Dublin, December 18, 2020 (GLOBE NEWSWIRE) – The report “China Contract Research Organization (CRO) Industry Report, 2020-2026” has been added to ResearchAndMarkets.com from offer.
In 2020, the global CRO market is expected to represent $ 69.9 billion with an annual peak of 9%.
The contract research organization (CRO) industry gallops amid the ever-growing global pharmaceutical market, dynamic funding of the medical and healthcare sector, and growing pharmaceutical R&D spending.
Competition rages among at least 1,100 CRO players around the world, led by LabCorp, IQVIA, Syneos, Parexel, PRA, PPD and Charles River. In 2019, IQVIA, LabCorp and Syneos were the three leaders with a combined market share of 21.5%.
China’s great competitive advantage over developed countries in pharmaceutical R&D costs has won over many world-famous pharmaceutical companies and boosted the country’s CRO industry. With rapid development over a decade, China has been an important CRO market whose market size in 2020 will increase by 10.1% on an annualized basis to reach 81.6 billion RMB.
In addition to the multinational giants represented by IQVIA, LabCorp, Parexel, etc., China also sees local CRO leaders including Wuxi AppTec, Pharmaron, Meidicilon, Shanghai ChemPartner, Tigermed and Joinn Laboratories, where Wuxi AppTec with the strongest force R&D is one of the most comprehensive service platform integrating small molecule chemical drug discovery, research and development, not only operates China’s largest small molecule pharmaceutical R&D service company, but paves the way for the global market. It benefited from nearly 12.3% (up 1.8 percentage points from the previous year) of the global CRO market in 2019.
The Chinese CRO industry will move towards:
- Mergers and Acquisitions will always prevail for an industry reshuffle: As seen from the development course of multinational CROs, the giants are expanding their businesses and refining their advantages through M&A, just like Chinese CRO peers over the course of the last year. In September 2020, Asymchem acquired CRO GoalGen for RMB 30 million.
- Chinese CRO companies have landed on the capital market: WuXi AppTec and Pharmaron were listed successively on the A and H share markets. In 2019, Viva Biotech went public on the Hong Kong Stock Exchange. In 2020, HitGen was listed on the A-share market.
- Industry is moving towards vertical integration: Wuxi AppTec, for example, is able to provide customers with integrated R&D and new drug production services, which can help customers save a lot of time and expense. costs, as well as improving R&D and production efficiency. Actors such as Pharmaron, Boji Medical Biotechnological, Porton Pharma Solutions and Shanghai ChemPartner are developing into CMO / CDMO.
China Contract Research Organization (CRO) Industry Report, 2020-2026:
- Global CRO industry (development history / environment, market size, competitive landscape etc.)
- CRO industry in China (development environment, status quo, market size, competition model, development trends, etc.)
- 13 Chinese and 8 foreign companies (turnover, company structure, CRO activity, etc.)
Main topics covered:
1. Overview of Pharmaceutical Outsourcing
2. Evolution of the global CRO industry
2.1 Development history
2.2 Development context
2.2.1 Size of the pharmaceutical industry
2.2.2 Development of pharmaceutical companies
2.2.4 Pharmaceutical R&D
2.3 Market size
2.4 Competitive landscape
3. CRO industry in China
3.1 Development environment
3.1.2 Political environment
3.1.3 Industrial environment
3.2 Status quo
3.3 Market size
3.4 Competitive landscape
3.5 Development trend
3.5.1 Growing pressure on R&D costs is forcing pharmaceutical companies to rely more on CRO companies for research and development of new drugs
3.5.2 Favorable policies and capital promote the development of local Chinese enterprises
3.5.3 Good Outlook Attracts Business Access to CRO Industry
3.5.4 Industry is moving towards vertical integration
3.5.5 Mergers and Acquisitions May Become the Primary Expansion of CRO Businesses
3.5.6 Full implementation of consistency assessment provides development opportunities for CRO industry
3.5.7 Industry threshold and degree of concentration gradually increase
3.5.8 Specialization and characterization are becoming increasingly evident
4. Main Chinese companies
4.1 Wuxi AppTec
4.1.3 Income structure
4.1.4 Gross margin
4.1.5 Main customers
4.1.6 R&D investment
4.1.7 CRO activity
4.1.8 Development strategy
4.2 Hangzhou Tigermed
4.3 Guangzhou Boji Pharmaceutical Industry
4.4 Shanghai Meidicilon Inc.
4.5 Porton fine chemicals
4.6 Joinn Laboratories
4.8 Obio Technology (Shanghai)
4.9 Nanjing Huawe Medicine Technology Group Co., Ltd.
4.10 Shanghai ChemPartner
4.11 HitGen Inc.
4.13 VIVA Biotech
5 large foreign companies
5.1.3 Income structure
5.1.4 CRO company
5.1.5 Development in China
5.4 Charles River
5.6 Syneos Health
For more information on this report, visit https://www.researchandmarkets.com/r/ji8eon
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