Industry Analysis & Industry Trends
With price advantages and the world's largest population, China became the largest producer of pharmaceutical raw materials (PRMs) in the world. For major products in the industry, China accounts for roughly 90% of global vitamin C output, 70% of citric acid output and 90% of penicillin output.
Rising health concerns of the Chinese people and strong global demand led to rapid industry growth in the past five years. However, as the global economic downturn began to affect industry exports from the fourth quarter of 2008, exports stagnated in 2009.
Total revenue for the Pharmaceutical Raw Material Manufacturing industry in China is expected to be $46.17 billion in 2011, up 20.1% from 2010. Revenue increased stably in the past five years at an average annual rate of 18.8%.... purchase to read more
Industry Report - Starting a New Business Chapter
As discussed in the Basis of Competition section, companies can be classified into three main strategic groups in the industry, for which levels of barriers to entry are different.
Certifications of companies and products are the primary entry barriers to the industry, levels of which depend on the abilities of companies. Good manufacturing procedures certification is the very basic one requiring companies in the industry to meet certain sanitary standards in all operating aspects, such as raw materials, staff, equipment, manufacturing processes, packaging, transport and quality control. Companies must have GMP certification to operate in the industry, and only products with such certification are permitted to be produced... purchase to read more