China Drug Market to Boom – Diabetes Alone a $3.2 Billion Business by 2016
China’s pharmaceuticals market is expected to grow at a 15-to-18% pace through 2016, totaling $165 billion by the end of that period, with roughly $3.2 billion spent on diabetes drugs, Bloomberg reported.
The drug industry in general is struggling to produce revenue growth, in the wake of patent expirations on blockbuster drugs and the discovery of too few new drugs.
Bloomberg quoted the International Diabetes Federation as estimating that just $194 a year is spent treating the average diabetes patient in China, while more than $5,000 is spent helping each U.S. patient. Any narrowing of that gap would help drug makers, it seems.
From the editors of YCharts, which includes the just-released YCharts Pro Platinum for professional investors.