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China's pharmaceutical market is projected to reach USD 126.6B by 2030, growing at a 7.8% CAGR, driven by biologics, chronic disease demand, and innovation.
China procures via centralized volume-based procurement (VBP) to cut prices, led by NHSA, making it the 2nd largest pharma market
China procures essential medicines, generics, vaccines, and chronic disease treatments via centralized tendering
Major buyers include national health agencies and regional healthcare authorities managing VBP and public hospital procurement
Sinopharm, Shanghai Pharma, Fosun, CSPC, and Hengrui dominate VBP tenders, with global players like AstraZeneca and Sanofi also securing bids