Driven by multiple factors such as an increasing number of patients, growing unmet clinical needs, increased investment in innovative drug research and development, and favorable government policies, the global and Chinese markets for innovative drugs have been booming. The compound growth rates between 2016 and 2020 were 3.0% and 2.2%, respectively. The pharmaceutical market can be divided into anti-tumor drugs and other drugs. The global and Chinese markets for anti-tumor drugs have continued to grow rapidly, with annual compound growth rates of 12.5% and 12.1%, respectively, between 2016 and 2020. Biopharmaceutical companies are developing more innovative drugs, and diversification of R&D models is gradually becoming a new trend in the market. Based on research on this market, Frost & Sullivan (Frost & Sullivan) released the 'Independent Market Study on Innovative Drugs' (issued on April 16, 2022).
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Mr. Ma, Frost & Sullivan
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E-mail: fred.mao@frostchina.com
