Albany, NY -- (SBWIRE) -- 05/27/2014 -- China CRO industry has developed rapidly in recent years, registering a CAGR of 27.2% during 2007-2013, of which the market size reached RMB 36 billion in 2013, occupying 10% of global market share.
As China is full of talents, has advantage of relatively low costs and is rich in disease spectrum, the world’s renowned CRO companies, including Quintiles, Covance, Parexel and Charles River, have entered the Chinese market through sole proprietorship, corporation or acquisition, driving the industry towards standardization to some extent.
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At present, there are about 500 companies involved in CRO market in China, but only a few of them are operating at scale and in good shape. WuXi AppTec, ShangPharma Corp, Asymchem and Hangzhou Tigermed Consulting Co., Ltd. Are the leading local CRO companies in China, together holding around 15% of China CRO market.
WuXi AppTec is the largest local CRO player in China, making up about 10% of China CRO market; Hangzhou Tigermed Consulting Co., Ltd. is the only local CRO company listed in China, whose revenue has increased at a rate of above 30% annually over the last three years; Asymchem Inc. takes medical CMO as primary business, with its revenue arriving at RMB 542.8 million in 2013, and has embarked on IPO.
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In order to share resources and improve overall competitiveness, some Chinese CRO companies are realizing mutual development by creating alliances, such as Alliance of Biotechnology Outsourcing (or ABO, including 38 companies such as Sino Biological Inc. and Pharmaron). In 2013, the revenue of ABO topped RMB 2 billion, up 11% from a year ago, of which RMB 1 billion came from international services.
Biological Machines Market 2013 - 2019
Biological machines are cellular devices designed to perform various functions such as protein expression, sensing, transport, information processing and actuation in a micro-environment. Also known as cellular systems, biological machines are used as tools for biological repair, implants for drug release, synthesis and sensing and also as organ mimics for drug testing. Rapid convergence of engineering and biotechnology is assisting in the development of biological machines. The biological machines market is in its developing phase characterized by under research and development technologies.
Biotech API Manufacturing Services Market
Biotech API manufacturing services market(http://www.researchmoz.us/biotech-api-manufacturing-services-market-global-industry-analysis-size-share-growth-trends-and-forecast-2013-2019-report.html) includes contract manufacturing services for the production of biotechnology-based active pharmaceutical ingredients (API). The biotech APIs include manufacture of active ingredients from animal, microbial, human, or genetically engineered origin by biological techniques. Several dynamics in the biotechnology field are influencing the manufacturing and development strategies of companies in the market. Presently, these dynamics are favoring the growth of biotech API manufacturing services market. The market is very emerging compared to mature chemically synthesized APIs manufacturing services market.
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