93%E6%9E%84%E8%B0%83%E6%95%B4%E5%92%8C%E6%B6%88%E8%B4%B9%E6%94%AF%E4%BB%98%E8%83%BD%E5%8A%9B%E5%A2%9E%E5%8A%A0%E7%9A%84%E9%A9%B1%E5%8A%A8%E4%B8%8B%EF%BC%8C%E4%B8%AD%E5%9B%BD%E7%94%9F%E7%89%A9%E5%8C%BB%E8%8D%AF%E5%B8%82%E5%9C%BA%E8%A7%84%E6%A8%A1%E4%B9%9F%E5%91%88%E7%A8%B3%E5%AE%9A%E4%B8%8A%E5%8D%87%E6%80%81%E5%8A%BF%E3%80%82,%E6%94%BF%E5%BA%9C%E9%BC%93%E5%8A%B1%E5%B0%86%E5%8C%BB%E8%8D%AF%E4%BC%81%E4%B8%9A%E7%9A%84%E7%A0%94%E5%8F%91%E3%80%81%E7%94%9F%E4%BA%A7%E3%80%81%E9%94%80%E5%94%AE%E4%B8%8E%E4%BA%92%E8%81%94%E7%BD%91%E5%A4%A7%E6%95%B0%E6%8D%AE%E3%80%81%E4%BA%91%E8%AE%A1%E7%AE%97%E7%AD%89%E6%96%B0%E5%85%B4%E4%BF%A1%E6%81%AF%E6%8A%80%E6%9C%AF%E8%9E%8D%E5%90%88%E5%8F%91%E5%B1%95%EF%BC%8C%E4%B8%BA%E5%8C%BB%E8%8D%AF%E8%A1%8C%E4%B8%9A%E5%8F%91%E5%B1%95%E6%B3%A8%E5%85%A5%E6%96%B0%E5%8A%A8%E8%83%BD%EF%BC%8C%E4%BF%83%E8%BF%9B%E8%A1%8C%E4%B8%9A%E7%9A%84%E8%B7%A8%E8%B6%8A%E5%BC%8F%E5%8F%91%E5%B1%95%E3%80%82%202022%E5%B9%B4%E4%B8%AD%E5%9B%BD%E5%8C%BB%E8%8D%AF%E5%B8%82%E5%9C%BA%E8%A7%84%E6%A8%A1%E8%BE%BE%E5%88%B0%E7%BA%A616586%E4%BA%BF%E5%85%83%EF%BC%8C%E9%A2%84%E8%AE%A12023%E5%B9%B4%E4%B8%AD%E5%9B%BD%E5%8C%BB%E8%8D%AF%E5%B8%82%E5%9C%BA%E8%A7%84%E6%A8%A1%E5%B0%86%E8%BE%BE%E5%88%B017977%E4%BA%BF%E5%85%83%E3%80%82\">RMB 1.7 trillion<\/a>, and is projected to achieve RMB 1.8 trillion in 2023.<\/p>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Download our report on the she economy in China<\/h3>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"446\" src=\"https:\/\/daxueconsulting.com\/wp-content\/uploads\/2023\/08\/daxueconsulting-she-economy-report-800x446.png\" alt=\"she economy in china\" class=\"wp-image-58945\" srcset=\"https:\/\/daxueconsulting.com\/wp-content\/uploads\/2023\/08\/daxueconsulting-she-economy-report-800x446.png 800w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2023\/08\/daxueconsulting-she-economy-report-300x167.png 300w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2023\/08\/daxueconsulting-she-economy-report-768x428.png 768w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2023\/08\/daxueconsulting-she-economy-report-1536x856.png 1536w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2023\/08\/daxueconsulting-she-economy-report.png 1907w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<script charset=\"utf-8\" type=\"text\/javascript\" src=\"\/\/js.hsforms.net\/forms\/embed\/v2.js\"><\/script>\n<script>\n  hbspt.forms.create({\n    region: \"na1\",\n    portalId: \"21091266\",\n    formId: \"aa6b36e1-a10d-4825-b133-d31b45e16f9f\"\n  });\n<\/script>\n<\/div>\n<\/div>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Over the past decade, <a href=\"https:\/\/daxueconsulting.com\/industries\/china-healthcare-industry\/\">China&#8217;s healthcare industry<\/a> has evolved into a strategic R&amp;D hub, transitioning from a manufacturing base, and government incentives continue to drive the integration of research, production, and sales with emerging technologies, positioning the country as a major player in the global pharmaceutical market.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><img decoding=\"async\" width=\"1354\" height=\"1005\" data-src=\"https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/07\/daxue-consulting-china-pharmaceutical-market-size-China-pharmaceutical-industry.png\" alt=\"market size China's pharmaceutical industry.\" class=\"wp-image-60077 lazyload\" style=\"--smush-placeholder-width: 1354px; --smush-placeholder-aspect-ratio: 1354\/1005;width:670px;height:auto\" data-srcset=\"https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/07\/daxue-consulting-china-pharmaceutical-market-size-China-pharmaceutical-industry.png 1354w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/07\/daxue-consulting-china-pharmaceutical-market-size-China-pharmaceutical-industry-300x223.png 300w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/07\/daxue-consulting-china-pharmaceutical-market-size-China-pharmaceutical-industry-800x594.png 800w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/07\/daxue-consulting-china-pharmaceutical-market-size-China-pharmaceutical-industry-768x570.png 768w\" data-sizes=\"(max-width: 1354px) 100vw, 1354px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" \/><figcaption class=\"wp-element-caption\"><em><em>Data source: AskCI, designed by Daxue Consulting, the