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Introduction: Benefiting from the explosive growth of innovative drugs and policy-driven, pharmaceutical outsourcing services continue to grow rapidly.
The two leading companies, WuXi AppTec and Tigermed, will increase their operating revenues by 28.
46% and 13.
88% respectively in 2020, and their net profit will increase respectively in 2020.
As high as 59.
62% and 107.
9%, the industry boom continues to rise.

This article conducts an in-depth analysis of CXO's service scope, development trend, market scale, field characteristics, regional characteristics, leading companies, etc.

, and presents the CXO industry map in a comprehensive manner.

us" style="margin:10px 0px;padding:0px;max-width:100%;box-sizing:border-box ;overflow-wrap:break-word ;">us" style="margin:0px;padding:0px;max-width:100%;box-sizing:border-box ;overflow-wrap:break-word ;font-size:15px;color:#8E8E8E;line-height:1.

Introduction: Benefiting from the explosive growth of innovative drugs and policy-driven, pharmaceutical outsourcing services continue to grow rapidly.
The two leading companies, WuXi AppTec and Tigermed, will increase their operating revenues by 28.
46% and 13.
88% respectively in 2020, and their net profit will increase respectively in 2020.
As high as 59.
62% and 107.
9%, the industry boom continues to rise.

This article conducts an in-depth analysis of CXO's service scope, development trend, market scale, field characteristics, regional characteristics, leading companies, etc.

, and presents the CXO industry map in a comprehensive manner.

us" style="margin:0px;padding:0px;max-width:100%;box-sizing:border-box ;overflow-wrap:break-word ;font-size:15px;color:#8E8E8E;line-height:1.

Introduction: Benefiting from the explosive growth of innovative drugs and policy-driven, pharmaceutical outsourcing services continue to grow rapidly.
The two leading companies, WuXi AppTec and Tigermed, will increase their operating revenues by 28.
46% and 13.
88% respectively in 2020, and their net profit will increase respectively in 2020.
As high as 59.
62% and 107.
9%, the industry boom continues to rise.

This article conducts an in-depth analysis of CXO's service scope, development trend, market scale, field characteristics, regional characteristics, leading companies, etc.

, and presents the CXO industry map in a comprehensive manner.

us" style="margin:0px;padding:0px;max-width:100%;box-sizing:border-box ;overflow-wrap:break-word ;font-size:15px;color:#8E8E8E;line-height:1.

Introduction: Benefiting from the explosive growth of innovative drugs and policy-driven, pharmaceutical outsourcing services continue to grow rapidly.
The two leading companies, WuXi AppTec and Tigermed, will increase their operating revenues by 28.
46% and 13.
88% respectively in 2020, and their net profit will increase respectively in 2020.
As high as 59.
62% and 107.
9%, the industry boom continues to rise.

This article conducts an in-depth analysis of CXO's service scope, development trend, market scale, field characteristics, regional characteristics, leading companies, etc.

, and presents the CXO industry map in a comprehensive manner.

Introduction: Benefiting from the explosive growth of innovative drugs and policy-driven, pharmaceutical outsourcing services continue to grow rapidly.
The two leading companies, WuXi AppTec and Tigermed, will increase their operating revenues by 28.
46% and 13.
88% respectively in 2020, and their net profit will increase respectively in 2020.
As high as 59.
62% and 107.
9%, the industry boom continues to rise.

Introduction: Benefiting from the explosive growth of innovative drugs and policy-driven, pharmaceutical outsourcing services continue to grow rapidly.
The two leading companies, WuXi AppTec and Tigermed, will increase their operating revenues by 28.
46% and 13.
88% respectively in 2020, and their net profit will increase respectively in 2020.
As high as 59.
62% and 107.
9%, the industry boom continues to rise.

This article conducts an in-depth analysis of CXO's service scope, development trend, market scale, field characteristics, regional characteristics, leading companies, etc.

