Global drug market sales of more than $1.5 trillion in 2023, China's pharmaceutical industry is moving towards a "global new"

Pharmaceutical Network Market Analysis: Due to various factors, the global pharmaceutical industry has achieved rapid development, at the same time, the global pharmaceutical market has also been developedAccording to the statistics, the global pharmaceutical market will reach $1.32 trillion in 2020 and the global pharmaceutical market will exceed $1.5 trillion by 2023
In addition, the industry said that the global pharmaceutical market in the market demand to drive steady growth, 2019 output value is estimated to be about 1.2 trillion U.Sdollars, and in 2019-2025, with a compound annual growth rate of 7% growth, by 2025, will reach 1.8 trillion U.Sdollars
It is understood that the growth of the total world population, the increase of the degree of social aging, the enhancement of people's awareness of health care and the change of disease spectrum, make human beings pay more attention to the cause of life and healthAt the same time, the acceleration of the global urbanization process, the continuous improvement of the national health care system, a variety of factors have promoted the development of the global pharmaceutical industry
Since 2000, the global drug market growth rate has slowed down due to the increasing difficulty of research and development of large pharmaceutical enterprises, the slow ingress rate of new drug introduction, and the gradual expiration of patented drugs, but the rapid development of the pharmaceutical market in developing countries and the rapid increase in the number of generic drugs will continue to drive the global drug market to maintain rapid development
For the steady development of the global pharmaceutical market, analysts say the expansion of the generic drug market brought about by the central maturity of patented medicines is one of the main drivers of growth in global pharmaceutical spending, particularly in the emerging pharmaceutical marketIn addition, with the economic growth of China and other emerging countries, the increase of government investment in health care and the increase of health insurance coverage, emerging countries have become one of the main drivers of the development of the global pharmaceutical market, market share increased year by yearIn addition, with the continuous development of biomedical technology, it is expected that there will be a large number of biological agents, new preparations and other patented drugs on the market to meet the public's personalized drug demand
Another agency said that with the accumulation of medical information and data analysis and other hardware and software technology mature, the pharmaceutical industry is setting off the trend of digital applicationsAmong them, large factories continue to accelerate the introduction of digital technology to accelerate the process of drug development, in addition to accelerating the development of candidate drugs by artificial intelligence, through the IT platform to real-worldbae to accelerate clinical development, on the other hand, large factories invested in cancer immunotherapy, gene / cell therapy and other innovative therapies are also booming, bringing new systemic treatment thinking to complex and difficult diseases
Data show that from 2018 to 2022, the growth rate of pharmaceutical consumption in emerging markets will remain between 6% and 9%, of which the Chinese market will become the main growth of pharmaceutical emerging marketsIt is understood that China has accelerated the entry of innovative drugs into the Chinese market as the reform of the drug review and approval system continues to deepen
"China's drug review and approval system reform continues to deepen, "life-saving drugs" priority review and approval policy constantly improved and implemented, the entire regulatory process has been greatly accelerated, which makes the number of innovative drugs listed in China continue to climb, but also attracted the world's major pharmaceutical companies to continue to increase investment in research and development innovation in China." "There's an industry that says it
Media reports say the world's major pharmaceutical companies are setting up research and development centers in China to take advantage of the vast amount of data generated by the populous country French pharmaceutical company Sanofi, for example, has opened an Asian research and development center in Chengdu The company will invest 66 million euros in the southwestern Chinese city to study a range of diseases, including diabetes and immune diseases Upjohn, the generic stake unit of U.S drugmaker Pfizer, recently opened its global headquarters in Shanghai The company hopes to build a database to track patient trends and side effects Shionogi co Some new drugs are being developed in China, not in Japan, the US and Europe
China's aggressive efforts to win over global drug developers are paying off China's pharmaceutical market reached $137bn in 2018, up 240 per cent from 2008, according to IQVIA, a research firm That figure is expected to reach $170 billion by 2023 70 years of star-shifting, domestic enterprises have an international standard of innovative drugs, domestic innovation and global innovation gap gradually narrowed, China's pharmaceutical industry is from "China's new" to "global new."