China’s Biopharma Industry Set to Become World’s Third-Largest Innovative Drug Market by 2028
China’s biopharma sector is on track to become the world’s third-largest market for innovative drugs by 2028, according to McKinsey & Company’s upcoming Asia Biopharma Report. The projection highlights the country’s transition from being a generics-heavy pharmaceutical market to an emerging global powerhouse in drug innovation. In 2023, China’s pharmaceutical market reached $125 billion, with […]