Sunday, 20 Nov 2011
Biopharmaceutical Opportunities in China
The biopharmaceutical industry in China has experienced impressive growth in recent years. Driven top down by state prioritization as a key high growth sector, it has benefited from a significant amount of government investment and policy support. Investment to date has resulted in a major network of showcase science parks; top universities; Clinical Research Organisations (CROs) partnering with multinationals; and the best of its manufacturing facilities operating to international standards. The biopharmaceutical market is expected to maintain double digit growth of approximately 20-25% and to be worth over $ 35 billion by 2015. The 12th Five Year Plan also sets forth a government strategy to invest RMB 40 billion in the biopharmaceutical sector. This rapid growth will contribute to China becoming the world’s second largest pharmaceutical market by 2015.
Research is critical when considering new markets. UKTI provides market research services which can help UK companies doing business overseas including:
Overseas Market Introduction Service (OMIS). Bespoke research into potential markets, and support during your visits overseas.
Export Marketing Research Scheme. In depth subsidised research service administered by the British chambers of Commerce on behalf of UKTI
Contact your local International Trade Advisor if you are interested in accessing these services, or for general advice in developing your export strategy.