Yu Deming, the director of the China Pharmaceutical Enterprises Association, stated at "The 4th Growing Pharmaceutical Enterprise Development Forum" that China's drug retail market reached CNY66 billion in the first half of 2009, an increase of 15.8% compared with the same period in 2008.
According to Yu, China's top 100 drugstores all showed higher sales growths in the first nine months of 2009 than in the same period in 2008 and the sales growth of the entire pharmaceutical industry this year is expected to reach between 19% and 20%. In addition, the industry's total output in 2009 will be nearly CNY1 trillion and its total profit will be over CNY100 billion.
Yu said due to the rigid demands of the dominate market and the government's enhanced investment in medical system reform, the demands for common medicine increased by over CNY160 billion.
Statistics released by China's Ministry of Industry and Information Technology show that from January to August 2009, China's medical industry made profits of CNY59 billion, a year-on-year increase of 16.2%.