Country Reports

Taiwan has never felt more significant. Long acknowledged for its extraordinary semiconductor prowess and its efficient National Health Insurance system, Taiwan’s life sciences industry has received less attention, but things are changing fast. This is not due to any single development, but the convergence of several long-building forces. Semiconductor experience is being leveraged across the…

Hong Kong — Asia’s premier financial hub and the indispensable gateway between mainland China and global markets — has defied its sceptics and staged one of the most dramatic comebacks in recent memory. After enduring sluggish GDP growth, depressed stock market valuations, and a painful economic transition between 2021 and 2024, the city has roared…

The United States remains the undisputed global engine of scientific discovery and commercialization, accounting for approximately 40 percent of global pharmaceutical revenues. Supported by an annual public research budget exceeding USD 45 billion through the NIH, the US ecosystem is anchored by world-class hubs in Massachusetts, California, and New Jersey. However, this dominance is being…

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InFocus

16 years ago, China accounted for less than eight percent of the world’s clinical trials. Today it hosts more than any other country. This story – of patient populations, regulatory frameworks, and biotech ecosystems that were once peripheral to global drug development becoming central to it – is being repeated across Asia. But scale and…

China now supplies the T-cell engager pipeline reshaping autoimmune disease, but the evidence base hasn’t caught up with the capital. This report tracks eleven direct China-origin transactions worth up to USD 8.6 billion in headline consideration, set against a peer-reviewed human safety and efficacy record of fewer than 90 patients. It explains why deep B-cell…

China’s private biotech financing market showed no signs of cooling in the second quarter of 2026. Excluding public listings, deployment held firm at a broad, venture-driven pace; evidence that the country’s private company pipeline continues to mature well ahead of any eventual listing wave. As this exclusive new Selesta* report shows, China biotech private financing…

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InFigures

Taiwan has never felt more significant. Long acknowledged for its extraordinary semiconductor prowess and its efficient National Health Insurance system, Taiwan’s life sciences industry has received less attention, but things are changing fast. This is not due to any single development, but the convergence of several long-building forces. Semiconductor experience is being leveraged across the…

Hong Kong — Asia’s premier financial hub and the indispensable gateway between mainland China and global markets — has defied its sceptics and staged one of the most dramatic comebacks in recent memory. After enduring sluggish GDP growth, depressed stock market valuations, and a painful economic transition between 2021 and 2024, the city has roared…

The United States remains the undisputed global engine of scientific discovery and commercialization, accounting for approximately 40 percent of global pharmaceutical revenues. Supported by an annual public research budget exceeding USD 45 billion through the NIH, the US ecosystem is anchored by world-class hubs in Massachusetts, California, and New Jersey. However, this dominance is being…

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