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 Only two decades ago, China was an unhealthy agricultural country; now it becomes the third-largest economy on earth, with a GDP of more than $2, 108 billion in 2006. Experts forecast that by 2020, China will be the world's largest economy Buy Xanax 2mg bars Online.

1, China's pharmaceutical market

The Chinese pharmaceutical market indicates impressive growth lately, in tandem with the country's rapid economic expansion. Pharmaceutical sales in China (excluding Hong Kong) were estimated at US$27.7 billion in 2005, an increase of around 8.5% within the 2004 year. The figure is distorted, however, by the clear presence of traditional Chinese medicines (TCMs). The TCM market is estimated at around US$6.9 billion. How big the market for western-style pharmaceuticals, therefore, may be reckoned at around US$20.8 billion, equal to around US$16 per capita. This makes China one of the largest markets on earth, and second and then Japan in Asia. China is anticipated to end up being the fifth largest drug market on earth by 2010. Growth is likely to be driven by factors such as for instance an increasingly aging population, large market size (urban and rural), government support in restructuring the highly fragmented industry, IPR policies, along with increasing life expectancy.

2, China's pharmaceutical industry

China features a large domestic pharmaceutical industry, providing 80% of China's pharmaceutical consumption. In 1995, approximately 3,000 domestic state pharmaceutical enterprises produced a total output of $12 billion, which significantly more than $3 billion was exported, in line with the State Pharmaceutical Administration of China (SPAC). The Chinese pharmaceutical industry has increased in value having an annual average growth rate of 16.72% over the last few decades.

However, the industry continues to be small-scale, with a scattered geographical layout, duplicated production processes, and outdated manufacturing technology and management structure. The Chinese pharmaceutical industry also features a lower market concentration and weak international trading competitiveness, along with a lack of patented pharmaceuticals developed in-house. As China joins the World Trade Organization (WTO), it needs to integrate more completely in to the global economy. The international competition will place a powerful pressure on the Chinese pharmaceutical industry and further open the entranceway to a lucrative market for non-Chinese companies, especially for pharmaceutical producers and manufacturers. Accession to the WTO binds China by fundamental WTO principles, such as for instance improved transparency and the strengthening of commercial legal procedures. China's WTO commitments range from the tightening of rules on intellectual property, tariff concessions, and market access of non-Chinese service suppliers participating in the distribution of pharmaceuticals. All such moves create additional business opportunities for non-Chinese pharmaceutical companies in China, and consequently, place a powerful pressure on the Chinese pharmaceutical industry.

So, over the past several years, Chinese pharmaceutical firms have now been merging to enhance economies of scale, concentrate resources, and increase competitiveness through vertical integration. Many large, state-owned pharmaceutical companies will also be transforming their ownership structures into joint ventures or public companies to be efficient. According to the SPAC, China aims to end up being the world's leading producer of pharmaceuticals and medical devices and instruments in the first half this century.

3, China's pharmaceutical foreign trade

Lately, many Chinese pharmaceutical enterprises take part in the international pharmaceutical market. They not just export patent medicine but in addition assist their global partners in shortening the cycle and lowering the expense of drug discovery and development by providing cost-effective and efficient outsourcing solutions. Some Chinese pharmaceutical companies even appear in the Nasdaq market successfully, such as for instance WuXi PharmaTech (WX.NYSE) and Simcere Pharmaceutical Group (SCR) etc.

Electronic commerce is introduced to the pharmaceutical enterprises. is one of the very famous B2B website in China. It offers various trade leads including pharmaceutical information among China factory, manufacturers, suppliers, and global buyers.

The pharmaceutical trade shows supply the platform to the leading manufacturers, suppliers and buyers both in the home and abroad. Many pharmaceutical companies attend the China International Medical Equipment Fair (CMEF), China International Oral Care Technology & Equipment Exhibition and Shanghai International Medical Equipment and Furnishment Exhibition Buy Xanax 2mg bars Online

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