China's Pharmaceutical Market Grows At Annual Rate Of Fifteen Percent
Dublin. Research and Markets has announced the addition of 2004 China Medical Market Report to their offering.
China's pharmaceutical market is growing at an annual rate of fifteen percent with the ethical drug market valued at over $6 billion. China's over-the-counter drug market is currently valued at over $1.2 billion and is estimated to reach $5 billion by 2010. China's healthcare infrastructure continues to modernize. The State Food and Drug Administration recently announced it would revamp regulations on standards and norms for clinical drug research quality controls.
The Chinese government has also authorized increased funding for improved disease prevention. The Ministry of Health recently authorized $100 million for the construction of disease prevention and control centers in western China. Overseas investors continue to demonstrate their commitment to China. In 2002, foreign direct investment reached over $52 billion.
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