"2021 China CRO Industry Map" re-released - international benchmarking and distribution

The Contract Research Organization is an organization or organization that provides specialized outsourcing services to pharmaceutical companies and other pharmaceutical research and development organizations in the research and development process through contracts.
CRO provides pharmaceutical companies with technical services including product development, preclinical research and clinical trials, data management, and applications for new drugs, covering the entire process of new drug development and testing the safety and effectiveness of new drugs.
figure 1: CRO pharmaceutical research and development services content and representative enterprises Source: Medici prospectine 01 Global and domestic CRO market size According to the latest report from US research firm CB Insights, global healthcare/pharmaceutical fund financing reached a new high of US$80.6 billion in 2020, with significant growth in north American, European and Asian financing, with 187 single rounds of financing exceeding US$100 million, breaking records.
funding for medical funds has risen sharply, meaning that pharmaceutical companies will invest more in research and development.
Figure 2: Global Healthcare/Pharmaceutical Fund Financing Source: CB Insights Figure 3: Global Health Investment and Financing Hotspots 2020 Distribution Image: Arterial Orange Global drug research and development spending will grow from $165.1 billion in 2017 to $203.9 billion in 2024, with a compound growth rate of 3.16%.
China's pharmaceutical research and development investment in 2021 will reach 29.2 billion U.S. dollars, 2016-2021 compound growth rate of about 22%, the continued growth of research and development costs for the rapid development of the CRO industry to provide a continuous source of power.
the overall cost of new drugs and falling returns, pushing pharmaceutical companies outsourced more than 50 percent of their research and development.
return on investment in pharmaceutical research and development in 2019 was the lowest since 2010 at just 1.8 percent, while the cost of a new drug on the market rose 67 percent, from $1,188 million in 2010 to $1,981 million in 2019, according to the 2019 Pharmaceutical Innovation Review by Deloitte Health Solutions.
sales of each new drug also fell from $407 million in 2018 to $376 million in 2019, falling below $400 million, less than half the $816 million in 2010.
: Deloitte CRO helps pharmaceutical companies reduce research and development costs, spread research and development risks, and improve research and development efficiency in new drug development.
pharmaceutical companies continue to increase their recognition of the choice of research and development outsourcing services more and more.
the global CRO industry has risen from 43% in 2015 to about 54% in 2020, according to Frost and Sullivan.
the global pharmaceutical market continues to grow in size, research and development investment continues to increase, pharmaceutical companies research and development outsourcing rate increased, in the number of new drugs continue to grow and other factors together to promote the rapid expansion of the CRO industry scale.
the global CRO market will grow from $31.85 billion to $64.58 billion between 2015 and 2021, with a projected compound annual growth rate of 12.8 percent, according to Frost and Sullivan.
China's CRO market will grow from $6.8 billion in 2019 to $22.2 billion in 2024, with a compound annual growth rate of about 26.5%.
domestic growth rate is significantly higher than that of foreign countries, the CRO industry will usher in a golden opportunity for sustained growth in the future as domestic demand for innovative drug research and development accelerates the release and more overseas pharmaceutical orders.
02 The basic situation of domestic and foreign CRO listed companies In terms of CRO business revenue alone, Tiger Pharma's revenue in the first half of 2020 was about 1.4 billion yuan, and In its 2020 half-year report, Pharmaceutical Mingkang disclosed that the company's clinical research and other CRO services achieved revenue of 49,999.77 million yuan, up 5.92% YoY.
In terms of the number of employees, the top-ranked pharmaceutical departments, Kanglong cheng, Tag Pharmaceuticals and Kailei-Ying, the number of employees in 4000 to 20,000, the number of employees in more than 1000 people have Boaten shares, smart medicine, Zhao Yanxin pharmaceutical and Medici.
