GE bullish on biopharmaceutical market

General Electric Healthcare Co, a leader in the high-end medical devices market, said it is bullish on the long-term growth of the biopharmaceutical market in China, and the market for biological medicine and devices is expected to grow significantly.

Last year, China reported about 4.3 million new cancer cases, and that number accounts for 20 percent of global new cancer cases. The rising cancer rates have posed a major health problem for the country, according to a report by the American Cancer Society.