In 2018, the Chinese pharmaceutical industry was valued at approximately 85.78 billion U.S. dollars, making it the biggest medical market in the Asia-Pacific region. Japan's pharmaceutical market size amounted to around 77.46 billion dollars that year.
China’s medical industry on the rise
While still being referred to as an emerging or growing market, China’s projected expenditure on medicine in 2025 puts the country in second place of the global leaders in pharmaceutical spending, behind the United States and before long-established markets such as Japan and Germany. Simultaneously, China’s medical industry is investing heavily in research, with R&D expenses experiencing a significant increase within the past decade.
Asia’s emerging pharma markets
In 2016, the world’s consolidated emerging pharma industries, including China, India, and Southeast Asian markets, surpassed Europe to become the second-biggest conglomerate in global pharmaceutical sales, behind the United States. According to global pharma sales projections for 2025, Southeast Asia and East Asia, excluding Japan and China, will report consolidated sales of over 260 billion U.S. dollars, putting the subregion in third place behind North America and the European Union. All major Southeast Asian pharma markets were forecast to experience medical sales growth in the next few years, with Indonesia, the region’s most populous country, growing at the fastest pace.
Pharmaceutical market size in Asia in 2018, by country or territory
(in billion U.S. dollars)
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Expenditure in billion U.S. dollars
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PhIRDA, & Asia Partnership Conference of Pharmaceutical Associations. (April 8, 2020). Pharmaceutical market size in Asia in 2018, by country or territory (in billion U.S. dollars) [Graph]. In Statista. Retrieved August 24, 2024, from https://www.statista.com/statistics/1284626/apac-pharma-market-size-by-country/
PhIRDA, und Asia Partnership Conference of Pharmaceutical Associations. "Pharmaceutical market size in Asia in 2018, by country or territory (in billion U.S. dollars)." Chart. April 8, 2020. Statista. Accessed August 24, 2024. https://www.statista.com/statistics/1284626/apac-pharma-market-size-by-country/
PhIRDA, Asia Partnership Conference of Pharmaceutical Associations. (2020). Pharmaceutical market size in Asia in 2018, by country or territory (in billion U.S. dollars). Statista. Statista Inc.. Accessed: August 24, 2024. https://www.statista.com/statistics/1284626/apac-pharma-market-size-by-country/
PhIRDA, and Asia Partnership Conference of Pharmaceutical Associations. "Pharmaceutical Market Size in Asia in 2018, by Country or Territory (in Billion U.S. Dollars)." Statista, Statista Inc., 8 Apr 2020, https://www.statista.com/statistics/1284626/apac-pharma-market-size-by-country/
PhIRDA & Asia Partnership Conference of Pharmaceutical Associations, Pharmaceutical market size in Asia in 2018, by country or territory (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1284626/apac-pharma-market-size-by-country/ (last visited August 24, 2024)
Pharmaceutical market size in Asia in 2018, by country or territory (in billion U.S. dollars) [Graph], PhIRDA, & Asia Partnership Conference of Pharmaceutical Associations, April 8, 2020. [Online]. Available: https://www.statista.com/statistics/1284626/apac-pharma-market-size-by-country/