There was a time when China has been described as an economy on the rise in the branch of health care. According to the study, China was poised to because they managed to become a rising economy in such a short span of time. It has finally yielded results in the form of accomplishments-fruquintinib and Artemisinin are only some of China pharmaceutical's latest triumphs.
In another landmark moment after a long time, China has successfully created the drug fruquintinib, a cancer drug used by oncologists. The best thing about it is it's homegrown, making it the second-ever drug created by Chinese pharma, after Artemisinin. The nature of these drugs-an anti-cancer drugs and a malarial aid-makes it an important moment for Chinese pharmaceuticals, Telegraph notes.
These two drugs are of different varieties. Fruquintinib is manufactured by Hutchison China Meditech. It is a drug meant for colorectal cancer-it cuts off blood circulation to tumors, effectively making it benign. With trials in the US starts, it is soon about to be circulated all over the world.
There's no surprise where the success of China pharmaceuticals is coming. China is a manufacturing powerhouse and has always been. With a value-added economy that's on the rise, health care was the next logical step for them. With a population increasing and land mass getting smaller by the day, it only makes sense for them to focus on how to get their people better, before focusing on profits.
Due to its sheer size, CNBC reveals that China has one of the largest pharmaceutical markets on the planet. In 2017, that market amassed about $122.6 billion in profits. Modest projections state that, with emerging pharmaceutical markets compared, China will have about $145 billion to $175 billion in profits by 2022 alone.
China sees pharmaceutical as its next big import, with ambitions ranging from exporting generic medication to revolutionizing, healing wonders. Thanks to regulations made in the National Medical Products Administration, China has emerged as one of the world's largest producers of pharmaceutical drugs and has also emerged to have one of the most professional medicine sectors in most countries.
Beigene and Jiangsu Hengrui are just some of the new pharmaceuticals dotting the market, and it's only the beginning. As more drugs flood the market and more research are done into specific drugs for acute diseases, China's pharmaceuticals will remain on the rise.
