China continues to dominate the pharmaceutical market in Asia, both as a producer of active pharmaceutical ingredients (API) and as a major manufacturer of non-prescriptions medicines and biological products. Since 2013, the Chinese pharmaceutical market has been the largest in the region and second only to the United States .
A key driver for the phenomenal growth of pharmaceutical sector are measures to extend healthcare to more Chinese citizens. Significantly incentives are also being explored to increase both domestic and foreign direct investment. Analysts also point out that a large number of original drug patents are expiring - another factor that could stimulate the domestic drug manufacturing industry.
When it comes API, it is well known that China has the greatest concentration of suppliers and dominates the market with just over a 60 percent share of the global market. China supplies leading transnational corporations as well as manufacturers in developing economies.
Packaging Sector
Overall, the consumer market remains healthy and continues to drive the growth in China's packaging industry. So much so that packaging demand in China is expected to surpass the United States by 2017, says market researchers Smithers Pira.
