Researchmoz presents this most up-to-date research on "China Chinese Patent Medicine Industry Report, 2013 - 2016". The report focuses primarily on quantitative market metrics in order to characterize the growth and evolution of the Remote Patient Monitoring Market.
Chinese patent medicine refers to the certain dosage forms of medicine, under the guidance of TCM (traditional Chinese medicine) theory, made from traditional Chinese medicinal materials in accordance with specified prescription and standard. Chinese patent medicine industry covers the upstream Chinese herbal medicine production and preliminary processing, the middle pharmaceutical sectors as well as downstream commercial institutions of drug circulation and sales.
Currently, the State is enhancing its support for the Chinese patent medicine industry, successively introducing the Continuing Improving TCM Healthcare Policy, Notice on Conducting Construction of Key Projects of TCM Trade in Services and other favorable policies in 2013. In 2010-2013, China’s Chinese patent medicine industry developed rapidly, with revenue soaring from RMB215.4 billion to RMB448.2 billion at a CAGR of 27.7%.
According to hospital terminal data, Chinese patent medicine for the treatment of cardiovascular and cerebrovascular diseases, tumor diseases and respiratory system diseases are the top three categories of Chinese patent medicine in China, respectively accounting for 37.2%, 15.4% and 11.1% market share in 2012-2013. As far as the distribution of Chinese patent medicine formulations is concerned, there is a clear trend of convergence in injection, and injection formulation products in the top three categories of Chinese patent medicine all made up above 50%.
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In the international market, there is a higher recognition of Chinese patent medicine in Asia, especially in Southeast Asia, and many varieties of Chinese patent medicine are included in the Medicare drug list stipulated by Southeast Asian countries, and special departments are established for management research as well. But in the U.S. and European markets, affected by access restrictions and differences in medical health concept, Chinese patent medicine is still only sold as health care product. However, the international market sees strong demand for plant extracts (mostly traditional Chinese medicinal materials) whose export value in 2010-2013 grew at a CAGR of 44% and accounted for approximately 50% of China’s TCM export value.
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