, and presents the CXO industry map in a comprehensive manner.

This article conducts an in-depth analysis of CXO's service scope, development trend, market scale, field characteristics, regional characteristics, leading companies, etc.
, and presents the CXO industry map in a comprehensive manner.

544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
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5em;box-sizing:border-box ;overflow-wrap:break-word ;'>Medical outsourcing services (CXO) are divided into CRO, CMO/CDMO and CSO according to the industrial chain links, covering the whole life cycle of medicine from preliminary research to sales and circulation.
Medical outsourcing services (CXO) are divided into CRO, CMO/CDMO and CSO according to the industrial chain links, covering the whole life cycle of medicine from preliminary research to sales and circulation.
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5em;box-sizing:border-box ;overflow-wrap:break-word ;'>

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544px;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;text-align:center;box-sizing:border-box ;overflow-wrap:break-word ;'>Figure 1 Pharmaceutical outsourcing services run through the entire pharmaceutical life cycleFigure 1 Pharmaceutical outsourcing services run through the entire pharmaceutical life cycle544px;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;text-align:right;box-sizing:border-box ;overflow-wrap:break-word ;'>Source: According to public informationSource: According to public information544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>1.
CRO: Become an important part of drug development1.
CRO: Become an important part of drug research and development 1.
CRO: Become an important part of drug research and development544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>CRO provides pre-research, pre-clinical and clinical research outsourcing services for pharmaceutical companies, including drug discovery, pharmacology and toxicology, safety evaluation, clinical trials, etc.
According to the stage of the company's main business, it is divided into pre-clinical CRO and clinical CRO.
Among them, pre-clinical CRO companies are divided into two types of companies: pre-clinical research (drug discovery) and pre-clinical research according to the difference in business focus.
CRO provides pre-research, pre-clinical and clinical research outsourcing services for pharmaceutical companies, including drug discovery, pharmacology and toxicology, safety evaluation, clinical trials, etc.
According to the stage of the company's main business, it is divided into pre-clinical CRO and clinical CRO.
Among them, pre-clinical CRO companies are divided into two types of companies: pre-clinical research (drug discovery) and pre-clinical research according to the difference in business focus.
544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>Drug discovery is at the forefront of the CXO industry chain.
It can be a traffic entry for other links in the industry chain and a barometer of the R&D activity of pharmaceutical companies.
Its core competitiveness is mainly reflected in the size of the compound library and the ability to target the corresponding target.
The ability to design corresponding lead compounds.
Drug discovery is at the forefront of the CXO industry chain.
It can be a traffic entry for other links in the industry chain and a barometer of the R&D activity of pharmaceutical companies.
Its core competitiveness is mainly reflected in the size of the compound library and the ability to target the corresponding target.
The ability to design corresponding lead compounds.
Drug discovery is at the forefront of the CXO industry chain.
It can be a traffic entry for other links in the industry chain and a barometer of the R&D activity of pharmaceutical companies.
Its core competitiveness is mainly reflected in the size of the compound library and the ability to target the corresponding target.
The ability to design corresponding lead compounds.
544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>At present, the key companies that provide drug discovery services in China include WuXi AppTec, WuXi Biologics, Wise Pharmaceuticals, Viva Biotech, Chengdu Pioneer, etc.
Among them, WuXi AppTec has the most extensive service content, covering traditional FBDD and SBDD to HTS and DEL.
Library and other services, Wise Medicine, Viva Biotech, etc.
cover traditional new drug R&D related services.
WuXi Biologics focuses on the development of macromolecular drugs, while Yaoshi Technology (small molecule drug R&D) and Chengdu Pioneer (drug discovery based on DEL technology) are more focused on providing Some special services.
At present, the key companies that provide drug discovery services in China include WuXi AppTec, WuXi Biologics, Wise Pharmaceuticals, Viva Biotech, Chengdu Pioneer, etc.
Among them, WuXi AppTec has the most extensive service content, covering traditional FBDD and SBDD to HTS and DEL.
Library and other services, Wise Medicine, Viva Biotech, etc.
cover traditional new drug R&D related services.
WuXi Biologics focuses on the development of macromolecular drugs, while Yaoshi Technology (small molecule drug R&D) and Chengdu Pioneer (drug discovery based on DEL technology) are more focused on providing Some special services.
544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>Pre-clinical research is based on the needs of the company, mainly providing services such as pharmacological research, pharmacodynamic research, and pharmacokinetic research), toxicology (study on long-term toxicity, reproductive toxicity, carcinogenicity, etc.
