China’s demographic challenge becoming its biotech advantage

Resumen detallado

Is biotechnology becoming the next space race? The Biotechnology Innovation Organization (BIO) appears to think so. This month, it urged Washington to adopt a comprehensive…

Is biotechnology becoming the next space race? The Biotechnology Innovation Organization (BIO) appears to think so.

This month, it urged Washington to adopt a comprehensive national biotechnology strategy, warning that China is rapidly gaining ground in an industry now viewed as critical to economic competitiveness and national security.

The United States and China have spent years competing across strategic technologies, from semiconductors and telecommunications to artificial intelligence. Biotechnology is now on that list.

The concern is understandable. Chinese life-sciences companies are no longer competing primarily as manufacturers or contract research providers. They are emerging as sources of intellectual property and novel drug development.

Companies such as BeOne and Akeso illustrate this shift. BeOne’s blood-cancer therapy Brukinsa generated US$3.9 billion in annual sales in 2025, illustrating the growing commercial reach of Chinese-developed therapies.

Meanwhile, Akeso’s cancer medicine ivonescimab has attracted international attention for its clinical performance. These companies reflect a broader shift in which Chinese firms compete on drug discovery rather than cost advantages alone.

According to BIO, Chinese biotechnology assets accounted for 56% of global licensing deal value in 2026, up from just 10% in 2021. Chinese companies generated approximately US$59 billion in licensing deal value, surpassing their US counterparts.

Most analysis explains China’s biotech rise through industrial policy or state support. To be sure, these factors matter. But they overlook another force that may prove equally important: demographics.

China’s aging population is usually portrayed as a drag on economic growth. Its old-age dependency ratio recently exceeded its child dependency ratio for the first time, signaling a structural shift towards an older society.

Inicio del artículo, extracto de Asia Times. Para leer el resto, abra el artículo en el sitio del medio.