Biological and Biochemical Product Manufacturing in China - Industry Market Research Report

Revenue for the Biological and Biochemical Product Manufacturing industry has increased at a CAGR of 19.8% to $98.8 billion over the past five years, including a growth rate of 10.6% in 2023 alone, when profit will be 11.7%. The industry has benefited from the development of the national economy, rising household disposable incomes and increasing investment in the healthcare sector by the government. Improvements in China's social security system, the establishment of a public health system and the formation of the new rural cooperative medical care system have boosted demand for industry products, particularly vaccines. Under the influence of the COVID-19 pandemic, people's willingness to receive flu vaccines and other types of vaccines has also been greatly increased. Industry operators manufacture biological and biochemical products and genetically engineered drugs like vaccines, blood products, and diagnostic reagents. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.