) of drugs , mainly animal experiments and safety For various laboratory projects of sexual evaluation, a drug evaluation laboratory with qualifications for non-clinical drug research quality management (GLP) is required.
Its core competence lies in biochemical engineers with certain qualities and laboratories with qualification certification.
According to the needs of enterprises, pre-clinical research mainly provides services such as pharmacological research, pharmacodynamic research, and pharmacokinetic research), toxicology (study on long-term toxicity, reproductive toxicity, carcinogenicity, etc.
) of drugs and other services .
Mainly provide services such as pharmacological research, pharmacodynamic research, and pharmacokinetic research), toxicology (study on the long-term toxicity, reproductive toxicity, carcinogenicity, etc.
of drugs) and other services , mainly animal experiments and various laboratories for safety evaluation The project requires a pharmaceutical evaluation laboratory with qualifications for non-clinical drug research quality management (GLP), and its core capabilities are biochemical engineers with certain qualities and laboratories with qualification certification.
544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>At present, the key domestic companies that provide preclinical research services include WuXi AppTec, Zhaoyan New Drug, Medicilon, Fangda Pharmaceuticals, etc.
Among them, WuXi AppTec has the most extensive services, covering services from pharmaceutical research, pharmacology and toxicology.
Medicilon services cover the entire process of pre-clinical new drug research.
Zhaoyan New Drug provides one-stop drug evaluation services including drug screening, pharmacodynamic research, pharmacokinetic research, safety evaluation, clinical trials, and pharmacovigilance.
At present, the key domestic companies that provide preclinical research services include WuXi AppTec, Zhaoyan New Drug, Medicilon, Fangda Pharmaceuticals, etc.
Among them, WuXi AppTec has the most extensive services, covering services from pharmaceutical research, pharmacology and toxicology.
Medicilon services cover the entire process of pre-clinical new drug research.
Zhaoyan New Drug provides one-stop drug evaluation services including drug screening, pharmacodynamic research, pharmacokinetic research, safety evaluation, clinical trials, and pharmacovigilance.
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5em;box-sizing:border-box ;overflow-wrap:break-word ;'>Clinical CRO provides pharmaceutical companies with phase I to IV clinical trial technical services, clinical trial data management and statistical analysis, registration and application, and post-marketing drug safety monitoring services.
It is currently the link with the highest outsourcing rate and the largest market scale.
The upstream of the clinical CRO connects the professionals required for clinical research services and medical institutions with drug clinical trial qualifications, the intermediate connects with drug regulatory agencies, and the downstream connects with pharmaceutical companies and other new drug research institutions.
They are in a key position in the pharmaceutical R&D industry chain.
Clinical CRO provides pharmaceutical companies with phase I to IV clinical trial technical services, clinical trial data management and statistical analysis, registration and application, and post-marketing drug safety monitoring services.
It is currently the link with the highest outsourcing rate and the largest market scale.
The upstream of the clinical CRO connects the professionals required for clinical research services and medical institutions with drug clinical trial qualifications, the intermediate connects with drug regulatory agencies, and the downstream connects with pharmaceutical companies and other new drug research institutions.
They are in a key position in the pharmaceutical R&D industry chain.
544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>From a market perspective, the core competitiveness lies in the ability to have globalization.
From a technical point of view, the core competitiveness lies in the one-stop service capability of clinical trials (including statistical analysis of data, PI and research center resources, SOP processes, etc.
).
From a market perspective, the core competitiveness lies in the ability to have globalization.
From a technical point of view, the core competitiveness lies in the one-stop service capability of clinical trials (including statistical analysis of data, PI and research center resources, SOP processes, etc.
).
From a market perspective, the core competitiveness lies in the ability to have globalization.
From a technical point of view, the core competitiveness lies in the one-stop service capability of clinical trials (including statistical analysis of data, PI and research center resources, SOP processes, etc.
).
544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
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5em;box-sizing:border-box ;overflow-wrap:break-word ;'>At present, the key domestic companies that provide clinical research services include Tigermed, Boji Pharma, Kunling Medicine (formerly Fangen Medicine), etc.
Among them, Tigermed has the widest range of services, including international multi-center clinical, domestic & international registration affairs, SMO, consistency evaluation, medical devices, etc.
