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China’s Cancer Market Is Evolving Fast, Four Multinationals Dominate

 
• By Mainbayar Badarch

In the Chinese pharmaceutical market, sales of anti-tumor drugs have been showing a steady growth trend in recent years as cancer patient numbers continue to rise.

China flag healthcare
• Source: Shutterstock

In 2020, the number of new cancer cases in China reached 4.6 million, accounting for about a quarter of the global cancer cases. Of which about 1.5 million were advanced cancer patients. Affected by population aging, environmental pollution and unhealthy lifestyles, the number of new cancer cases in China will further increase to 5 million by 2024, which indicates the growing demand for anticancer drugs. China’s anti-tumor drug market is booming, and the market size has increased from CNY139.4bn in 2017 to CNY197.5bn ($28.3bn) in 2020, with a compound annual growth rate of 12.3%. It is expected to reach CHY326bn in 2023.

In recent years, anti-tumor treatment targets have emerged in an endless stream, and related targeted drugs have been innovated, which can bring precise treatment according to patient genotype. The Chinese...

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