Skepticism about the effectiveness of Western medicine in China has led to the rising popularity of Chinese patent medicine, which is considered to be less toxic and have fewer side effects. Increasingly, patients are choosing traditional Chinese medicine as their primary treatment. As a result, demand for traditional Chinese patent medicine has been growing rapidly.
Over the five years through 2015, revenue for the Chinese Patent Drug Manufacturing industry has been growing at an annualized rate of 22.6% to an estimated $121.9 billion.
The Chinese Patent Drug Manufacturing industry in China processes Chinese herbs to produce traditional Chinese patent medicine in capsule, powder, and liquid forms. Chinese traditional medicine pills are not manufactured by this industry (see IBISWorld industry report 2730).
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.