At present, the key domestic companies that provide clinical research services include Tigermed, Boji Pharma, Kunling Medicine (formerly Fangen Medicine), etc.
Among them, Tigermed has the widest range of services, including international multi-center clinical, domestic & international registration affairs, SMO, consistency evaluation, medical devices, etc.
544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>2.
CMO/CDMO: Transition from purely commissioned production to customized production2.
CMO/CDMO: change from purely commissioned production to customized production 2.
CMO/CDMO: change from purely commissioned production to customized production544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>CMO/CDMO provides production services for pharmaceutical companies, including customized production and manufacturing of clinical drugs, intermediate manufacturing, API production, preparation production (such as powders, injections), and packaging.
Among them, CMO refers to simply providing commissioned production services for pharmaceutical companies, while CDMO provides customized production services from kilograms to ton levels for pharmaceutical companies, focusing on high-tech value-added process development.
CMO/CDMO provides production services for pharmaceutical companies, including customized production and manufacturing of clinical drugs, intermediate manufacturing, API production, preparation production (such as powders, injections), and packaging.
Among them, CMO refers to simply providing commissioned production services for pharmaceutical companies, while CDMO provides customized production services from kilograms to ton levels for pharmaceutical companies, focusing on high-tech value-added process development.
CMO refers to simply providing commissioned production services for pharmaceutical companies, while CDMO provides customized production services from kilograms to ton levels for pharmaceutical companies, focusing on high-tech value-added process development.
544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>5px;box-sizing:border-box ;overflow-wrap:break-word ;">According to different production processes, outsourcing services are divided into chemical drugs CMO / CDMO and biological drugs CMO / CDMO, raw material mainly provide drug CMO cell line development, cell culture, purification of biological, bio-security monitoring services.
CMO/CDMO is an asset-heavy industry with high industry barriers.
The core competitiveness of CMO/CDMO lies in process research and development capabilities and continuous high-intensity capital expenditures.
At present, the key domestic companies that provide production outsourcing services include WuXi AppTec (Hequan Pharmaceutical), Kanglong Chemical, Kailaiying, and Proton, etc.
5px;box-sizing:border-box ;overflow-wrap:break-word ;">According to different production processes, outsourcing services are divided into chemical drugs CMO / CDMO and biological drugs CMO / CDMO, raw material mainly provide drug CMO cell line development, cell culture, purification of biological, bio-security monitoring services.
5px;box-sizing:border-box ;overflow-wrap:break-word ;">According to different production processes, production outsourcing services are divided into chemical medicine CMO/CDMO and biological medicine CMO/CDMO.
CMO/CDMO is a heavy asset industry and has high industry barriers.
The core competitiveness of CMO/CDMO lies in process research and development capabilities and Continued high-intensity capital expenditures.
At present, the key domestic companies that provide production outsourcing services include WuXi AppTec (Hequan Pharmaceutical), Kanglong Chemical, Kailaiying, and Proton, etc.
544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>3.
CSO: still at the stage of industry introduction3.
CSO: still in the industry introduction stage 3.
CSO: still in the industry introduction stage544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>CSO provides comprehensive professional services for pharmaceutical companies in sales and marketing, including market research, product planning, market promotion, product promotion, channel design and terminal promotion.
CSO provides comprehensive professional services for pharmaceutical companies in sales and marketing, including market research, product planning, market promotion, product promotion, channel design and terminal promotion.
544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>Specialization and scale are the future development direction of CSO companies.
The industry threshold is relatively low, and sales channels are their core competitiveness.
At present, the key domestic companies that provide sales outsourcing include Kangzhe Pharmaceutical, Yiteng Pharmaceutical, and Tai Ling Pharmaceutical.
Specialization and scale are the future development direction of CSO companies.
The industry threshold is relatively low, and sales channels are their core competitiveness.
At present, the key domestic companies that provide sales outsourcing include Kangzhe Pharmaceutical, Yiteng Pharmaceutical, and Tai Ling Pharmaceutical.
Specialization and scale are the future development direction of CSO companies.
The industry threshold is relatively low, and sales channels are their core competitiveness.
544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
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Domestic and foreign demand resonates at the same frequency, the industry ushered in a golden decade