CRO is a labor-intensive industry, and the number of employees generally corresponds to the size of the company.
from the first three quarters of 2020 research and development costs, drug Mingkangde 475 million yuan ranked first, the other research and development spending of more than 100 million are Kailaiying, Pharmaceutical Biology, Tiger Pharmaceuticals and Kingsley Bio.
figure 5: Domestic CRO listed companies in the first three quarters of 2020 basic situation Note: the red part is the 2020 mid-year report, market value according to the closing price unit on January 22: 100 million yuan Source: listed company earnings; Dominant, with large-scale laboratory chemical service capabilities, Tag Pharmaceuticals in clinical CRO occupies an important position, Kailaiying and Boaten shares focus on the drug development phase of process research and development and production business, Zhao Yanxin drugs focus on evaluation and effectiveness research, Medici and Smart Chemistry focus on preclinical compound research and drug discovery areas, Boji Pharmaceuticals business focus on clinical drug development services, Chengdu pilot more focused on drug screening phase.
figure 6: CRO business distribution of major A-share listed companies Source: Company financial results; Pharmaceutical Circle Collated According to the global CXO data compiled by Everbright Securities, the main CRO's U.S. holding laboratory, IQVIA in 2019 revenue reached more than 70-80 billion yuan, from the global benchmark, domestic pharmaceutical Mingkang, Tag Pharmaceuticals and other CRO companies, revenue still has a lot of room for improvement.
the gross margin of domestic and foreign CRO companies are not much different, domestic companies' net interest rate is relatively high, mainly due to the low labor costs caused by engineer dividends.
in terms of employee numbers and income per capita, domestic companies still have a lot of room for improvement, in terms of global CRO's 2019 revenue size, drug Mingkang ranked 8th.
figure 7: Domestic and foreign CRO-related listed companies in 2019 revenue situation (RMB 100 million) Source: Pharmaceutical circle From the market value, most of the domestic CXO companies have exceeded foreign companies, but revenue and profits are much smaller than international giants, reflecting the domestic securities market investors on the CXO industry and representative enterprises, the future to pay attention to whether the performance can keep up.
8: Domestic and foreign CXO-related company operating data comparison 2019 domestic CRO enterprise distribution from the following figure CRO enterprise distribution, mainly concentrated in Beijing, Jiangsu, Zhejiang and Shanghai and other places.
mainly in coastal areas of the pharmaceutical industry developed, pharmaceutical talent gathering, multinational pharmaceutical enterprises concentrated related.
the distribution of CDMO enterprises in China: 2021 China Pharmaceutical CDMO Industry Map.
according to Frost and Sullivan, domestic CRO companies account for 5.6 percent of revenue of more than 100 million, 7.1 percent of revenue of 50 million to 100 million, 21.7 percent of revenue of 10 million to 50 million, and most of the remaining revenue is below 10 million.
among them, the enterprises with higher revenue are mainly based on innovative drug CRO services, and those with lower revenue are dominated by generic drug CRO services, while also in the process of continuous transformation and upgrading.
9: China's CRO enterprise revenue distribution Data source: Frost and Sullivan; Pharmaceutical circle drawings Unrealed companies have many characteristics, this article lists only a few.
such as Beijing's Bai osaitu, the company can provide a full range of gene-edited animal models for basic and preclinical research, including a series of immuno-checkpoint humanized mice, severe immunodeficiency B-NDG mice, etc.
note that with the merger with Python and Pharmaceuticals, the company's strategy has been transformed into Biotech, with a greater focus on innovative antibody drug development in the future.
Yantai Meiberry Bio 2020 B round financing of more than 500 million yuan, with Yantai, Shanghai, San Diego, the United States three research and development and production centers, can provide customers around the world with single-resistance, dual-resistance, fusion protein, ADC and other innovative biological drugs, bio-similar drugs early development, process development, clinical sample production, commercial production, domestic and foreign IND/BLA declaration and other one-stop, customized services.
Also for Rongchang Pharmaceutical Group's next layout, in addition to Rongchang Bio.
multi-sector layout of Chinese pharmaceutical companies is also a small trend.
