The “China Contract Research Organization(CRO) Industry Report, 2017-2021” report has been added to Research and Markets’ offering.
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 QuintilesIMS, Covance, inVentiv Health, Charles River, Parexel, PPD, ICON and WuXi AppTec. Global top10 CRO firms hold a combined 45% or so market share for now.
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. 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.
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.
Key Topics Covered:
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
Companies Mentioned
– Asymchem Laboratories Inc.
– Charles River
– Guangzhou Boji Medical Biotechnological Co., Ltd.
– Hangzhou Tigermed Consulting Co., Ltd.
– InVentiv Health
– JOINN Laboratories, Inc.
– LabCorp
– Obio Technology (Shanghai) Corp., Ltd.
– PPD
– Parexel
– Pharmaron
– Porton Fine Chemical Ltd.
– QuintilesIMS
– Shanghai ChemPartner Co., Ltd.
– Shanghai Medicilon Inc.
– Wuxi AppTec
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