China has reached a major milestone in global pharmaceutical innovation. According to the latest report from Clarivate, Mainland China Biopharma Innovation 2.0: From rapid growth to quality-driven development, the country became the world’s second-largest source of first launches of new molecular entities (NMEs) in 2024, with an 18 per cent share. The analysis, now in its seventh year, states that China’s biopharmaceutical sector has moved from the Innovation 1.0 period into an Innovation 2.0 phase focused on steady, quality-focused development and wider global recognition. A separate report from L.E.K. Consulting and PharmaDJ, Advancing Innovation and Global Reach: The Next Chapter in China’s Clinical Trial Development, finds that China’s clinical trial volume has reached about 80 per cent of U.S. levels and stands about 10 per cent above the EU in 2024.

Full commentary : What was once the United States’ unquestioned domain is now China’s fastest-rising frontier.