Dublin, Oct. 23, 2017 (GLOBE NEWSWIRE) -- 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. The CRO industry in China will present the following three trends: 1. 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. 2. 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. 3. 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.
Key Topics Covered:
1 Overview of Pharmaceutical Outsourcing 1.1 Definition 1.2 Classification 1.3 CRO 2 Evolution of Global CRO Industry 2.1 Development History 2.2 Development Background 2.3 Market Size 2.4 Competitive Landscape 3 Evolution of Chinese CRO Industry 3.1 Development Environment 3.1.1 Regulatory Environment 3.1.2 Policy Environment 3.1.3 Industrial Environment 3.2 Status Quo 3.3 Market Size 3.4 Competitive Pattern 3.5 Development Trends 3.5.1 Transnational Pharmaceutical Companies Shut Down and Have a Clearance Sale of Their Research Centers in China, which Favors Local Chinese Companies 3.5.2 New Drug Approvals Increase and R&D Expenses Grow, Laying a Foundation for the Development of CRO Industry 3.5.3 The Amounting Pressure from R&D Costs Make Pharmaceutical Enterprises Rely More on CRO Companies for the Research and Development of New Drugs 3.5.4 Favorable Policies and Capital Promote the Development of Local Chinese Companies 3.5.5 Good Prospects Attract the Enterprises' Access into CRO Industry 4 Major Chinese Companies 4.1 Wuxi AppTec 4.2 Hangzhou Tigermed Consulting Co., Ltd. 4.3 Guangzhou Boji Medical Biotechnological Co., Ltd. 4.4 Shanghai Medicilon Inc. 4.5 Porton Fine Chemical Ltd. 4.6 JOINN Laboratories, Inc. 4.7 Pharmaron 4.8 Obio Technology (Shanghai) Corp., Ltd. 4.9 Asymchem Laboratories Inc. 4.10 Shanghai ChemPartner Co., Ltd. 5 Major Foreign Companies 5.1 LabCorp 5.2 QuintilesIMS 5.3 Parexel 5.4 Charles River 5.5 PPD 5.6 inVentiv Health
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