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China contract research organisation market: China accounts for between 7% to 10% of global CRO market output

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China Contract Research Organization (CRO) Industry Report, 2012-2013 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-03-12 09:43:01
China´s pharmaceutical CRO market developed much later compared to the industries in Europe and the United States; 40 years later. Currently, there are 500 domestic CRO players in China with the majority of these being classed as SMEs. In 2011, the CRO market in China was valued between RMB22 and RMB28 billion although this only accounted for approximately between 7% and 10% of the total global CRO output.

There has been a race for foreign companies to start investing in China´s CRO market due to the low cost, talent resource available and rich spectrum of diseases. Mergers and acquisition activity has been strong and renowned CRO companies such as Quintiles, Covance, PPD, CRL and ICON have all recently invested in China.

The homegrown companies operating in the CRO market in China account for 14% of China´s total CRO market revenue. The leading domestic companies operating in China CRO market are WuXi AppTec Co Ltd, ShangPharma Corporation and Hangzhou Tigermed Consulting with revenues totalling US$374Mn, US$94.5Mn and US$29.84Mn, respectively.

The key domestic players of China´s CRO market have established joint ventures or alliances with foreign companies. ABO was established in 2005 following the merging of nine research institutes including Academy of Military Medical Sciences, National Institutes for Food and Drug Control and National Centre of Biomedical Analysis, the merging of three national engineering centres and also seven national engineering technology centres all with shared hi-tech resources being valued at RMB1 billion. In 2012, ABO had 38 corporate members.

In January 2013, JOINN Laboratories based in Beijing acquired the United States based R&D and production bases of Bayer which represented a new development for China´s biomedical enterprises.

The report provides detailed analysis on the international CRO market, the domestic macro-environment and policies and laws and regulations of China which is an important factor in the development of the CRO industry. Analysis is also provided on the CRO business and development dynamics in China of six foreign and five domestic industrial players.

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