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China’s biopharmaceutical market is set to reach 800 billion yuan, with strong demand for new vaccines.
Fu Mingzhong, Executive President of the China Pharmaceutical Commerce Association, recently predicted at the 69th China Pharmaceutical Fair that the biopharmaceutical
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Fu Mingzhong, Executive President of the China Pharmaceutical Commerce Association, recently predicted at the 69th China Pharmaceutical Fair that the biopharmaceutical industry is expected to develop into a market worth between 600 billion and 800 billion yuan in the future, driven by the rapid growth of various specialized segments.
First, the market for new vaccines is booming. By enhancing our capacity to prevent and control major infectious diseases, we can create a vaccine market worth between 100 billion and 150 billion yuan. Second, the market for biotechnology drugs such as antibody therapies and protein-based medications could reach between 300 billion and 500 billion yuan in the future. Diagnostic and testing technologies for major diseases are expected to generate a market of around 50 billion yuan. Personalized therapeutic drugs could potentially establish a market worth approximately 100 billion yuan. Moreover, the regenerative medicine market—particularly for conditions involving organ loss—could give rise to a regenerative therapy and rehabilitation market worth at least 50 billion yuan.
Zhu Jianying, chief analyst at the China Pharmaceutical Industry Information Center, stated that, looking at the various sub-sectors of the pharmaceutical market in 2012, the biopharmaceutical sector was one of the most profitable sub-sectors within the pharmaceutical industry. In 2012, the biopharmaceutical manufacturing sector achieved sales revenue of 177.543 billion yuan, an increase of 18.84% over the previous year; total profits reached 23.013 billion yuan, up 14.3% year-on-year.
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