Retail sales of pharmaceuticals in China by month 2011-2019
The graph shows the retail trade revenue of traditional Chinese and western pharmaceuticals in China from January 2011 to November 2019. The revenue figures sank since 2018. In the most recently reported month, the traditional Chinese and western medicine retail sales in China amounted to over 52 billion yuan.
Pharmaceuticals retail in China– additional information
China is one of the largest and fastest growing pharmaceutical markets in the world. As of 2018, China was the world’s second-largest pharmaceutical market, following the United States with a market share of around eleven percent in global pharmaceutical sales. In 2018, China’s pharmaceutical market had increased by four percent compared to the previous year. A year before, the production value of China’s pharmaceutical industry had amounted to over 2.8 trillion yuan, showing a continuous growth over the past decade. 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.
Pharmaceuticals retail in China– additional information
China is one of the largest and fastest growing pharmaceutical markets in the world. As of 2018, China was the world’s second-largest pharmaceutical market, following the United States with a market share of around eleven percent in global pharmaceutical sales. In 2018, China’s pharmaceutical market had increased by four percent compared to the previous year. A year before, the production value of China’s pharmaceutical industry had amounted to over 2.8 trillion yuan, showing a continuous growth over the past decade. 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.
