China is rapidly emerging as a global biopharma powerhouse!
According to McKinsey’s upcoming Asia Biopharma Report, China is projected to become the world’s third-largest innovative drug market by 2028, overtaking Germany. With a $125B pharmaceutical market in 2023 and a 16% annual growth rate in innovative drugs, the shift from generics to groundbreaking therapies is accelerating.
China’s biotech firms are now moving from discovery to preclinical selection twice as fast as the global average, fueled by AI-driven R&D and one of the world’s largest clinical trial bases.
As domestic players gain ground against multinationals, China is set to reshape the global pharmaceutical landscape with blockbuster potential and cutting-edge innovation.
Read the full article here: https://chinatechhub.com/chinas-biopharma-industry-set-to-become-worlds-third-largest-innovative-drug-market-by-2028/
China Tech Hub
China is rapidly emerging as a global biopharma powerhouse!
According to McKinsey’s upcoming Asia Biopharma Report, China is projected to become the world’s third-largest innovative drug market by 2028, overtaking Germany. With a $125B pharmaceutical market in 2023 and a 16% annual growth rate in innovative drugs, the shift from generics to groundbreaking therapies is accelerating.
China’s biotech firms are now moving from discovery to preclinical selection twice as fast as the global average, fueled by AI-driven R&D and one of the world’s largest clinical trial bases.
As domestic players gain ground against multinationals, China is set to reshape the global pharmaceutical landscape with blockbuster potential and cutting-edge innovation.
Read the full article here: https://chinatechhub.com/chinas-biopharma-industry-set-to-become-worlds-third-largest-innovative-drug-market-by-2028/
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