Chinese Pharmaceutical Industry is Hot Market for Flow Control and Treatment
The Chinese flow control and treatment market is growing at double-digit rates and will reach just under $1 billion annually by 2017. This the aggregated forecast in a number of McIlvaine Market reports.
Chinese Pharmaceutical Industry Sales in 2017 (Image: McIlvaine Company)
China accounts for 20 percent of the world s population but only 1.5 percent of the global drug market.
The domestic pharmaceutical market is highly fragmented and inefficient with nearly 6,000 domestic pharmaceutical manufacturers. Entry to the WTO has brought a stronger patent system. Medical insurance is now more widespread and pharmaceutical-related regulations have been stiffened.
China s domestic companies account for 70 percent of the market, and the top ten companies about 20 percent. Major international pharmaceutical companies have targeted China as the biggest growth market. They have also recognized the talent pool in China and are setting up research facilities in the country.
The Chinese drug market is projected to grow 22 percent a year, reaching about $200 billion in 2017. Flow control and treatment will represent 0.5 percent of the expenditures. Liquid cartridges will be the leading treatment product and valves will be the leading flow control revenue generator.
Source: The McIlvaine Company