Chan Ye Xin Xi Wang·2025-10-14 01:03Overview - The CRO industry in China has developed rapidly in recent years, particularly due to clear national pharmaceutical policies, accelerated medical reforms, and the expansion of the medical insurance market [1][9] - By 2024, the CRO market in China is expected to reach 89.22 billion yuan, with a year-on-year growth of 5.19%, and the clinical CRO market is projected to reach 46.31 billion yuan, growing by 4.68% [1][9] Industry Development - The CRO industry in China began in 1996 with the establishment of the first CRO company by MDS Pharmaceutical Services [5] - The industry has undergone significant changes, including a major reshuffle in 2015 due to quality concerns, leading to the elimination of many low-level CROs [5][10] - Major players like WuXi AppTec and Tigermed have gained competitive advantages through capital strength and project experience [5][10] Market Policies - The Chinese government has issued various policies to support the pharmaceutical manufacturing industry, encouraging new drug research and optimizing approval processes [6][7] Industry Chain - The CRO industry chain includes upstream components like experimental animals and biological reagents, midstream CRO companies, and downstream clients such as pharmaceutical companies and research institutions [8] - The pharmaceutical industry is the primary client for CROs, outsourcing clinical research to reduce costs and improve efficiency [8] Current Market Status - The global CRO market is projected to reach 90.03 billion USD in 2024, with a year-on-year growth of 9.65%, and the clinical CRO market is expected to reach 62.57 billion USD, growing by 8.35% [9] - The demand for high-quality medical resources is increasing, particularly in areas like rare diseases and public health events, driving the growth of the CRO market [9] Competitive Landscape - The CRO market in China is becoming increasingly competitive, with a notable shift towards Asia due to cost advantages and a large patient population [10] - Leading companies such as Tigermed and Kanglongda are recognized for their comprehensive clinical research services and have significant market shares [10][12] Future Trends - The quality management standards for drug development are expected to improve, leading to increased concentration in the industry as smaller CROs face challenges [13][14] - There will be a rise in specialized CROs focusing on specific disease areas, providing differentiated services to pharmaceutical companies [13][14]