ABSTRACT
China’s population of 1.3 billion (compared to 300 million in the United States) makes up more than 20% of the world’s population. Current gross domestic product (GDP) is US$1.4 trillion and is projected to grow to US$43 trillion by 2050 at an annual rate of 8 to 10%. With 6% of that GDP expected to be spent on health care, China’s pharmaceutical market is expected to be the only one that continues double-digit growth into 201
• 2000: US$5 billion (ranked eleventh in worldwide pharmaceutical sales) • 2005: US$12 billion (ranked ninth) • 2010: US$24 billion projected (ranked seventh) • 2020: Projected to be top ranked alongside the U.S. market
In addition, China is already well established as a low-cost supply source, often with shorter lead times. China has a vast pool of qualified technical labor. Currently, there are 13 million students enrolled in undergraduate programs and another 500,000 in postgraduate programs. In 2004, there were 120,000 chemistry degree candidates, and 29,000 graduated with degrees in chemistry. The previous year, there were more than 20,000 returnees who brought with them postgraduate degrees
and technical expertise, as well as years of experience and training with Western chemical manufacturing companies and multinational pharmaceutical companies.
