New Report from Clarivate and Healthcare Executive Explores Mainland China’s Biopharma Revolution and Increasing Global Influence By Investing.com

New report analyses Mainland China’s transformation into a global biopharma powerhouse, with key insights for international stakeholders

LONDON, Nov. 18, 2024 /PRNewswire/ —  Clarivate Plc  (NYSE:CLVT) a leading global provider of transformative intelligence, in partnership with Healthcare Executive, published by the China Pharmaceutical (TADAWUL:) Enterprises Association, today announced the release of a new report, A Decade of Innovation, A Decade to Come.

Over the past decade, Mainland China’s biopharmaceutical sector has rapidly advanced to become a global leader in innovation, ranking among the top three for initial drug launches. Driven by reforms, increased investment, and progressive policies, the industry has reduced approval timelines, raised regulatory standards, and improved patient access to advanced therapies. Insights from the Institute for Scientific Information™ show that China’s Gross Expenditure on Research and Development has grown 3.5 times over the past decade, outpacing growth rates in the UK and the U.S.¹ These developments, combined with an evolving healthcare reimbursement system, have enabled both domestic and multinational companies to bring new therapies to market, benefiting millions of patients.

Henry Levy, President, Life Sciences & Healthcare, Clarivate, said:  “Mainland China’s ascent in the biopharma sector reflects the power of sustained investment and strategic reform. This report not only highlights the impressive achievements of the past decade but also underlines the far-reaching potential for Chinese biopharma companies to drive global medical innovation and enhance patient outcomes worldwide.”

Tan Yong, Vice President of China Pharmaceutical Enterprises Association and Publisher of Healthcare Executive, noted:  “The pharmaceutical industry is poised for significant and transformative changes in the upcoming decade, driven by heightened competition. Rapid innovation and intense competition have reshaped market dynamics, leading to more focused and sustainable growth. The report offers the industry a glimpse of how Chinese pharmaceutical companies can prioritize innovation and international expansion in the next decade.”

Alice Zeng, Senior Solution Consultant, Life Sciences & Healthcare, Clarivate, added: “This report is an invaluable resource for global industry stakeholders. For pharma companies worldwide, it provides a timely understanding of Mainland China’s biopharma landscape, covering the…