The China pharmaceutical contract manufacturing (CM) market is projected to grow at a CAGR of around 12.1% from 2022 through 2028, according to a report from Research & Markets.
The increasing prevalence of non-communicable diseases, such as (Cardiovascular disease) CVD, and cancer, with the increasing geriatric population is also boosting the market growth. For instance, the incidence of prostate cancer has increased rapidly in China in recent years. According to the World Health Organization (WHO), in 2018, China witnessed around 4.2 million new cancer incidences and over 2.8 million cancer mortalities. An expanded CM capability in China is enabling companies to produce treatments for those diseases.
Moreover, the country is also aimed to reduce cardiovascular events in patients with increased triglycerides and low-density lipoprotein (LDL) cholesterol. It shows the efforts of China contract manufacturers towards drug development, which in turn is projected to increase the China pharmaceutical contract manufacturing market.
In addition, the increasing development of China pharma trades to the US pharma industry and rising demand for biosimilars is also driving the market growth. However, issues over quality control and stringent government regulations are creating a hindrance in the growth of China's pharmaceutical contract manufacturing market. Additionally, increasing advances in drug discovery & development and MAH (Marketing Authorization Holder) pilot program are expected to offer significant opportunities for market growth.