Which Country Exports the Best Pharmaceutical Equipment in World?

According to one of the researches, the international pharmaceuticals market was worth more than $935 billion in 2017 which is expected to reach $1170 billion by the end of 2021. Almost all the major countries including USA, Germany, and India are playing crucial role in the production of high-quality medicines and pharmaceutical equipment that gives rise to better industry practices. However, when it comes to the question, ‘which country exports the best pharmaceutical equipment in world, China certainly tops the list. 

It’s no surprise that China is the world’s leading exporter and the field of pharma is obviously not an exception. From synthetic chemicals to specialized medical apparatus and pharmaceutical equipment, China is one of the leading industries and the top exporter of best pharma equipment in the world. 

Pharmaceuticals as a Prime Growth Factor for China

Expanding at a massive rate, China’s pharmaceutical market seems confident enough to outperform Japan. Noticeably, the old-age ratio is expected to reach over 28% by the end of 2035, China’s increasing old-age population is hugely observed as the stimulant for the country’s fast growing pharmaceutical market. 

China being the world’s third largest drug industry was valued at $105 billion back in 2014. This figure is expected to reach $200 billion by the end of next year, uplifting its supremacy as a dominant player in Asia.

Flourishing at a rate that overtakes GDP growth is offering lots of opportunities for budding investors and for people who’re really interested in investing in the pharma sector.

According to Senieer – A Pharmaceutical Equipment Manufacturer in China, the rapid change in the living conditions, the interest of general citizens to live a luxurious life, rising old-age statistics and the introduction of one-child law will help China maintain its number one ranking in the field of pharmaceuticals; be it medicines or equipment.

Previously, a huge ratio of Chinese citizens had limited access to the healthcare facilities. The major reason behind this situation was limited funding from the government as compared to the other advanced countries that grants huge funding to the healthcare sector in order to facilitate their citizens.

However, the Chinese government has taken great steps in the recent years to make their healthcare sector more thriving and successful than ever before.

The National Plan for Medical and Health Service System introduced back in 2015 gave a comprehensive 5-years plan for the healthcare reformation that includes infrastructure development, better insurance, curtailed costs and new investment opportunities for investors who’re willing to invest in large-scale manufacturing setups for top-notch drugs formulations and manufacturing of high-end pharmaceutical equipment that can be exported worldwide for increased foreign revenues.

Opportunities in the Pharmaceutical Equipment Sector in China

As mentioned above, China’s growth in the pharmaceutical equipment sector is so extensive that it will soon overtake Japan. Also, increasing mergers and acquisitions will help small companies expand and become more interesting and attractive for international market leaders. 

Also, the local manufacturers would be able to reach international markets due to the Chinese government’s frequent revisions of laws and regulations. To recall, the value added tax reforms launched back in 2013 curtailed the rate of taxation for manufacturers dealing in the biomedical niche. 

The steps taken by the Chinese government in R&D department has also encouraged potential investors to invest in the healthcare field.

Conclusion

Although, the role of world’s leading countries like USA is evident in the pharmaceutical sector. However, if we see the steps taken by China for the betterment of healthcare, especially reduction of tax legislations for potential investors, it looks like the Republic of China would surely be able to maintain its world ranking in the coming years.