Wellesley, Mass, March 27, 2017 (GLOBE NEWSWIRE) -- New proprietary research by BCC Research reveals that China is expected to surpass the United States as the world's largest drug-consuming country by 2025, if growth rates from 2016-2021 are any indication. During this period, the Chinese drug market will grow at a 13.9% compound annual growth rate to reach $61.7 billion in the end year.
BCC Research's Infectious Disease Drugs: The Chinese Market reports China's large number of patients has created opportunities for the producers and distributors of infectious disease drugs in both China and other countries. In addition to the 39 common communicable diseases, the country has more than 100 types of communicable and noncommunicable infectious diseases, which consume a huge volume of drugs.
- China is one of the world's largest and fastest-growing drug markets, achieving a 16.8% CAGR in 2015.
- China's infectious disease drug market will grow by almost $40 billion by 2021.
- Demand for viral hepatitis, pulmonary tuberculosis and AIDS drug treatment is driving explosive growth in the 39 most common communicable diseases segment.
"The 39 most common communicable diseases have relatively small market values compared to the other more than 100 infectious diseases," says Kevin Fitzgerald, BCC Research editorial director. "Among these diseases, viral hepatitis is the largest sub-segment, accounting for about one-fifth of the total number of new communicable infectious disease cases found in China each year."
Largest and Fastest-Growing Markets
By sales channels, city hospitals will continue to be the largest one for infectious disease drugs in the Chinese market, although its market share will decline from 2015-2021. By sales channels, retail will be the fast-growing segment, with a CAGR of 15.4% from 2016 through 2021.
"By drug product, entecavir will continue as the largest infectious disease drug for the next five years, taking 6.7% of the market by 2021, unless there's a new drug that can replace it in the treatment of viral hepatitis," Fitzgerald notes. "By drug product, voriconazole injection is likely to be the fastest-growing one."
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.
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