China is Expected to Become the Fifth Largest Drug Market in the World by 2010

Dublin (PRWEB) April 12, 2006

Research and Markets (http://www.researchandmarkets.com/reports/c35468) has announced the addition of Chinese Latest Regulations for Imported Drug Registration: A Comprehensive Guidebook for Foreign Pharmaceutical Companies to their offering

China possesses a fourth population in the world and has one of the largest drug markets round the world. By 2003, sales on the Chinese drug market have reached $6.1 billion dollars, an increase of 2.3 fold over 1998 level. A series of factors, such as an increasingly ageing population, the accelerating growth of the urban population as well as the expansion of healthcare covering urban and rural, will expand the Chinese drug market with a growth rate of 20-25 percent per annum in the next five years. China is expected to become the fifth largest drug market in the world by 2010.

Since the reform and open door policy implemented by Chinese authorities in the late 1970s, the Chinese drug market began opening up to the world step by step, which gave a fillip to the imported drugs from overseas pharmaceutical manufacturers and producers. By 2003, sales of imported drugs have shared one fifth on the Chinese drug market. As China joins the World Trade Organization (WTO) and integrates more completely into the global economy, it will further open the door to a lucrative drug market for overseas pharmaceutical companies. More and more overseas pharmaceutical manufacturers and producers expect to enter such drug market and seize a larger part of this drug market. To enter such a lucrative drug market, the first obstacle faced by overseas pharmaceutical manufacturers and producers is how to file the application for their imported drug registration with Chinese pharmaceutical authorities. The latest "Measures for the Administration of Drug Registration" have entered into force since May 1, 2005. These "Measures" provide detailed requirements and procedures of application and approval for imported drug registration.

This China Pharmaceutical Guidebook Series is based upon these measures. The aim of this guidebook series is to guide overseas pharmaceutical manufacturers and producers to achieve successful application and approval for their imported drug registration. In this guidebook series, overseas pharmaceutical manufacturers and producers can easily find out every answer that they will meet question during process of application and approval for their imported drug registration.

For more information visit http://www.researchandmarkets.com/reports/c35468

Laura Wood

Senior Manager

Research and Markets

Fax: +353 1 4100 980

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