China’s Biotech Market Is Heating Up

China’s biotech market is on the cusp of its truly boom given the huge market size and supports from the government.

Like in many other fields, the sheer size of China’s population has become one of the major advantages to boost biotech sector. “China is the second largest market in genetic sequencing industry, next only to the U.S. Sometimes, the number of patients being treated by one cancer hospital in China exceeds that of a small country. In addition, it also generates large amounts of data for researchers” said Zhao Ruilin, China head of U.S. genetic sequencing service Illumina, at TechCrunch Beijing this Tuesday.

As the country announced its plan to invest 60 billion RMB (US$8.86 billion) by 2030 to accelerate precision medicine initiative, domestic companies started to lay out in the rising industry. Several major capital injection cases in the sector marked this trend.

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