market size of China\u2019s pharmaceutical industry from 2019 to 2023E<\/em><\/em><\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Generic medicine dominates China\u2019s pharmaceutical market<\/h2>\n\n\n\n<p>The Chinese pharmaceutical market is divided into three <a href=\"https:\/\/www.trade.gov\/healthcare-resource-guide-china\">segments<\/a>: generics, patented pharmaceuticals, and over-the-counter (OTC) medications. Due to the low purchasing power and a robust local&nbsp;<a href=\"https:\/\/daxueconsulting.com\/market-entry-china-manufacturing-industry\/\">manufacturing sector<\/a>, generic medicine accounts for 54% of China&#8217;s pharmaceutical market, with a market size of around <a href=\"http:\/\/www.21jingji.com\/article\/20220322\/herald\/fc19984ad9bf5d23cbfbe9b0f1c3a8df.html\">USD 107.7 billion in 2020<\/a> (RMB 786.6 billion).<\/p>\n\n\n\n<p>According to <a href=\"https:\/\/xueqiu.com\/1973934190\/248893620\">Huaon Research<\/a>, in 2021, the size of China&#8217;s generic drug market was USD 134.4 billion <a>(RMB 982.2 billion)<\/a>, with a compound growth rate of 0.45% from 2017 to 2021. However, the generic medicine market in China is currently undergoing a gradual reform, leading to the elimination of a significant number of substandard generic drugs. As a result of these changes, it is anticipated that the growth of the generic drug market will slow down in the future.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">China&#8217;s patented medicine market is on the rise<\/h3>\n\n\n\n<p>In recent years, China&#8217;s patented medicine market has experienced significant growth, <a href=\"https:\/\/www.askci.com\/news\/chanye\/20220819\/1758171961933.shtml\">outpacing<\/a> the global market for patented drugs, boasting a compound annual growth rate of 5.5% between 2017 and 2021.<\/p>\n\n\n\n<p>Several factors contributed to the expansion of China&#8217;s market for patented medicines. First, the Chinese government has implemented policies designed to promote innovation and safeguard intellectual property rights. This has created a favorable environment for pharmaceutical companies, both domestic and international, to invest in research and development in China&#8217;s patented medicine market. In addition, as the middle class in China continues to expand and <a href=\"https:\/\/daxueconsulting.com\/industries\/china-healthcare-industry\/\">healthcare<\/a> needs increase, there is a growing demand for patented pharmaceuticals of superior quality.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">China is one of the world&#8217;s most promising markets for over-the-counter medications.<\/h3>\n\n\n\n<p>Driven by an increasing health-conscious population and the growing prevalence of self-medication, China\u2019s OTC medicine market has witnessed a robust <a href=\"https:\/\/daxueconsulting.com\/the-otc-healthcare-market-in-china\/\">development rate<\/a>, with its market reaching <a href=\"https:\/\/xueqiu.com\/8666823409\/262578669\">RMB 359.6 billion in 2022.<\/a> From the perspective of product types, the OTC drug market is diversifying, and a wide range of products such as health supplements, and sleep aids have attracted the attention of Chinese consumers.<\/p>\n\n\n\n<p>The COVID-19 pandemic has significantly influenced Chinese consumers, fostering a comprehensive understanding and heightened awareness of immunity enhancement. This shift in health perspectives is reshaping the pharmaceutical industry&#8217;s future, with a transition from disease treatment to prevention and control.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What are the major sales channels for pharmaceuticals in China?<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">1. Urban and rural hospitals<\/h3>\n\n\n\n<p>Hospitals and clinics are the primary sales channels for pharmaceutical products in China. These institutions purchase medicines directly from pharmaceutical manufacturers or wholesalers to meet the demands of their patients. In 2021,&nbsp;<a href=\"https:\/\/www.menet.com.cn\/info\/202204\/20220429092100210_143617.shtml\">63.5%<\/a> of all pharmaceuticals sold domestically were sold through public hospitals. An additional 9.6% were sold through private hospitals, private clinics, and rural clinics.