China’s great competitive edge over the developed countries in pharmaceutical R&D cost has attracted several large international pharmaceutical companies to build dozens of R&D centers here and fueled the development of CRO industry in China.
- Advertising -
Under the pressure from higher R&D costs, longer R&D cycle and lower R&D success rate in pharmaceutical industry worldwide, over 50 percent of pharmaceutical enterprises have had the development of new drugs assisted by CRO firms in recent years, stimulating the progression of global CRO Industry which had a market size of USD31.7 billion in 2016.
There are more than 1,100 CRO companies around the world, led by Quintiles IMS, Covance, in Ventiv Health, Charles River, Parexel, PPD, ICON and WuXi AppTec. Global top 10 CRO firms hold a combined 45% or so market share for now.
Get this Research Report at www.reportsnreports.com/contacts/d…aspx?name=1211741
- Advertising -
- Advertising -
With the scale of about RMB46.2 billion in 2016, the CRO industry in China will maintain a rapid growth rate over the next five years, hitting an estimated RMB116.5 billion in 2021, driven by pharmaceutical companies’ more spending on R&D, an increase in the number of new drugs approved and favorable policies.
Direct Access at www.reportsnreports.com/purchase.aspx?name=1211741
Leading Chinese CRO companies include WuXi AppTec, Pharmaron, Shanghai Medicilon, Shanghai ChemPartner, Hangzhou Tigermed Consulting, and JOINN Laboratories. WuXi AppTec is one of the most comprehensive service platforms integrating discovery, research and development of small-molecule chemical drugs with the strongest R&D strength and the largest (domestically) and a leading (globally) small-molecule pharmaceutical R&D service business.
It occupied about 2% of the world’s CRO market and 9.5% of the Chinese CRO market in 2016.
The CRO industry in China will present the following three trends:
- Pharmaceutical enterprises represented by AvvVie, Novartis, GSK and Eli Lilly and Company have closed or are about to close or sell their R&D centers in China, and will rely more on CRO enterprises for new drug research activities. This will promote the development of CRO industry and be conducive to local CRO enterprises.
- As the world economy picks up, pharmaceutical enterprises increase their R&D budget gradually, bringing global pharmaceutical R&D spending up to an estimated USD160 billion in 2021, including USD29.2 billion in China. This will drive the development of CRO industry from supply side.
- Bright prospects of CRO industry and favorable policies in China have attracted enterprises represented by Dian Diagnostics, Xinjiang Baihuacun, Quantum Hi-Tech (China) Biological, and Xiamen Academy Of Building Research Group into the field, to some extent, promoting the development of CRO industry in China.
More Inquire at www.reportsnreports.com/contacts/i…aspx?name=1211741
China Contract Research Organization (CRO) Industry Report, 2017-2021 highlights the followings:
- Overview of CRO industry (development course/background, market size, competitive landscape,.);
- Overview of CRO industry in China (development environment/status quo, market size, competitive landscape, development trends,.);
- Ten Chinese and six foreign companies (operation, revenue structure, gross margin, R&D investment,.)
Table of Contents:
1 Overview of Pharmaceutical Outsourcing
2 Evolution of Global CRO Industry
3 Evolution of Chinese CRO Industry
4 Major Chinese Companies
5 Major Foreign Companies
List of Charts.
Category: Market Research Publishers and RetailersCompany about: ReportsnReports.com provides market research reports to industries, individuals and organizations with an objective of helping them in their decision-making process. Our library of 400,000+ industry & country research reports covers 5000+ micro markets.
For more information: