KPMG: China has become the second largest pharmaceutical market in the world

2013-04-18 source: KPMG, one of the four largest accounting firms of Xinhua news agency, reported on April 16 that from 2011 to 2012, China's pharmaceutical industry recorded 132 M & A transactions, 94 of which have been announced involving a total of US $5.2 billion, indicating that China has surpassed Germany and Japan to become the world's second largest pharmaceutical market after the United States According to KPMG's report, China will become an important member of the life science and health care industry and a leader in new drug development and innovation in the next decade According to the report, China's life science and health care industry, including medicine, medical equipment or sales network, faces the challenge of highly fragmented industry structure, and this multi-level market is still full of cheap and poor quality products However, the current market is undergoing major changes and becoming more mature, which are driven by two factors: first, the new regulatory system urges enterprises to pay more attention to product quality and safety; second, the operation mode of enterprises is becoming more perfect to meet increasingly stringent regulatory requirements These factors laid a good foundation for the development of China's life science industry