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NOIDA, India — According to a new report from industry research firm RNCOS, the pharmaceutical market in China is likely to reach $87.2 billion by 2014, growing at an impressive compound annual growth rate of around 20 percent during 2011-2014.
The report, titled “Emerging Pharmaceutical Markets Globally," states that the growth of the industry will be driven by the high population base, healthcare spending and high prevalence of chronic diseases.
According to the report, increasing penetration of health insurance has constructed a suitable platform for stronger pharmaceutical market growth.