Pressure from the payers in developed markets with publicly funded healthcare plans to curb drug spending growth, patent expiries, the entry of lower-cost alternatives and declining growth rates in developed markets are major challenges the global pharmaceutical market faces. In addition, the pharmaceutical industry's research and development programs have to adjust to the broad availability of low-cost generic options in many chronic therapy areas. Higher growth will occur in therapy areas with significant unmet clinical need, high-cost burden of disease, and innovative science that can bring new treatment options to patients.
IMS Health, an international consulting firm servicing the pharmaceutical industry, reports that the market reached a size of US$837 billion in 2009. Whilst emerging markets are expected to grow at a 14 - 17 percent rate, developed markets will only grow by 3 - 6 percent. The U.S. will remain the single largest market, with 3 - 6 percent growth expected annually in the next five years and reaching US$360 - US$390 billion in 2014.
China is not only assessed to become the world's third-largest market in 2011, it also fuels the gross output of Traditional Chinese Medicine (TCM) which has been growing at a pace faster than the average rate of the entire pharmaceutical industry. In 2008, the size of the TCM market was about US$26 billion and the yields totaled 1.2 million tons. By November 2009, the cumulative sales value of the TCM industry increased by 23 percent and amounted to RMB 222.166 billion, approximately US$32 billion.
Xinhua News Agency reported that in 2006 China exported traditional Chinese medicine to 164 countries and regions around the world, with export earnings reaching an all-time high of US$830 million. The export earnings represented a 14.5 percent increase from the previous year.
The implementation of the new medical reform as well as the launch of the Project of the Developing Traditional Chinese Medicine Industry stressed the backup and promotion of the TCM industry from the Chinese government. TCM is gaining on popularity for the environmentally friendly and holistic and alternative way of therapy it represents.
TCM Going Global
In 2006, more than 3,000 clinics of traditional Chinese medicine have been opened in Britain. Some 2.5 million British people spend a total of 90 million pounds annually to receive treatment of traditional Chinese medicine, including Chinese herbal medicine, massage and acupuncture. In France, there are 2,600 clinics of traditional Chinese medicine with 7,000 to 9,000 acupuncturists.
The United States has more than 20,000 traditional Chinese acupuncturists and 400 companies specializing in the sale of Chinese herbal medicine.
Traditional Chinese Medicine Demystified - History and Philosophy
To find the origins of TCM we have to go back in time. Way back, into ancient history. Into the China of over 2,000 years ago and entering the mythical world of Fu Xi, Shen Nong and Huang Di, three legendary rulers.
Fu Xi created the Book of Changes and developed the trigrams of Yi Jing (I Ching). Trigrams are eight diagrams used in Taoist cosmology to represent the fundamental principles of reality, seen as a range of eight interrelated concepts (Heaven, Lake, Fire, Thunder, Wind, Water, Mountain, and Earth). Each consists of three lines, each line either "broken" or "unbroken," representing yin or yang, respectively.
IMS Health, an international consulting firm servicing the pharmaceutical industry, reports that the market reached a size of US$837 billion in 2009. Whilst emerging markets are expected to grow at a 14 - 17 percent rate, developed markets will only grow by 3 - 6 percent. The U.S. will remain the single largest market, with 3 - 6 percent growth expected annually in the next five years and reaching US$360 - US$390 billion in 2014.
China is not only assessed to become the world's third-largest market in 2011, it also fuels the gross output of Traditional Chinese Medicine (TCM) which has been growing at a pace faster than the average rate of the entire pharmaceutical industry. In 2008, the size of the TCM market was about US$26 billion and the yields totaled 1.2 million tons. By November 2009, the cumulative sales value of the TCM industry increased by 23 percent and amounted to RMB 222.166 billion, approximately US$32 billion.
Xinhua News Agency reported that in 2006 China exported traditional Chinese medicine to 164 countries and regions around the world, with export earnings reaching an all-time high of US$830 million. The export earnings represented a 14.5 percent increase from the previous year.
The implementation of the new medical reform as well as the launch of the Project of the Developing Traditional Chinese Medicine Industry stressed the backup and promotion of the TCM industry from the Chinese government. TCM is gaining on popularity for the environmentally friendly and holistic and alternative way of therapy it represents.
TCM Going Global
In 2006, more than 3,000 clinics of traditional Chinese medicine have been opened in Britain. Some 2.5 million British people spend a total of 90 million pounds annually to receive treatment of traditional Chinese medicine, including Chinese herbal medicine, massage and acupuncture. In France, there are 2,600 clinics of traditional Chinese medicine with 7,000 to 9,000 acupuncturists.
The United States has more than 20,000 traditional Chinese acupuncturists and 400 companies specializing in the sale of Chinese herbal medicine.
Traditional Chinese Medicine Demystified - History and Philosophy
To find the origins of TCM we have to go back in time. Way back, into ancient history. Into the China of over 2,000 years ago and entering the mythical world of Fu Xi, Shen Nong and Huang Di, three legendary rulers.
Fu Xi created the Book of Changes and developed the trigrams of Yi Jing (I Ching). Trigrams are eight diagrams used in Taoist cosmology to represent the fundamental principles of reality, seen as a range of eight interrelated concepts (Heaven, Lake, Fire, Thunder, Wind, Water, Mountain, and Earth). Each consists of three lines, each line either "broken" or "unbroken," representing yin or yang, respectively.