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2. Retail pharmacies<\/h3>\n\n\n\n<p>Retail pharmacies play a significant role in distributing pharmaceutical products in China. They are accessible to the general public and provide over-the-counter medications as well as prescription drugs. Through expansion and increased coverage, it has become the second-largest sales channel for pharmaceuticals in China, accounting for\u00a026.9%\u00a0of\u00a0drug\u00a0sales\u00a0<a href=\"https:\/\/www.cn-healthcare.com\/articlewm\/20220428\/content-1346325.html#:~:text=%E7%B2%BE%E5%BD%A9%E5%86%85%E5%AE%B9%202021%E5%B9%B4%E6%88%91%E5%9B%BD%E4%B8%89%E5%A4%A7%E7%BB%88%E7%AB%AF%E5%85%AD%E5%A4%A7%E5%B8%82%E5%9C%BA%EF%BC%88%E5%AE%9A%E4%B9%89%E8%8C%83%E5%9B%B4%E8%AF%A6%E8%A7%81%E6%96%87%E6%9C%AB%E2%80%9C%E6%95%B0%E6%8D%AE%E8%AF%B4%E6%98%8E%E2%80%9D%EF%BC%89%E8%8D%AF%E5%93%81%E9%94%80%E5%94%AE%E9%A2%9D%E8%BE%BE17747%E4%BA%BF%E5%85%83%EF%BC%8C%E5%90%8C%E6%AF%94%E5%A2%9E%E9%95%BF8.0%25%E3%80%82,%E4%BB%8E%E5%AE%9E%E7%8E%B0%E8%8D%AF%E5%93%81%E9%94%80%E5%94%AE%E7%9A%84%E4%B8%89%E5%A4%A7%E7%BB%88%E7%AB%AF%E7%9A%84%E9%94%80%E5%94%AE%E9%A2%9D%E5%88%86%E5%B8%83%E6%9D%A5%E7%9C%8B%EF%BC%8C%20%E5%85%AC%E7%AB%8B%E5%8C%BB%E9%99%A2%20%E7%BB%88%E7%AB%AF%E5%B8%82%E5%9C%BA%E4%BB%BD%E9%A2%9D%E6%9C%80%E5%A4%A7%EF%BC%8C2021%E5%B9%B4%E5%8D%A0%E6%AF%94%E4%B8%BA63.5%25%EF%BC%9B%E9%9B%B6%E5%94%AE%E8%8D%AF%E5%BA%97%E7%BB%88%E7%AB%AF%E5%B8%82%E5%9C%BA%E4%BB%BD%E9%A2%9D2021%E5%B9%B4%E4%B8%BA26.9%25%EF%BC%9B%E5%85%AC%E7%AB%8B%E5%9F%BA%E5%B1%82%E5%8C%BB%E7%96%97%E7%BB%88%E7%AB%AF%E5%B8%82%E5%9C%BA%E4%BB%BD%E9%A2%9D2021%E5%B9%B4%E4%B8%BA9.6%25%E3%80%82\">in 2021<\/a>. Retail pharmacy chains, such as Nepstar, have a widespread presence across the country. These chains have over <a href=\"http:\/\/www.nepstar.cn\/portal\/\">4,000 stores<\/a> in China by the end of 2021.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3. Online sales<\/h3>\n\n\n\n<p>In line with the quickly rising popularity of online shopping, the Chinese pharmaceutical e-commerce market also started to grow before the COVID-19 pandemic. Jianke, a Guangzhou-based company with 100 million customers and over\u00a0<a href=\"https:\/\/www.prnewswire.com\/news-releases\/chinas-leading-online-b2c-pharmacy-and-healthcare-services-platform-jianke-raises-usd130-million-in-series-b-financing-300706101.html\">680,000 SKUs in 2018<\/a>\u00a0was the leading pharmaceuticals e-commerce platform before the COVID-19 pandemic. However, since the outbreak of COVID-19, many Chinese customers have started purchasing medicine through <a href=\"https:\/\/daxueconsulting.com\/o2o-food-delivery-market-in-china\/\">food delivery platforms<\/a> like Meituan and Ele.me. This has significantly impacted Jianke&#8217;s market share because Ele.me and Meituan can deliver medicine within thirty minutes, compared to the one to two days it took to Jianke.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" width=\"800\" height=\"643\" data-src=\"https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/07\/daxue-consulting-china-pharmaceutical-order-medicine-food-delivery-platforms.png\" alt=\"medicine food delivery platforms in China's pharmaceutical industry\" class=\"wp-image-60078 lazyload\" data-srcset=\"https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/07\/daxue-consulting-china-pharmaceutical-order-medicine-food-delivery-platforms.png 800w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/07\/daxue-consulting-china-pharmaceutical-order-medicine-food-delivery-platforms-300x241.png 300w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/07\/daxue-consulting-china-pharmaceutical-order-medicine-food-delivery-platforms-768x617.png 768w\" data-sizes=\"(max-width: 800px) 100vw, 800px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 800px; --smush-placeholder-aspect-ratio: 800\/643;\" \/><figcaption class=\"wp-element-caption\"><em>Source: Daxue Consulting, How to order medicine in China through food delivery platforms<\/em><\/figcaption><\/figure>\n\n\n\n<p>China&#8217;s pharmaceutical e-commerce market has experienced significant growth due to the implementation of various policies. For instance, the gradual liberalization of online prescription drugs has untapped immense opportunities. <a href=\"https:\/\/www.iimedia.cn\/c400\/96151.html\">In 2022<\/a>, the market reached RMB 248.60 billion, recording a 10% increase. It is projected to further rise to RMB 341.02 billion <a href=\"https:\/\/www.iimedia.cn\/c400\/96151.html\">by 2026<\/a>.