The Rapid Growth of the Bio-pharmaceutical Industry in China
Rapidly expanding in China, the bio-pharmaceutical industry has outgrown other markets by a vast margin. The growth of this industry is unparalleled in Asia, and it's pushed China to the forefront of the bio-pharmaceutical industry. This rapid growth has created a huge need for jobs and individuals that are trained and qualified.
As part of China's 12th Five-Year Plan, the bio-pharmaceutical sector is on the rise. Once considered a secondary resource for producing generics and contract research, it's quickly become one of the leaders for global companies. In fact the industry is developing at such a rapid rate, China's government has now shifted the primary focus to this sector.
The bio-pharmaceutical industry is booming at an incredible rate, boosted by government investment and the increasing rate of Western educated Chinese employees. More and more Chinese companies are putting their money into this new sector, and spurring new drug discovery and development.
Want to learn more about the rapid ascension of bio-pharmaceutical advancements in China? Here's a snapshot of just a few of the companies making their mark.
Merck in China - One of the biggest global pharmaceutical companies in the world has announced a huge expansion in China. Their commitment to build a $1. 5 billion USD research and development center will begin shortly in Beijing. This new facility once done will become the largest hub of bio-pharmaceutical development in China.
SiBiono Gene-Tech - The Shenzhen based company has released the world's first gene therapy drug called Gendicine. Meant to treat cancer in the head and neck, this wonder drug has drawn many cancer patients, as well as investors and companies to SiBiono Gene-Tech.
Sinovac Biotech - Developing their own late-stage trial of vaccines designed to help hand, foot and mouth disease patients, Sinovac is one of the many leading the way in China. Not only that but their hepatitis research has grown to meet or exceed many of the global giants in this sector.
BGI - Also located in Shenzhen, China, BGI is now the world's largest rapid gene sequencing center. Not only that but they are now researching the gene that is known to govern human intelligence. Their research could help developmentally challenged children, and expand our understanding of humanity.
Although the expansion of bio-pharmaceutical companies in China is taking off, experts are reluctant to crown China as the leading innovator. However this hesitant response should soon fall to the wayside, as China continues it's push to become the premier world-class nation in bio-pharmaceutical development. The single biggest sign that China is pushing ahead of the competition stems from the departure of hiring Westerners for managerial positions.
Increasingly China is increasingly looking toward it's own citizens to fill the growing need for bio-pharmaceutical technicians. With the growing evolution of this industry, and the expansion and increased investment opportunities, it's just a matter of time before the rest of world recognizes China's incredible growth in this segment.