Frost & Sullivan releases 'Research on the Global Innovative Medicines Market'

The pharmaceutical industry is both a traditional and strategic emerging industry, with innovative drugs being a shining star within it. Currently, China is undergoing a transformation from generic and imitation drugs to independent innovation drugs. In addition, biopharmaceuticals are also a special presence in the pharmaceutical industry. Compared to chemical drugs, the development of biopharmaceuticals started relatively late, entering large-scale industrialization only in the past 40 years. Although it started late, the biopharmaceutical industry has become one of the segments in the global pharmaceutical industry where blockbuster products with annual revenues exceeding $1 billion are most likely to emerge. According to annual reports of various pharmaceutical companies, among the world's best-selling drugs in 2019, seven were biopharmaceuticals. Innovative biopharmaceuticals have provided new treatment options for a variety of complex, difficult-to-treat diseases such as tumors, heart failure, and Alzheimer's disease, which are often lacking in medical resources.