By Cindy Dubin
While the sports world has its eyes on China and the 2022 Winter Olympics, life sciences is keeping a close watch on the burgeoning Chinese pharmaceutical industry. China is currently the world’s second-largest pharma market with a projected value of $300.9 billion by 2025,1 and is the leading global supplier of APIs in terms of volume (40 percent).2 The country is projected to overtake the U.S. as number one in less than 10 years, due in part to entering the World Trade Organization as well as a domestic market transition from traditional generics to more innovative therapies.