Global and China Contract Research Organization (CRO) Industry Report, 2020-2026 - Mergers and Acquisitions will Still Prevail for an Industry Reshuffle

Dublin, Dec. 18, 2020 (GLOBE NEWSWIRE) -- The "China Contract Research Organization (CRO) Industry Report, 2020-2026" report has been added to ResearchAndMarkets.com's offering.

In 2020, the world CRO market is expected to be worth $69.9 billion with a year-on-year spike of 9%.

The contract research organization (CRO) industry has been galloping amid the global pharmaceutical market steadily in headway, the vibrant financing in the medical and health sector, and the proliferating expenses for pharmaceutical R&D.

Competition pricks up among at least 1,100 CRO players worldwide led by LabCorp, IQVIA, Syneos, Parexel, PRA, PPD, and Charles River. In 2019, IQVIA, LabCorp and Syneos were the three leaders sweeping a combined market share of 21.5%.

China's great competitive edge over the developed countries in pharmaceutical R&D cost has allured many world-renowned pharmaceutical corporations and boosted the country's CRO industry. With speedy development over a decade, China has been an important CRO market whose market size in 2020 will soar 10.1% on an annualized basis and reach RMB81.6 billion.

In addition to 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 R&D strength as one of the most comprehensive service platforms integrating discovery, research and development of small-molecule chemical drugs, not only runs the China's largest small-molecule pharmaceutical R&D service business but leads the way in global market. It enjoyed a virtually 12.3% (up 1.8 percentage points over the prior year) of the world's CRO market in 2019.

China's CRO industry will be heading towards:

  • Mergers and acquisitions will still prevail for an industry reshuffle: Seen from the development course of multinational CRO companies, giants expand their business and sharpen edges through M&As, so do the Chinese CRO peers in recent year. In September 2020, Asymchem acquired the CRO company GoalGen for RMB30 million.
  • Chinese CRO companies have landed in the capital market: WuXi AppTec and Pharmaron were listed on the A-share and H-share markets successively. In 2019, Viva Biotech went public on the Hong Kong Stock Exchange. In 2020, HitGen was listed on the A-share market.
  • The industry gears toward vertical integration: Wuxi AppTec, for example, is able to provide customers with integrated new drug R&D and production services, which can help customers save plenty of time and costs as well as improve R&D and production efficiency. Noticeably, the players like Pharmaron, Boji Medical Biotechnological, Porton Pharma Solutions, and Shanghai ChemPartner are expanding to CMO/CDMO.

China Contract Research Organization (CRO) Industry Report, 2020-2026 highlights:

  • Global CRO industry (development history/environment, market size, competitive landscape, etc.)
  • China CRO industry (development environment, status quo, market size, competition pattern, development trends, etc.)
  • 13 Chinese and 8 foreign companies (revenue, business structure, CRO business, etc.)

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
2.2.1 Pharmaceutical Industry Size
2.2.2 Pharmaceutical Companies Development
2.2.3 Financing
2.2.4 Pharmaceutical R&D
2.3 Market Size
2.4 Competitive Landscape

3. CRO Industry in China
3.1 Development Environment
3.1.1 Regulation
3.1.2 Policy Environment
3.1.3 Industry Environment
3.2 Status Quo
3.3 Market Size
3.4 Competitive Landscape
3.5 Development Trend
3.5.1 The Amounting Pressure from R&D Costs Make Pharmaceutical Enterprises Rely More on CRO Companies for the Research and Development of New Drugs
3.5.2 Favorable policies and capital promote the development of local Chinese companies
3.5.3 Good Prospects Attract the Enterprises' Access into CRO Industry
3.5.4 The Industry Heads toward Vertical Integration
3.5.5 M&A May Become the Main Way for CRO Companies to Expand
3.5.6 The Comprehensive Implementation of Consistency Assessment Brings Development Opportunities to the CRO Industry
3.5.7 Industry threshold and concentration degree rises gradually
3.5.8 Specialization and characterization are becoming ever more obvious

4. Major Chinese Companies
4.1 Wuxi AppTec
4.1.1 Profile
4.1.2 Operation
4.1.3 Revenue Structure
4.1.4 Gross Margin
4.1.5 Major Clients
4.1.6 R&D Investment
4.1.7 CRO Business
4.1.8 Development Strategy
4.2 Hangzhou Tigermed
4.3 Guangzhou Boji Pharmaceutical
4.4 Shanghai Meidicilon Inc.
4.5 Porton Fine Chemicals
4.6 Joinn Laboratories
4.7 Pharmaron
4.8 Obio Technology (Shanghai)
4.9 Nanjing Huawe Medicine Technology Group Co., Ltd.
4.10 Shanghai ChemPartner
4.11 HitGen Inc.
4.12 BioDuro
4.13 VIVA Biotech

5 Major Foreign Companies
5.1 LabCorp
5.1.1 Profile
5.1.2 Operation
5.1.3 Revenue Structure
5.1.4 CRO Business
5.1.5 Development in China
5.2 IQVIA
5.3 Parexel
5.4 Charles River
5.5 PPD
5.6 Syneos Health
5.7 PRA
5.8 ICON

For more information about this report visit https://www.researchandmarkets.com/r/ji8eon

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.



CONTACT: ResearchAndMarkets.com
         Laura Wood, Senior Press Manager
         press@researchandmarkets.com
         For E.S.T Office Hours Call 1-917-300-0470
         For U.S./CAN Toll Free Call 1-800-526-8630
         For GMT Office Hours Call +353-1-416-8900

Posted In: BiotechAnalyst RatingsPress ReleasesGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.