The import of medicaments for therapeutic and prophylactic use in dosage to China has experienced notable variations over the years. From 2013 to 2023, we observed significant yearly changes, with the year-on-year growth rate ranging from 1.51% in 2015 to 21.93% in 2017. By 2023, the import value stood at $22.63 billion. The compound annual growth rate (CAGR) over the last five years was 4.52%, indicating steady growth despite some fluctuations.
In 2022, there was a decline of 5.06% in imports, while 2023 saw a mild recovery with a year-on-year increase of 4.16%. Forecast data from 2024 to 2028 suggests a conservative growth trajectory with an expected forecast 5-year CAGR of 2.68% and a 14.13% growth over the period.
Future trends to watch for:
- Regulation changes and their impacts on import dynamics.
- Technological advancements in medicine and therapy driving demand up or down.
- Potential for increased domestic production reducing dependency on imports.
