CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - China - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-25 00:57:01
Considerable investment in China´s pharmaceutical Research & Development (R&D) sector, along with numerous government-initiated reforms, will spark soaring growth in the country´s pharmaceutical market in the near future. The country´s pharmaceutical market value will climb from an estimated $48 billion in 2012 to a massive $315 billion in 2020, at a Compound Annual Growth Rate (CAGR) of 26.5%.
This increase will see China´s pharmaceutical market become the second largest in the world, with surging revenue propelling industry value significantly closer to that of the US, which we forecast to reach $475 billion in 2020.
An expanding and aging population will also play a key role in boosting China´s pharmaceutical market revenue. With the country´s elderly population expected to account for 19% of its total population of 1.41 billion in 2020, GlobalData expects to see a rising prevalence of chronic diseases, which will in turn spark an increasing demand for treatment.
This factor will also be a primary driver behind the rising value of China´s medical device market â the second largest in Asia, behind Japan â which we forecast will climb from $20 billion in 2012 to $54 billion in 2020, at a projected Compound Annual Growth Rate (CAGR) of 13.1%. The market for western medicine was approximately $8.8 billion in 2007 and was estimated at $46.7 billion in 2012.
Click for report details: www.companiesandmarkets.com/Market/Healthcare-and-Medical/Market ..
Browse all Healthcare and Medical Market Research Reports www.companiesandmarkets.com/Market/Healthcare-and-Medical/Market ..
Browse all Healthcare and Medical Company Profile Reports www.companiesandmarkets.com/Market/Healthcare-and-Medical/Compan ..
Browse all Latest Market Research Reports www.companiesandmarkets.com/Market/All/Market-Research?aCode=f3f ..
Companiesandmarkets.com is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.comâs online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.