• Asia biopharma revenues are projected to surpass the USD133 billion mark by 2033
• Asia-Pacific was responsible for more than 65 percent of biotech patent grants in 2024
• Large international players are investing heavily in the region while opportunities for small- and mid-sized firms are opening up

For years, the talk focused on the huge potential biopharma had in Asia, since the region was already a vital cog in the pharmaceutical sector. Some questioned whether countries could leverage their materials, manufacturing capabilities and skills to support future developments. The answer is now clear. Asia is arguably the leader in global drug innovation, and the future of biopharma is being shaped in China, South Korea, Japan, India and Southeast Asia. Asian Insiders Managing Partner Jari Hietala provides an update on the sector and explains why international companies can no longer postpone market entry.

Last year, the Asia-Pacific biopharmaceutical market surpassed USD74 billion in revenue. This figure is expected to surpass the USD133 billion mark by 2033 as healthcare infrastructure improvements, aging populations and a need for personalised treatments drive demand.

Growth is not limited to regional needs alone. Asia has become a priority for many international biopharma players. While every market is unique in its contribution, innovation is taking place across the value chain. Research and development capabilities are progressing rapidly, manufacturing continues to advance and governments are investing heavily in infrastructure.

Improvements come at a time when biopharma innovation in the United States declines. Cuts to various agencies, a lack of urgency and reduced industry support, combined with geopolitical complications, have seen activity and investment pivot to Asia.

Asia-Pacific is second globally in clinical trials, behind only North America with the gap between the two closing. The region was responsible for more than 65 percent of biotech patent grants in 2024. Notable innovations include AI-enabled drug discovery, cell and gene therapies and antibody-drug conjugates.  

Realising the shift, large international players are investing heavily in the region. Opportunities for small- and mid-sized organisations are now emerging. Asia has moved to the forefront of biopharma and looks destined to lead the industry’s future.

Market spotlight

Here is a brief look at what is happening in select markets in Asia.

China

Notable activity:

• Pfizer signed a license partnership with 3SBio worth up to USD6 billion
• AstraZeneca announced plans to build a USD2.5 billion R&D project in Beijing
• Novo Nordisk and Roche Group have committed to major Chinese expansions

The Chinese government has heavily promoted the biopharma sector to foreign investors as an offshoot of the Healthy China 2030 initiative. Free trade zones in Beijing, Shanghai, Guangdong and Hainan, as well as one approved for Jiangsu, encourage overseas companies to increase their presence in the country.

Research and development spending in biopharma is nearing US levels and is almost double that of Europe. Out-licensing deals are also picking up. China has traditionally been a leader in oncology, but a focus on innovation has seen efforts branch out into other areas.

India

Notable activity:

• Government will invest upwards of USD1.1 billion in biologics and biosimilars R&D over the next five years
• Sanofi is investing USD435 million to expand its Hyderabad global capability centre

India is known as the ‘Pharmacy of the World’ in some corners and embracing biopharma was a logical step for the country wanting to retain its position as a global leader. The early returns are promising as the Indian biopharma market generated nearly USD9 billion in revenue last year.

There has also been a government push to improve the sector. For example, the Central Drugs Standard Control Organization was designated as the national regulatory authority and has since streamlined the approval process and introduced clearer guidelines.

Korea

Notable Activity:

• USD1.6 billion pledge from the Korea Drug Development Fund to support new projects and close R&D gaps
• Merck’s largest Asia investment is a USD349 million bioprocessing centre in Korea

South Korea is highly regarded for its contributions to biologics but has made strides in other areas recently. The government designated biopharma as one of the National Strategic Technologies. A number of overseas players are now making significant investments in the country.

Cytiva’s 2025 Global Biopharma Index ranked Korea third globally in biopharma competitiveness, trailing only the United States and Switzerland. It hailed the country for its deep talent pool and supply chain resiliency.  

Singapore

Notable activity:

• AstraZeneca is constructing a USD1.5 billion manufacturing facility for antibody drug conjugates
• Almac Group is enlarging its Singapore facility with a focus on biopharma  

Singapore has invested heavily to position itself as a biopharma hub in the region. It offers several positives for research and development, such as stringent intellectual property protection, which may be lacking elsewhere.

It is also home to a deep talent pool and an established ecosystem. Singapore’s neutrality and favourable ties to both the United States and China, along with market access to Southeast Asia, provide an advantage very few countries can match.  

Notes from other markets

These are not the only Asian markets where biopharma activity is happening. On the contrary, just about every country is making progress. In Japan, the Bioventure Support Program has set aside more than USD350 million to support startups.

Indonesia remains the largest producer of pharmaceuticals in Southeast Asia, but the country is now developing biopharma capabilities. Thailand is an attractive destination for international biopharmaceutical manufacturers because of its improving infrastructure and wide-ranging incentives.

What are the challenges in Asia?

Asia has made significant progress in becoming the global biopharma leader, and prospects are bright, yet obstacles remain. Firms considering market entry must be prepared for these to avoid potential complications.

A number of countries do not have robust intellectual property protections or fail to enforce rules to the fullest. Businesses considering a multi-market entrance or regional expansion must be aware of the situation.

Similarly, a lack of legal or regulatory transparency poses risks in certain Asian markets. Not recognising possible obstacles and how they impact everything from local partnerships to operations can prove costly.  

Finally, the development of the logistics required for specific biopharma products lags behind what’s found in other parts of the world. Governments are prioritising this, but improvements will take time.

Asia is the future of biopharma  

It must be stressed that this is only a small portion of what is happening in Asia’s biopharma industry. The top-level figures and big-name firms draw headlines, but across the value chain, overseas entities of all sizes are finding success.

The key is finding the right fit for market entry or expansion. Asia is extremely diverse. Requirements and demand in one country will not be the same in another. Working with a specialist such as Asian Insiders can ensure you avoid possible difficulties. Our team of in-country experts can identify the size and scope of opportunities as well as what is needed to capture them.  

Ultimately, the time is now for biopharma in Asia. Overseas companies that do not act swiftly risk falling behind competitors and losing out as the sector grows.  

To learn more about biopharma opportunities in Asia, schedule a no-obligation call with Jari Hietala, Managing Partner: jari.hietala (at)asianinsiders.com.