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Domestic and foreign demand resonates at the same frequency, the industry ushered in a golden decade

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Domestic and foreign demand resonates at the same frequency, the industry ushered in a golden decade

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Domestic and foreign demand resonates at the same frequency, the industry ushered in a golden decade

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Domestic and foreign demand resonates at the same frequency, the industry ushered in a golden decade

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Domestic and foreign demand resonates at the same frequency, the industry ushered in a golden decade

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Domestic and foreign demand resonates at the same frequency, the industry ushered in a golden decade

Domestic and foreign demand resonates at the same frequency, the industry ushered in a golden decade

Domestic and foreign demand resonates at the same frequency, the industry ushered in a golden decade734px;height:2px;background:#3B5CF4;overflow:hidden;">
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734px;height:2px;background:#3B5CF4;overflow:hidden;">016px;height:2px;background:#FFC756;overflow:hidden;">544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>The scale of the global CXO industry continues to grow rapidly.
According to forecasts, the market size will be close to the 150 billion U.
S.
dollar mark by 2023, of which the CRO market is expected to reach 95.
1 billion U.
S.
dollars, and CMO/CDMO will reach 51.
9 billion U.
S.
dollars.
The scale of the global CXO industry continues to grow rapidly.
According to forecasts, the market size will be close to the 150 billion U.
S.
dollar mark by 2023, of which the CRO market is expected to reach 95.
1 billion U.
S.
dollars, and CMO/CDMO will reach 51.
9 billion U.
S.
dollars.
By 2023, the market size will be close to 150 billion U.
S.
dollars, of which the CRO market is expected to reach 95.
1 billion U.
S.
dollars, and CMO/CDMO will reach 51.
9 billion U.
S.
dollars.
544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>

544px;white-space:normal;background-color:#FFFFFF;text-align:center;box-sizing:border-box ;'>

544px;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;text-align:center;box-sizing:border-box ;overflow-wrap:break-word ;'>Figure 2 Global CXO market scale
Figure 2 Global CXO market scale544px;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;text-align:right;box-sizing:border-box ;overflow-wrap:break-word ;'>Data source: Frost & Sullivan, Flint creation and collationData source: Frost & Sullivan, Flint creation and collation

544px;text-align:justify;white-space:normal;background-color:#FFFFFF;box-sizing:border-box ;'>

