The China drug delivery market is projected to grow at a compound annual growth rate of 9.28% from a market value of US$63.697 billion in 2020 to US$118.567 billion in 2027. The growth is attributed to the rising number of market players in the pharmaceutical industry.
The major Pharma dependent population is the age group above 64 years. Additionally, patients with Chronic Diseases such as cardiovascular disorders, cancer, diabetes, and many more also are the major consumer of the drugs in the country. In the last few years, due to the growing health care innovations, the life expectancy age has increased. Due to this, the population of old age people is rising in China. Furthermore, the rising number of patients with chronic diseases has also boosted the demand for drug delivery in China in the last few years. And this is expected to grow during the forecast period.
China is the most populated country in the world for the last many years. Due to this, currently, the population of the old age group has also increased and is projected to rise in upcoming years as well. In 2020, as per the report by World Bank, the total population of the age group 64 years and above was 168 million, which is an 11.9% rise from 2019. This increasing aging population is one of the key factors driving the drug delivery market in China. And as the population of age group 15 -64 years is also at its peak, hence this will lead for the growth in aging population in upcoming years. Therefore, this steady growth in the aged population is projected to boost the drug delivery market during the forecast period.
The deaths rate caused due to non-communicable diseases is growing over the last decade in the country. As per the World Bank report, there is an increase in 89% of deaths which are caused due to non-communicable diseases in 2019. The non-communicable diseases include chronic diseases such as diabetes, cancer, cardiovascular disorders, chronic kidney diseases, and other diseases such as Alzheimer's, Parkinson and many more. Patients with such diseases require regular prescribed drug delivery on daily basis. Hence, the increase in the number of such individuals in China is a key factor in the growing demand for drug delivery. Which led to the market growth in China's drug delivery market.
Many of the pharmaceutical companies in China are leading enterprises for the export of drug delivery over the world. However, due to the country being the source of Covid-19, many countries around the world are on the verge of breaking the contract of the healthcare-related sector of China. This is expected to hamper the growth of China’s drug delivery market.
One of the top international health care groups based in China, Shanghai Fosun Pharmaceutical, in January 2022, signed a collaborative agreement with leading drug discovery and developmental company Insilico Medicine which is a US-based artificial intelligence-driven company. The collaboration is signed for the purpose to develop and discover drugs using artificial intelligence to target different groups in the world.
|Market size value in 2020||US$63.697 billion|
|Market size value in 2027||US$118.567 billion|
|Growth Rate||CAGR of 9.28% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Application|
|Companies covered||Gerresheimer AG, Pfizer Inc., Shanghai Fosun Pharmaceutical, Hutchison China MediTech Limited, GL Montrose, Becton, Dickinson and company|
|Customization scope||Free report customization with purchase|
Shanghai Fosun Pharmaceutical
Hutchison China MediTech Limited
Becton, Dickinson and company
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