1. Asia’s number one biopharma cluster
Considered Asia's leading cluster for biopharma, China leads the way for R&D spending, companies, jobs and venture capital. Its government has dedicated considerable sums of money and the industry has benefited from an inflow of big pharma companies, which has encouraged domestic drug and diagnostic development.
2. The China market is strong – and growing
China is one of the largest pharmaceutical markets globally and is outpacing the growth of Western life science markets. Its projected average market growth is between 15% and 18% – outpacing even the US and Canada.
3. Life science is China’s priority
Biopharma and advanced medical devices have been listed as priority sectors by the Chinese government. The industry is in the midst of major healthcare reforms to reduce costs and improve product quality.
4. More than 300 investors dedicated to the life sciences
China is home to around 300 venture capital and private equity investors who fund life science companies. With more than US$7 billion has been invested since 2009, life science companies can easily access early-stage risk capital in China, which is essential for surviving the notorious 'valley of death'.
5. Chinese investors are looking for foreign investment opportunities
The Chinese government is encouraging its investors to seek out foreign investment opportunities, with particular emphasis placed on early-stage biotechnology ventures.