2024年中国医药外包行业概览：新质生产力赋能高质量发展

Investment Rating - The report does not explicitly provide an investment rating for the pharmaceutical outsourcing industry in China. Core Insights - The core value of the pharmaceutical outsourcing industry lies in alleviating the contradiction between the growing demand for new drugs and the rising costs of research and development. The industry is deeply integrated into the pharmaceutical supply chain, aligning with the accelerating trend of specialization, effectively reducing the costs of drug development and production. With the rapid development of the pharmaceutical market and the continuous optimization of the policy environment, including deepening reforms in the pharmaceutical system and strengthening drug regulatory laws, the Chinese pharmaceutical industry is experiencing a peak in drug development. New quality productive forces, driven by revolutionary technological breakthroughs, innovative allocation of production factors, and deep transformation and upgrading of the industry, are profoundly changing the landscape of the pharmaceutical sector [2][3]. Summary by Sections Overview of the Pharmaceutical Outsourcing Industry - Pharmaceutical outsourcing refers to a specialized outsourcing service model for the pharmaceutical industry, involving contract research organizations (CROs), contract manufacturing organizations (CMOs), and contract sales organizations (CSOs). Pharmaceutical companies delegate certain non-core or auxiliary functions to external specialized service providers to enhance overall efficiency and competitiveness [15][16]. Analysis of Sub-sectors: CRO - CROs provide preclinical and clinical research outsourcing services, significantly enhancing their status in China's pharmaceutical R&D landscape. The introduction of new quality productive forces is favorable for the production of innovative drugs, leading pharmaceutical companies to increasingly outsource drug development to specialized CROs to reduce costs and improve efficiency [3][19]. Analysis of Sub-sectors: CDMO - CDMOs extend the services of CMOs by offering customized production services with a focus on high-tech value-added process development. The MAH (Marketing Authorization Holder) system has stimulated the enthusiasm of developers and those holding market sales resources, providing policy dividends and substantial order demand, accelerating the development of CDMOs in China [4][46]. Analysis of Sub-sectors: CSO - The CSO sector is transitioning from a role that included sales and promotion to one that focuses solely on promotional services. As the Chinese pharmaceutical market continues to advance, the demand for CSO services is steadily increasing, with specialization and scaling being inevitable trends for future development [5][28]. Market Size and Growth - The CRO service market in China reached a scale of 98.23 billion yuan in 2023, with expectations to grow to 221.07 billion yuan by 2028. The clinical CRO segment accounts for 50.7% of this market. The CDMO service market is projected to grow from 89.2 billion yuan in 2023 to 281.8 billion yuan by 2028, driven by policy optimization and technological innovation [36][46]. Competitive Landscape - The competitive landscape of the CRO, CDMO, and CSO sectors shows significant differences in financial characteristics. CROs exhibit superior profitability, while CMO/CDMO requires substantial fixed asset investments, and CSOs demonstrate flexibility in asset turnover and financing [25][27]. Industry Chain Analysis - The pharmaceutical outsourcing services are categorized into R&D outsourcing, production outsourcing, and sales outsourcing, covering the entire lifecycle of pharmaceuticals from early research to post-market sales [20][28]. Key Players - Notable companies in the industry include WuXi AppTec and Pharmaron Inc., which play significant roles in the CRO and CDMO sectors, respectively [10][12].