The custom synthesis market in China grew 10 times last year, from $25 million to $260 million, according to a survey from the United States, and the CRO market in China is now growing to 430 million dollars. And the next few years are still growing rapidly. China has overtaken India to officially become the preferred destination for Asian research and development outsourcing.
Compared with European and American countries, the advantage of the CRO is obvious, the first is low cost. The global average research and development cost of a new drug is $1.2 billion, and many international pharmaceutical giants are slashing research and development spending, disengaging non-core parts of new drug development and outsourcing more and more research and development to developing countries such as India and China. China has become one of the first choice for foreign companies because of the low cost of related talent, human and animal testing. Dr. Huang Changfen, vice president of the Inter-blogging medicine, introduced the animal experiment alone to make the Chinese local custom synthesis enterprise have enough cost advantage.
Clinical trials are another major advantage of China. In China, hepatitis, hepatitis, liver cancer, tumors, cardiovascular diseases and other diseases have a higher incidence, the number of patients is also relatively large. So that the number of patients in the hospital to stay relatively large, and then improve the effectiveness of clinical trials, which is the advantages of domestic clinical trials.
In the past, large international drug companies worried about intellectual property rights and other issues led to domestic medicine to attract investment in the progress has been relatively slow, now, with the domestic custom synthesis CRO industry average quality improvement and development of infrastructure, domestic will attract more CRO orders and projects.
International pharmaceutical companies are now generally bullish on China’s huge domestic market, more and more trials and investment in China. Many medical giants have set up research and development centers in China, such as Novartis, Roche, Lilly and so on. The conditions for large-scale development of custom synthesis CRO have matured.
Visible, in many respects, the Chinese custom synthesis industry investment advantage is obvious, for example the manpower cost is low, the market is broad and so on, certainly the Chinese CRO industry cannot satisfy the present situation, stagnates. In order to develop a broader future, China’s CRO industry needs to adjust its own structure, to play its own advantages, which need to go a long way.
The custom synthesis market in China grew 10 times last year, from $25 million to $260 million, according to a survey from the United States, and the CRO market in China is now growing to 430 million dollars. And the next few years are still growing rapidly. China has...