544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>Judging from the performance of the top listed companies of my country's CXO companies, the growth rate of my country's CXO top companies continues to increase, and their performance has increased significantly.
In 2020, WuXi AppTec and Tigermed Pharmaceuticals are both in the ranks of my country's 100 billion market capitalized pharmaceutical stocks.
Behind the rapid growth of the industry leader is the rapid growth of the entire CXO industry.
my country's CRO industry has maintained a rapid growth momentum since 2014.
The market size has rapidly increased from 2.
1 billion US dollars to 5.
9 billion US dollars, and the CAGR reached 29.
5%.
Judging from the performance of the top listed companies of my country's CXO companies, the growth rate of my country's CXO top companies continues to increase, and their performance has increased significantly.
In 2020, WuXi AppTec and Tigermed Pharmaceuticals are both in the ranks of my country's 100 billion market capitalized pharmaceutical stocks.
Judging from the performance of the top listed companies of my country's CXO companies, the growth rate of my country's CXO top companies continues to increase, and their performance has increased significantly.
In 2020, WuXi AppTec and Tigermed Pharmaceuticals are both in the ranks of my country's 100 billion market capitalized pharmaceutical stocks.
Behind the rapid growth of industry leaders is the rapid growth of the entire CXO industry.
my country's CRO industry has maintained a rapid growth momentum since 2014.
The market size has rapidly increased from 2.
1 billion US dollars to 5.
9 billion US dollars, and the CAGR reached 29.
5%.

544px;white-space:normal;background-color:#FFFFFF;text-align:center;box-sizing:border-box ;'>

544px;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;text-align:center;box-sizing:border-box ;overflow-wrap:break-word ;'>Figure 3 Operating income of some CXO listed companies in my country (100 million yuan)Figure 3 Operating income of some CXO listed companies in my country (100 million yuan)544px;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;text-align:right;box-sizing:border-box ;overflow-wrap:break-word ;'>Data source: Flint creation and collationData source: Flint creation and collation544px;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;text-align:right;box-sizing:border-box ;overflow-wrap:break-word ;'>Note: Gloria's 2020 data is Q1-Q3 revenueNote: Gloria's 2020 data is Q1-Q3 revenue

544px;text-align:justify;white-space:normal;background-color:#FFFFFF;box-sizing:border-box ;'>

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5em;box-sizing:border-box ;overflow-wrap:break-word ;'>The CXO industry in my country started late, with only 20 years of development history.
Compared with the development history of CXO in the United States, in the early 1990s, the competition of generic drugs in the United States intensified and the overall control of medical expenditures in the United States gave birth to a 10-year long economic cycle of CXO in the United States.
.
Since 2011, large American CXO companies have accelerated mergers and acquisitions and global expansion, and international giants such as AQVIA, Labcorp, Lonza, etc.
have emerged.
The CXO industry in my country started late, with only 20 years of development history.
Compared with the development history of CXO in the United States, in the early 1990s, the competition of generic drugs in the United States intensified and the overall control of medical expenditures in the United States gave birth to a 10-year long economic cycle of CXO in the United States.
.
Since 2011, large American CXO companies have accelerated mergers and acquisitions and global expansion, and international giants such as AQVIA, Labcorp, Lonza, etc.
have emerged.

544px;white-space:normal;background-color:#FFFFFF;text-align:center;box-sizing:border-box ;'>

544px;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;text-align:center;box-sizing:border-box ;overflow-wrap:break-word ;'>Figure 4 Comparison of CXO development stages at home and abroadFigure 4 Comparison of CXO development stages at home and abroad544px;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;text-align:right;box-sizing:border-box ;overflow-wrap:break-word ;'>Source: According to public informationSource: According to public information

544px;text-align:justify;white-space:normal;background-color:#FFFFFF;box-sizing:border-box ;'>