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><img decoding=\"async\" width=\"539\" height=\"1019\" data-src=\"https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/07\/daxue-consulting-china-pharmaceutical-reimbursement-through-Alipay.jpg\" alt=\"reimbursement through Alipay\" class=\"wp-image-60079 lazyload\" style=\"--smush-placeholder-width: 539px; --smush-placeholder-aspect-ratio: 539\/1019;width:401px;height:auto\" data-srcset=\"https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/07\/daxue-consulting-china-pharmaceutical-reimbursement-through-Alipay.jpg 539w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/07\/daxue-consulting-china-pharmaceutical-reimbursement-through-Alipay-159x300.jpg 159w\" data-sizes=\"(max-width: 539px) 100vw, 539px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" \/><figcaption class=\"wp-element-caption\"><em>Image source: Xiaohongshu, Policy preference: 80% reimbursement for medical care through Alipay<\/em><\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Unveiling China&#8217;s pharmaceutical giant: Sinopharm Group<\/h2>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><img decoding=\"async\" width=\"1430\" height=\"1080\" data-src=\"https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/07\/daxue-consulting-china-pharmaceutical-Largest-Chinese-pharmaceutical-companies.png\" alt=\"Largest Chinese pharmaceutical companies in China's pharmaceutical industry\" class=\"wp-image-60076 lazyload\" style=\"--smush-placeholder-width: 1430px; --smush-placeholder-aspect-ratio: 1430\/1080;width:763px;height:auto\" data-srcset=\"https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/07\/daxue-consulting-china-pharmaceutical-Largest-Chinese-pharmaceutical-companies.png 1430w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/07\/daxue-consulting-china-pharmaceutical-Largest-Chinese-pharmaceutical-companies-300x227.png 300w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/07\/daxue-consulting-china-pharmaceutical-Largest-Chinese-pharmaceutical-companies-800x604.png 800w, https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/07\/daxue-consulting-china-pharmaceutical-Largest-Chinese-pharmaceutical-companies-768x580.png 768w\" data-sizes=\"(max-width: 1430px) 100vw, 1430px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" \/><figcaption class=\"wp-element-caption\"><em>Data source: Forbes Global, designed by Daxue Consulting, the Largest Chinese pharmaceutical company by sales value as of June 2023<\/em><\/figcaption><\/figure>\n\n\n\n<p>In 2023, China&#8217;s pharmaceutical industry is dominated by 4 key players: <a>Sinopharm Group<\/a> (\u56fd\u836f\u63a7\u80a1\u80a1\u4efd\u6709\u9650\u516c\u53f8), Shanghai Pharmaceutical (\u4e0a\u6d77\u533b\u836f), Jointown Pharmaceutical Group (\u4e5d\u5dde\u901a\u533b\u836f\u96c6\u56e2), and Guangzhou Baiyunshan Pharmaceutical (\u5e7f\u5dde\u767d\u4e91\u5c71\u533b\u836f).<\/p>\n\n\n\n<p>Sinopharm Group stands as the largest enterprise in the country, with a comprehensive national presence. Its core business focuses on pharmaceutical and medical device distribution, achieving an operational revenue exceeding <a href=\"https:\/\/finance.sina.com.cn\/stock\/med\/gsxw\/2022-09-01\/doc-imizmscv8656432.shtml\">RMB 500 billion<\/a> in 2021.<\/p>\n\n\n\n<p>All four major pharmaceutical companies in China place significant emphasis on traditional Chinese medicine (TCM). Among them, Sinopharm Group is a notable leader, committed to the global modernization of TCM and housing the world&#8217;s largest modern Chinese medicine industry cluster. This includes a diverse array of Chinese medicine varieties, extensive industrial parks, cultural heritage preservation, and exclusive pharmaceutical products.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What you should know about China\u2019s pharmaceutical industry?<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Since joining the World Trade Organization in 2001, China\u2019s pharmaceutical industry has made significant progress. It has evolved significantly, evolving from a manufacturing base to a strategic R&amp;D hub.