In the five years to 2013, the China biochemical product manufacturing market has been growing 21.8% per year to total $33.1 billion in 2013. The industry has benefited from the rapid development of the national economy, rising household disposable incomes and increasing investment in the healthcare sector by the Chinese government. Improvements in China's social security system, the establishment of a public health system establishment and the formation of the new rural cooperative medical care system have driven up demand for various industry products, particularly vaccines.
The Biological and Biochemical Product Manufacturing industry in China has a low concentration level, with revenue from the top four enterprises – China National Agricultural Development Group, Liaoning Cheng Da, Shenghua Group and Sinopharm – accounting for 19.5% of the total. There are a wide and growing range of industry products and most companies only manufacture one type of product or a few related products, which leads to low market share concentration.
More foreign investment is flooding into the industry due to the favorable conditions it enjoys and its potential for future growth. This is leading to increased competition and many domestic enterprises are enlarging their scale, diversifying their product ranges, and working to establish internationally renowned brands.
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