In 2023, the business enterprise R&D expenditure in the manufacture of basic pharmaceutical products and pharmaceutical preparations in China stood at 30.5 billion US dollars PPP. The forecasted data from 2024 to 2028 show a steady increase: 33.97 billion in 2024, 37.72 billion in 2025, 41.43 billion in 2026, 45.1 billion in 2027, and 48.74 billion in 2028.
The year-on-year growth rates are as follows:- 2024: 11.38%- 2025: 11.03%- 2026: 9.82%- 2027: 8.86%- 2028: 8.08%
The five-year compound annual growth rate (CAGR) stands at 9.82%, indicating robust growth in R&D expenditure over this period.
Future trends to watch for in China's pharmaceutical R&D sector include the emergence of biotech innovation, increased government support for pharmaceutical advancements, and growing international collaborations. These factors are expected to further drive investment and research activity in the industry.