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5em;box-sizing:border-box ;overflow-wrap:break-word ;'>At present, the overall scale of my country's CXO market is still relatively small, but the growth rate is high.
In 2019, my country's CRO scale was only 6.
8 billion U.
S.
dollars, accounting for about 11% of the world.
In 2020, the two top CRO companies in the world both exceeded 10 billion U.
S.
dollars in revenue.
WuXi (WuXi AppTec and WuXi Biologics) Consolidated revenue is approximately US$3.
26 billion, a growth rate of more than 30%.
At present, the overall scale of my country's CXO market is still relatively small, but the growth rate is high.
In 2019, my country's CRO scale was only 6.
8 billion U.
S.
dollars, accounting for about 11% of the world.
In 2020, the two top CRO companies in the world both exceeded 10 billion U.
S.
dollars in revenue.
WuXi (WuXi AppTec and WuXi Biologics) Consolidated revenue is approximately US$3.
26 billion, a growth rate of more than 30%.
544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>From the perspective of industry driving factors, the engineer dividend and cost advantages of domestic CXO companies are superimposed on the policy guidance of my country’s pharmaceutical industry to shift to the direction of innovation, and domestic investment in innovative drug research and development continues to increase.
Domestic and foreign demand co-frequency resonance will drive the rapid development of my country’s CXO industry.
Promote the industry to enter the golden stage.
From the perspective of industry driving factors, the engineer dividend and cost advantages of domestic CXO companies are superimposed on the policy guidance of my country’s pharmaceutical industry to shift to the direction of innovation, and domestic investment in innovative drug research and development continues to increase.
Domestic and foreign demand co-frequency resonance will drive the rapid development of my country’s CXO industry.
Promote the industry to enter the golden stage.
From the perspective of industry driving factors, the engineer dividend and cost advantages of domestic CXO companies are superimposed on the policy guidance of my country’s pharmaceutical industry to shift to the direction of innovation, and domestic investment in innovative drug research and development continues to increase.
Domestic and foreign demand co-frequency resonance will drive the rapid development of my country’s CXO industry.
Promote the industry to enter the golden stage.
544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>1.
Talent, cost advantage and quality system guarantee, the foreign market share continues to expand1.
Talent, cost advantage and quality system guarantee, foreign market share continues to expand 1.
Talent, cost advantage and quality system guarantee, foreign market share continues to expand544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>CRO is a talent-intensive industry, and CMO/CDMO is a talent & capital-intensive industry.
As a country with the largest number of highly educated pharmaceutical-related professionals in the world, domestic CXO companies have the unique advantages of low-cost expertise and experienced talent teams.
.
CRO is a talent-intensive industry, and CMO/CDMO is a talent & capital-intensive industry.
As a country with the largest number of highly educated pharmaceutical-related professionals in the world, domestic CXO companies have the unique advantages of low-cost expertise and experienced talent teams.
.
544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>From the perspective of per capita operating costs, WuXi AppTec, Kanglong Chemical and Tigermed are respectively 31/30 and 350,000/person, far below the 1+ million/person of IQVIA and PPD.
In addition, my country’s CXO companies have strict quality control systems comparable to those of European and American companies.
For example, Zhaoyan New Pharmaceutical has established a quality management system that meets international standards (CNAS/ILAC-MRA certification), and has China’s NMPA, US FDA, and OECD.
, GLP qualification of South Korea MFDS and international AAALAC (Animal Welfare) certification qualification.
From the perspective of per capita operating costs, WuXi AppTec, Kanglong Chemical and Tigermed are respectively 31/30 and 350,000/person, far below the 1+ million/person of IQVIA and PPD.
In addition, my country’s CXO companies have strict quality control systems comparable to those of European and American companies.
For example, Zhaoyan New Pharmaceutical has established a quality management system that meets international standards (CNAS/ILAC-MRA certification), and has China’s NMPA, US FDA, and OECD.
, GLP qualification of South Korea MFDS and international AAALAC (Animal Welfare) certification qualification.
544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>From the perspective of the market composition of domestic leading CXO companies in 2019, WuXi AppTec, Kanglong Chemical and Tigermed Pharmaceuticals accounted for 77%, 87%, and 43% of their total revenue, respectively.
The recognition of international pharmaceutical companies will bring a broad overseas market space for the development of domestic CXO companies.
From the perspective of the market composition of domestic leading CXO companies in 2019, WuXi AppTec, Kanglong Chemical and Tigermed Pharmaceuticals accounted for 77%, 87%, and 43% of their total revenue, respectively.
The recognition of international pharmaceutical companies will bring a broad overseas market space for the development of domestic CXO companies.
544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>2.
Driven by the wave of pharmaceutical R&D innovation and industrial transformation, the penetration rate of pharmaceutical outsourcing has increased2.
Driven by the wave of pharmaceutical R&D innovation and industrial transformation, the penetration rate of pharmaceutical outsourcing has increased 2.
Driven by the wave of pharmaceutical R&D innovation and industrial transformation, the penetration rate of pharmaceutical outsourcing has increased544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>The CXO industry is highly related to the growth and R&D investment of the pharmaceutical industry.
In recent years, the R&D investment of global pharmaceutical companies has maintained a relatively high growth rate.
Since 2010, my country's pharmaceutical innovation transformation has been accelerating under the guidance of policies such as MAH and centralized procurement, which has opened a wave of pharmaceutical R&D innovation.
The CXO industry is highly related to the growth and R&D investment of the pharmaceutical industry.
In recent years, the R&D investment of global pharmaceutical companies has maintained a relatively high growth rate.
Since 2010, my country's pharmaceutical innovation transformation has been accelerating under the guidance of policies such as MAH and centralized procurement, which has opened a wave of pharmaceutical R&D innovation.