Shanghai-based Lingkai Pharmaceuticals is a professional pharmaceutical outsourcing service provider.
can provide CRO and CDMO services from grams, kg class, 100 kg class and tons of pharmaceutical intermediates and API, with Jiangxi pharmaceutical intermediates factory and Shandong GMP factory.
has accumulated more than a thousand high-quality customers around the world, and a number of well-known multinational pharmaceutical companies to form a project cooperation.
has previously reached strategic cooperation with fuxiang Pharmaceuticals, a listed company.
Shanghai-based Lin Pharmaceuticals focused on the field of clinical CRO services in the field of oncology, in 2020 to complete more than 100 million yuan A round of financing.
Is different from the traditional CRO model, the intelligent system developed by Lin medicine is empowered by the clinical research team, which can carry out multi-center collaborative management remotely, dynamically, intelligently and individually, which greatly improves the efficiency and data quality of clinical research.
clinical CRO blooms, the future is more focused on quality output.
Shanghai Luhang's Long Yanning (Shanghai) Pharmaceuticals is a CRO/CDMO service company focused on the starting materials of new drugs, the design, synthesis and research and development and production of pharmaceutical intermediates for pharmaceutical companies.
has a high-quality research and development team of nearly 100 people, long-term service in Japan Kyocala, Niktar, Tokyo Chemical, Tsusong, Sanyou and Cabosens Chemical, Sandia Pharmaceuticals, Pharmaceutical Mingkangde, Merck and other multinational pharmaceutical companies.
there are many such quietly cultivated service-oriented enterprises in the medical circle, worthy of attention.
is (Shanghai) Biotechnology Co. , Ltd. is a pharmaceutical research and development enterprises, the company's core research and development staff mainly from multinational enterprises and overseas people, committed to providing enterprises at home and abroad with compliance and efficient new drugs, improved new drugs and generic drug research and development services, the company and clinical base to establish a CRO service team.
Zhejiang Peptide Bio has an annual output of hundreds of kilograms of peptide raw materials, access to a number of invention patents to meet the scale of pharmaceutical peptide production, has been more than 1000 customers around the world to provide continuous stability of peptide products and CRO and CDMO services.
recently reached a strategic partnership with Huaxi Bio.
Suzhou Jingyun Pharmaceuticals has been submitted to the IPO, through the establishment of the first domestic drug crystal-type research and development platform, is committed to improve the overall strength of China's innovative drug research and development and drug quality, and on this basis through resource integration, improve support, crystalline research as a starting point for in-depth vertical development, the introduction of new drug CMC services, to help pharmaceutical companies around the world accelerate the process of new drug research and development and improve the clinical performance of drugs, early in China and the United States and other regions to submit new drug applications and market.
Huize Pharmaceuticals, based in Changsha, China, was established in 2014 as a contract research organization (CRO) focused on innovative preparation research and development and professional services for early clinical trials.
has now completed more than 500 technical services, including Phase I clinical trials of innovative drugs and generic PK/BE trials.
Figure 10:2021 Domestic CRO part of the enterprise distribution source: drug melting circle CRO (new drugs, generic drugs at different stages of services; preclinical segmentation, clinical stage segmentation and SMO services) 03 Total end of January 26, 2021, pharmaceutical Mingkangde, Boten shares, Medici, Zhao Yanxin pharmaceutical and Kanglonghua issued a 2020 report, have maintained high growth.
from the industry sentiment point of view, the domestic CRO enterprise market share of the global proportion will also increase, and foreign related companies, the market value has advanced to a new height, revenue in the future there is a greater increase.
there are currently less than 20 LISTed companies in the CRO category, there will be more outstanding CRO companies listed in the future.
according to relevant statistics, there are hundreds of CRO enterprises in the country, the figure only lists some representative enterprises, the need for a relatively complete LIST of CRO, please pay attention to the public number of the drug melt circle and reply to the "drug circle CRO map" request.