China's Pharmaceutical and Healthcare Trade Shows Steady Growth and Structural Upgrading in January–November 2025

China's pharmaceutical and healthcare products trade maintained steady growth and structural optimisation during the first eleven months of 2025, supported by resilient exports and rising momentum in emerging markets. According to customs statistics, total imports and exports reached USD 182.624 billion, marking a year-on-year increase of 1.01%. Exports totalled USD 100.895 billion, up 3.59%, while imports stood at USD 81.729 billion, down 2.01%.

Compared with the first three quarters, overall trade growth moderated slightly in the past two months. However, exports remained resilient and the decline in imports narrowed, reflecting a development pattern described as 'a slow start followed by steady progress and quarterly recovery' throughout the year.

Export Structure Continues to Optimise, Led by Medical Devices

From January to November, medical device exports reached USD 45.542 billion, up 3.82%, accounting for 45.1% of total pharmaceutical and healthcare exports. Hospital diagnostic and therapeutic equipment recorded growth of 8.36%, while disposable consumables increased by 4.43%, highlighting strong performance and ongoing structural upgrading.

Exports of hospital diagnostic and therapeutic products rose by 8.37%, with advanced products such as medical robots, intelligent diagnostic equipment, and three-dimensional digital human anatomy systems expanding from the Canton Fair into overseas markets.

Western Pharmaceutical Preparations Emerge as a Key Growth Engine

Exports of Western pharmaceutical preparations totalled USD 8.14 billion, representing a sharp 28% increase. Among them, hormone-based pharmaceuticals surged by 102.98%, while vitamin-based pharmaceuticals grew by 11.76%, positioning Western pharmaceutical preparations as a new and significant driver of export growth.

Traditional Chinese Medicine Exports Face Adjustment Pressure

Exports of traditional Chinese medicine (TCM) amounted to USD 4.601 billion, down 3.12%, mainly due to a 25.24% decline in health supplement exports. In contrast, exports of Chinese medicinal materials and decoction pieces increased by 4.16%, partially offsetting the overall decline.

Imports Show 'Stable Volume, Enhanced Quality'

On the import side, Western pharmaceutical raw materials recorded growth of 13.94%, while biochemical drug imports fell by 15.27%, accelerating the process of import substitution. Imports of medical devices reached USD 31.396 billion, down 3.51%, with the decline in high-end equipment imports continuing to narrow.

Export Market Structure Evolves as Emerging Markets Gain Momentum

China's pharmaceutical and healthcare exports showed differentiated performance across major markets:

• United States: Exports totalled USD 15.568 billion, down 8.40%. However, Western medicines and Chinese proprietary medicines achieved growth, indicating early progress in high-end formulation development.

• European Union: Exports reached USD 22.394 billion, up 11.32%, with Germany growing 4.41% and Poland 11%, emerging as key growth contributors.

• Belt and Road markets: Exports rose to USD 34.434 billion, up 7.26%, driven by Russia (+11.35%) and ASEAN (+1.52%).

• Latin America and Africa: Exports to Latin America increased by 5.78%, with notable growth in Argentina (+19.06%) and Peru (+23.87%).

Despite pressures from global supply chain restructuring and rising trade barriers, China's pharmaceutical and healthcare exports demonstrated strong resilience. Supported by the continued effects of the Regional Comprehensive Economic Partnership (RCEP) and ongoing global supply chain adjustments, China's healthcare product exports are expected to achieve moderate growth of around 4% in 2025, driven primarily by export structure optimisation and expansion into emerging markets.