PRLog - Sep. 1, 2014 - PITAMPURA, India -- The pharmaceutical industry in China has showcased a rapid growth in the past years and possesses the ability to become the world’s fifth largest pharmaceutical market in the near future. China has gradually acquired its position amongst the chosen destinations for clinical trials both locally and globally. The CRAMS industry in China has grown at a CAGR of 15.0% during 2007-2013, registering a market size of USD ~ billion in 2013. The industry is presently in the growth phase, with a large number of contract research and manufacturing organizations operating in the country.
China CRAMS Market
China had nearly 500 CROs operating at the end of 2013 rendering clinical trials in a large number of therapeutic areas. Most of the Chinese companies offer services in drug discovery, chemistry and pre clinical areas which include medicinal chemistry, biology, toxicology and organic synthesis. This represents increased focus of the Chinese CRO industry on discovery and chemistry rather than late phase clinical trials. However, with multiple numbers of global CROs entering the industry, Phase II to Phase IV trials are expected to gain momentum during 2014-2018.
Growth in the number of clinical trials in the country can be attributed to the cost advantages. The contract research and manufacturing services costs are substantially lower, only about 20%-50% of the expenses incurred in the Western countries. Additionally rise in the number of clinical trials is also due to rising number of chronic diseases in the country. For instance diseases such as central nervous system disorders, cerebrovascular diseases, chronic obstructive pulmonary diseases and heart diseases account for almost 50% of all the deaths annually in China. An alarming increase in the incidence rates of these has prompted the global pharmaceutical companies to outsource drug discovery and development services to low cost Chinese CMOs.
“The largest number of clinical studies received and updated in China for the year 2013 was for cardiovascular diseases, central nervous system disorders and infectious diseases with 148, 130 and 101 studies respectively.”
China would increasingly be recognized as the hub of clinical trial activities. Many of the multinational CROs such as Quintiles and pharmaceutical companies have started to set up their laboratories or research and development facilities in China in order to gain the cost competitive advantage. Some of the leading pharmaceutical companies that have set up their facilities in China include Pfizer, Glaxo Smith Kline, Merck and Company and others. Collaborations have been carried out in China with special focus on areas such as preclinical research, toxicology and chemistry services. All the above factors would drive the growth of the Chinese CRO industry which is expected to reach USD ~ billion by 2018 growing at a CAGR of 21.1% during 2013-2018.
The report provides detailed overview on the CRAMS market in China and help readers to identify the ongoing trends in the key segments of the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will aid industry consultants, CRAMS organizations, pharmaceutical companies, and other stakeholders to align their market centric strategies according to ongoing and expected trends in future.
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