Traditional Chinese Medicine to Drive the Growth of Osteoporosis Drug Market in China
The target population for traditional Chinese medicine Is expected to account for 56% of the total treated osteoporotic patients in the year 2017. Rising disposable income, increasing awareness and preference among consumers to go the traditional way would drive this growth. The Osteoporosis Drug Market in China in China reached a market size of USD 1 ,608. 9 million in the year 2012 with the growing number of osteoporotic patients in the country. The number of osteoporotic patients in China was registered at 73. million in 2012.
Majority of the growth in the osteoporotic drug segment has been driven by the traditional Chinese medicine which has steered the overall growth of this market by growing at a CAGR of 6. 7% during 2007-2017. In the coming years this segment is further expected to propel and register a CAGR of 9. 7% during 2012-2017. Xianling Gubao is a leading traditional Chinese medicine used for treatment of osteoporosis In China, High demand of traditional medicine can be attributed to the ajority of the population in China residing in smaller towns and cities.
Moreover high affordability and convenient availability have also significantly driven the growth of traditional medicine in the country. Additionally people In even urban areas now prefer to go the traditional way. For instance a significant portion of the revenues of Xianling Gubao in China comes from the leading hospitals in the country. These factors would continue to contribute to the growing drug market for osteoporosis in the country.
High consumption and demand of traditional Chinese medicine Xianling Gubao has also been made a part of the reimbursement list in the state health Insurance of China. – According to the research report ‘China Osteoporosis Market Outlook to 2017- Traditional Chinese Medicine to Steer the Growth’ from Ken Research. According to the report, market for the China Osteoporosis Market would be majorly driven by the growing osteoporosis patients In the country while the drug market would be dominated by the high demand for traditional Chinese medicine.
The report provides detailed overview on the osteoporosis market in China and aids eaders to Identify the ongoing trends In the Industry and anticipated growth In future depending upon changing industry dynamics in coming years. The report will help industry consultants, osteoporosis drug companies, diagnostic service providers, diagnosis equipment manufacturers and other stakeholders to align their market centric strategies according to ongoing and expected trends in future.