April 27, 2010 / 3:13 AM / 9 years ago

Germany's Bayer sees sharp growth in China medical mkt

BEIJING, April 27 (Reuters) - Germany drug and chemical maker Bayer AG (BAYGn.DE) said on Tuesday it expects China’s medical market to grow nearly 10-fold over the next decade, as the country is set to overhaul its medical system.

Bayer expected China’s medical market to be worth $80 billion annually by 2013, and $220 billion by 2020, versus about $25 billion last year, said Chris Lee, who heads the company’s China region operations.

He added that Bayer planned to roll out 20 products in China over the next five years, increasing its pace from 2009 when it rolled out three new products into the market.

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