Retail sales of pharmaceuticals in China by month 2018-2019
Retail trade revenue of traditional Chinese and western medicine in China from January 2018 to February 2019 (in billion yuan)
The graph shows the retail trade revenue of traditional Chinese and western pharmaceuticals in China from January 2018 to February 2019. In January to February 2019, traditional Chinese and western medicine retail sales in China had amounted to about 93 billion yuan.
Pharmaceuticals retail in China– additional information
China is one of the largest and fastest growing pharmaceutical markets in the world. As of 2013, China was the world’s third-largest pharmaceutical market, following the United States and Japan with a market share of nearly nine percent in global pharmaceutical sales. In 2013, China’s pharmaceutical market had increased by 14 percent compared to the previous year. That year, the production value of China’s pharmaceutical industry had amounted to over two trillion yuan, up 18 percent year-on-year. Major reasons for the market expansion in China may be seen in a rising health awareness, increasing standards of living fueled by economic growth as well as a growing need for medical care due to the aging population.
In spite of its rapid growth, the pharmaceutical market in China is far from mature. By 2016, the pharmaceutical spend per capita in China was estimated to reach 121 U.S. dollars. For comparison, the expected pharmaceutical spend in the United States had averaged out to 892 U.S. dollars and 180 U.S. dollars in Brazil.
With a history of over two thousand years and despite claims of the field being antiquated, traditional Chinese medicine still has a place in today’s world. It took up about one fifth of China’s total pharmaceutical market in 2011 and is widely used as an alternative treatment approach in other parts of the world.
Retail trade revenue of traditional Chinese and western medicine in China from January 2018 to February 2019 (in billion yuan)
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