With the rapid development of China's pharmaceutical industry, especially the rise of innovative drug research and development, the demand for CRO services is increasing, and the scale of the domestic pharmaceutical CRO market is growing rapidly. According to the "2024-2029 China Biomedical Outsourcing Market Demand Forecast and Development Trend Prospect Report" released by the China Business Industry Research Institute, the market size of China's pharmaceutical R&D outsourcing services (CRO) will reach 101.4 billion yuan in 2023, with an average annual compound growth rate of 19.35% from 2019 to 2023. Analysts at the China Business Industry Research Institute predict that the market size will grow to 123.8 billion yuan in 2024.
Data source: China Commercial Industry Research Institute
Pharmaceutical CRO market structure
China's pharmaceutical R&D outsourcing services (CRO) cover all stages of drug development, including drug discovery outsourcing services, preclinical research outsourcing services, and clinical research outsourcing services. In terms of market segment share, the clinical research outsourcing service market will account for the largest proportion in 2023, reaching 51.43%, and the preclinical outsourcing service and drug discovery outsourcing service will both account for 24.29%.
Data source: China Commercial Industry Research Institute
Industry Competitive Landscape
From the perspective of the CRO business layout of major foreign listed companies, LabCorp, PPD, ICON, IQVIA, etc. mainly focus on clinical CRO, but several of them have actually covered the entire industry chain. Charles Rivers Labs primarily focuses on non-clinical CROs. Domestic companies mainly include WuXi AppTec, Pharmaron, Zhaoyan New Pharmaceutical, Medicilon, Huaxi Haiqi, Innosys, etc.
Source: Compiled by China Business Industry Research Institute
For more information, please refer to the "Research Report on Market Prospects and Investment Opportunities of China's CRO Industry" released by the China Commercial Industry Research Institute, and the China Commercial Industry Research Institute also provides industrial big data, industrial intelligence, industry research reports, industry white papers, industry status certificates, feasibility study reports, industrial planning, industrial chain investment map, industrial investment guidelines, industrial chain investment investigation & promotion meeting, "15th Five-Year Plan" and other consulting services.