<\/li>\n\n\n\n<li>The pharmaceutical market in China includes generics, patented medicines, and over-the-counter (OTC) medications. Nowadays, generics dominate the market, but patented drugs are growing faster.<\/li>\n\n\n\n<li>Major sales channels include urban and rural hospitals, retail pharmacies, and a growing online sector, responding to the rise in online pharmaceutical purchases.<\/li>\n\n\n\n<li>Dominated by major players like Sinopharm Group, Shanghai Pharmaceutical, Jointown Pharmaceutical Group, and Guangzhou Baiyunshan Pharmaceutical, the industry places a significant emphasis on TCM, with Sinopharm leading in global TCM modernization efforts.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Since joining the World Trade Organization in 2001, China&#8217;s pharmaceutical industry has experienced remarkable growth. In 2021, it accounted for 12% of the global pharmaceutical market, second only to the United States, which accounted for a substantial 40% of the world&#8217;s total revenue. By 2022, despite challenges from the COVID-19 pandemic, the industry demonstrated resilience, [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":60075,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"episode_type":"","audio_file":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","date_recorded":"","explicit":"","block":"","filesize_raw":"","footnotes":""},"categories":[1170,1173,1171],"tags":[1400,2977,3779,2520,2524],"daxue_industry":[],"class_list":["post-47250","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health-china","category-medical-china","category-pharmacy-china","tag-healthcare-market-china","tag-medical-health-care-china","tag-otc-healtcare","tag-pharmaceuticals","tag-prescription-drugs"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China&#039;s pharmaceutical industry emerging as key R&amp;D player<\/title>\n<meta name=\"description\" content=\"China&#039;s pharmaceutical industry includes generics, patented medicines, and over-the-counter (OTC) medications\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/daxueconsulting.com\/pharmaceutical-industry-china\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China&#039;s pharmaceutical industry emerging as key R&amp;D player\" \/>\n<meta property=\"og:description\" content=\"China&#039;s pharmaceutical industry includes generics, patented medicines, and over-the-counter (OTC) medications\" \/>\n<meta property=\"og:url\" content=\"https:\/\/daxueconsulting.com\/pharmaceutical-industry-china\/\" \/>\n<meta property=\"og:site_name\" content=\"Daxue Consulting - Market Research and Consulting China\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-21T03:55:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-23T03:55:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/07\/daxue-consulting-china-pharmaceutical-cover-image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"971\" \/>\n\t<meta property=\"og:image:height\" content=\"648\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Allison\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@DaxueConsulting\" \/>\n<meta name=\"twitter:site\" content=\"@DaxueConsulting\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Allison\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"15 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/daxueconsulting.com\/pharmaceutical-industry-china\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/daxueconsulting.com\/pharmaceutical-industry-china\/\"},\"author\":{\"name\":\"Allison\",\"@id\":\"https:\/\/daxueconsulting.com\/#\/schema\/person\/556df6404160acc87e36b39b0b6b098d\"},\"headline\":\"China&#8217;s pharmaceutical industry: from manufacturing hub to key R&amp;D player\",\"datePublished\":\"2023-11-21T03:55:39+00:00\",\"dateModified\":\"2023-11-23T03:55:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/daxueconsulting.com\/pharmaceutical-industry-china\/\"},\"wordCount\":1089,\"publisher\":{\"@id\":\"https:\/\/daxueconsulting.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/daxueconsulting.com\/pharmaceutical-industry-china\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/daxueconsulting.com\/wp-content\/uploads\/2022\/07\/daxue-consulting-china-pharmaceutical-cover-image.jpg\",\"keywords\":[\"healthcare market China\",\"Medical &amp; 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