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CRO is the outsourcing service of drug research and development, including two stages of pre-clinical and clinical research
.
As the popularity of domestic innovative drugs continues to rise, more and more pharmaceutical companies have begun to choose to outsource some non-core R&D links in order to improve efficiency, reduce costs and R&D risks
.
In this context, China's CR0 market has also begun to show a good development trend
.
According to statistics, the domestic CRO industry is currently in a stage of rapid development, and the overall compound growth rate has exceeded 30%; the compound growth rate of net profit has reached more than 40%; the net interest rate is greater than 20%, and ROE is maintained at around 18-20%
.
It is worth mentioning that
.
At the same time, the performance of many CRO companies is also growing
.
Taking WuXi AppTec as an example, according to its 2021 quarterly report disclosed on April 29, the company achieved operating income of 4.
95 billion yuan in the first quarter, a year-on-year increase of 55.
31%; net profit attributable to shareholders of listed companies was 1.
5 billion yuan, a year-on-year increase An increase of 394.
92%
.
From the data point of view, WuXi AppTec's operating income in the first quarter increased by 4.
9% from the previous quarter, continuing the company's strong record of growth in the past 12 quarters
.
In addition to WuXi AppTec, Medicilon also increased significantly in the first quarter of this year
.
According to its financial report, Medicilon's operating income in the first quarter was 215 million yuan, an increase of 102.
81% year-on-year, and its net profit was 45 million yuan, an increase of 195.
7% year-on-year
.
From an overall point of view, the industry believes that domestic CRO companies are gradually occupying an advantageous position in the global innovative drug industry chain transfer wave, and ushering in more benefits, relying on the advantages of engineer dividends and integrated platform services
.
In the future, as the penetration rate of domestic innovative drug R&D outsourcing continues to increase; the integrated platform "front-end diversion + back-end extension" business model continues to materialize, etc.
, the domestic CRO market will usher in a big explosion
.
By 2023, China's CRO market is expected to reach 17.
2 billion US dollars
.
It should be noted that with the rapid development of the domestic CRO industry, industry analysts believe that it is also showing two major development trends
.
The first is the acceleration of integration within the CRO industry, and the development is vertically integrated
.
New drug research and development is a systematic project.
Participants in the industry must not only provide high-quality R&D and production services at their respective stages of expertise, but also need to continuously expand the upstream and downstream areas of the industry chain based on customer needs, and pass high standards, the entire industry chain, Forming long-term partnerships with customers and building barriers to competition
.
In this context, in recent years, the upstream and downstream of the CRO industry have begun to accelerate the integration, such as the integration of integrated medical outsourcing services (CDMO) and the integration of medical marketing outsourcing (CSO), which have further promoted the continuous deployment of CRO enterprises towards vertical integration
.
In addition, the strategic cooperation between CRO and pharmaceutical companies is also continuing to deepen
.
With the improvement of CRO's professional service capabilities, corporate cooperation models have also changed
.
From the traditional contract delivery model, to the advanced partial execution model, to the strategic joint research and development model, the degree of binding between the CRO and the enterprise is gradually deepening
.
The industry predicts that the development environment of CRO companies' enhanced service capabilities, new drug R&D costs and risks will also promote more and more CROs and large multinational pharmaceutical companies to establish risk-sharing and benefit-sharing cooperative R&D models in the future
.
In general, the continuous growth of China's CRO industry has become a consensus in the industry, and related companies will usher in more opportunities in the future
.
However, it is worth noting that although China's CRO industry is growing rapidly, its market share is still very fragmented.
The current domestic CRO market is mainly composed of multinational CROs and local CROs
.
In addition, China's CRO industry is also faced with the lack of high-quality compound talents and the low concentration of the domestic CRO industry
.
Therefore, the industry believes that domestic CRO companies still have a long way to go if they want to break through the fierce market competition
.
.
As the popularity of domestic innovative drugs continues to rise, more and more pharmaceutical companies have begun to choose to outsource some non-core R&D links in order to improve efficiency, reduce costs and R&D risks
.
In this context, China's CR0 market has also begun to show a good development trend
.
According to statistics, the domestic CRO industry is currently in a stage of rapid development, and the overall compound growth rate has exceeded 30%; the compound growth rate of net profit has reached more than 40%; the net interest rate is greater than 20%, and ROE is maintained at around 18-20%
.
It is worth mentioning that
.
At the same time, the performance of many CRO companies is also growing
.
Taking WuXi AppTec as an example, according to its 2021 quarterly report disclosed on April 29, the company achieved operating income of 4.
95 billion yuan in the first quarter, a year-on-year increase of 55.
31%; net profit attributable to shareholders of listed companies was 1.
5 billion yuan, a year-on-year increase An increase of 394.
92%
.
From the data point of view, WuXi AppTec's operating income in the first quarter increased by 4.
9% from the previous quarter, continuing the company's strong record of growth in the past 12 quarters
.
In addition to WuXi AppTec, Medicilon also increased significantly in the first quarter of this year
.
According to its financial report, Medicilon's operating income in the first quarter was 215 million yuan, an increase of 102.
81% year-on-year, and its net profit was 45 million yuan, an increase of 195.
7% year-on-year
.
From an overall point of view, the industry believes that domestic CRO companies are gradually occupying an advantageous position in the global innovative drug industry chain transfer wave, and ushering in more benefits, relying on the advantages of engineer dividends and integrated platform services
.
In the future, as the penetration rate of domestic innovative drug R&D outsourcing continues to increase; the integrated platform "front-end diversion + back-end extension" business model continues to materialize, etc.
, the domestic CRO market will usher in a big explosion
.
By 2023, China's CRO market is expected to reach 17.
2 billion US dollars
.
It should be noted that with the rapid development of the domestic CRO industry, industry analysts believe that it is also showing two major development trends
.
The first is the acceleration of integration within the CRO industry, and the development is vertically integrated
.
New drug research and development is a systematic project.
Participants in the industry must not only provide high-quality R&D and production services at their respective stages of expertise, but also need to continuously expand the upstream and downstream areas of the industry chain based on customer needs, and pass high standards, the entire industry chain, Forming long-term partnerships with customers and building barriers to competition
.
In this context, in recent years, the upstream and downstream of the CRO industry have begun to accelerate the integration, such as the integration of integrated medical outsourcing services (CDMO) and the integration of medical marketing outsourcing (CSO), which have further promoted the continuous deployment of CRO enterprises towards vertical integration
.
In addition, the strategic cooperation between CRO and pharmaceutical companies is also continuing to deepen
.
With the improvement of CRO's professional service capabilities, corporate cooperation models have also changed
.
From the traditional contract delivery model, to the advanced partial execution model, to the strategic joint research and development model, the degree of binding between the CRO and the enterprise is gradually deepening
.
The industry predicts that the development environment of CRO companies' enhanced service capabilities, new drug R&D costs and risks will also promote more and more CROs and large multinational pharmaceutical companies to establish risk-sharing and benefit-sharing cooperative R&D models in the future
.
In general, the continuous growth of China's CRO industry has become a consensus in the industry, and related companies will usher in more opportunities in the future
.
However, it is worth noting that although China's CRO industry is growing rapidly, its market share is still very fragmented.
The current domestic CRO market is mainly composed of multinational CROs and local CROs
.
In addition, China's CRO industry is also faced with the lack of high-quality compound talents and the low concentration of the domestic CRO industry
.
Therefore, the industry believes that domestic CRO companies still have a long way to go if they want to break through the fierce market competition
.
