Japanese ophthalmology company takes positive view of Chinese market
Japanese ophthalmology specialist Santen Pharmaceutical Co Ltd has announced that it will build a second factory in China, and has chosen the Suzhou Industrial Park, in Jiangsu Province, as the site.
The timing and details of the project will be determined at a later date.
Shigeo Taniuchi, president and COO of Santen, said, “We have decided to establish a new product supply plant in order to consolidate the growth of our business in China, which is Santen's growth driver and largest overseas business, over the long term. The company will further strengthen its competitiveness by ensuring overwhelming supply and quality, and continue to contribute to the development of ophthalmology in China”
Santen has increased investment and development efforts in China over the years, and the company's business in the country has grown rapidly.
Due to a rising population of elderly people, as well as exposure to screens and digital devices, eye infections, dry eyes and conjunctivitis are rising in China.
The ophthalmology market grew from 46.7 billion yuan (US$6.67 billion) in 2013 to 86.6 billion yuan in 2017. Annual growth between 2018 and 2022 is forecast at 14 percent, industry insiders said.