Industry Overview
The global pharmaceutical industry kept growing recently, which was benefiting from increased consciousness of human health, marked trend of aging population, as well as the innovation and development of pharmaceutical technology. Accordingly, the market of prescription drugs has been keeping growing strongly due to the considerable medical demand produced by more than 1.3 billion population of Chinese market. According to industry reports, the Chinese pharmaceutical market was growing at a compound annual growth rate (CAGR) of 11.4% from 2012 to 2016 of which the prescription drug market was growing at a CAGR of 11.6%. The sales of imported prescription drugs in Chinese market reached RMB96.3 billion in 2016, increasing at 13.1% CAGR from 2012 to 2016, which outperformed the growth rate of overall sales market of prescription drugs in China.
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