544px;white-space:normal;background-color:#FFFFFF;text-align:center;box-sizing:border-box ;'>

544px;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;text-align:center;box-sizing:border-box ;overflow-wrap:break-word ;'>Figure 5 The number of clinical trial approval documents in my country from 2016 to 2020 (a)
Figure 5 The number of clinical trial approval documents in my country from 2016 to 2020 (a)544px;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;text-align:right;box-sizing:border-box ;overflow-wrap:break-word ;'>Data source: Flint CreationData source: Flint Creation

544px;text-align:justify;white-space:normal;background-color:#FFFFFF;box-sizing:border-box ;'>

544px;text-align:justify;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;box-sizing:border-box ;overflow-wrap:break-word ;'>The transformation of traditional generic drugs to innovative drugs is accelerating, and corporate R&D investment is increasing.
Coupled with the rise of asset-light, R&D-focused emerging Biotech companies such as BeiGene, Zai Lab, Cinda Biotech, etc.
, it has also helped the outsourcing industry.
There is more room for demand.
The standardized development of the pharmaceutical industry also puts forward higher requirements for R&D and production specialization.
As a professional service platform that can reduce costs and increase efficiency for pharmaceutical companies, pharmaceutical outsourcing has rapidly increased the penetration rate of the domestic industry.
The transformation of traditional generic drugs to innovative drugs is accelerating, and corporate R&D investment is increasing.
Coupled with the rise of asset-light, R&D-focused emerging Biotech companies such as BeiGene, Zai Lab, Cinda Biotech, etc.
, it has also helped the outsourcing industry.
There is more room for demand.
The standardized development of the pharmaceutical industry also puts forward higher requirements for R&D and production specialization.
As a professional service platform that can reduce costs and increase efficiency for pharmaceutical companies, pharmaceutical outsourcing has rapidly increased the penetration rate of the domestic industry.

544px;white-space:normal;background-color:#FFFFFF;text-align:center;box-sizing:border-box ;'>

544px;white-space:normal;background-color:#FFFFFF;line-height:1.
5em;text-align:center;box-sizing:border-box ;overflow-wrap:break-word ;'>Figure 6 R&D investment of some pharmaceutical companies in my country (100 million yuan)Figure 6 R&D investment of some pharmaceutical companies in my country (100 million yuan)