San Francisco, CA (PRWEB) July 17, 2013
In the five years to 2013, the Biological and Biochemical Product Manufacturing industry in China has been growing 21.8% per year to total $33.1 billion in 2013, says IBISWorld. The industry has benefited from the rapid development of the national economy, rising household disposable incomes and increasing investment in the healthcare sector by the Chinese government. Improvements in China's social security system, the establishment of a public health system establishment and the formation of the new rural cooperative medical care system have driven up demand for various industry products, particularly vaccines.
The Biological and Biochemical Product Manufacturing industry in China has a low concentration level, with revenue from the top four enterprises – China National Agricultural Development Group, Liaoning Cheng Da, Shenghua Group and Sinopharm – accounting for 19.5% of the total, according to IBISWorld. There are a wide and growing range of industry products and most companies only manufacture one type of product or a few related products, which leads to low market share concentration.
More foreign investment is flooding into the industry due to the favorable conditions it enjoys and its potential for future growth, says IBISWorld. This is leading to increased competition and many domestic enterprises are enlarging their scale, diversifying their product ranges, and working to establish internationally renowned brands. According to China's twelfth five-year plan (2011 to 2015) the government will implement new policies to ensure the industry develops in line with international standards.
For more information, visit IBISWorld’s Biological and Biochemical Product Manufacturing in China industry report page.
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IBISWorld Industry Report Key Topics
The Biological and Biochemical Product Manufacturing industry manufactures biological and biochemical products and genetically engineered drugs such as vaccines, blood products, and diagnostic reagents.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
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