Frost & Sullivan releases the 'Independent Market Study on Innovative Drugs'

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. The number of innovative drugs developed by biopharmaceutical companies has increased, and the diversification of research and development models is gradually becoming a new trend in the market. Based on research into this market, Frost & Sullivan (Frost & Sullivan) released 'An Independent Market Study on Innovative Drugs' (released on January 16, 2022).