China Small Molecule CDMO Market Trends Analysis Report 2023: A $46 Billion Industry by 2030 - Increase in Dependence for One-Stop-Shop CDMOs - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "China Small Molecule CDMO Market Size, Share & Trends Analysis Report By Product (Active Pharmaceutical Ingredients API, Finished Drug Products), By Synthesis, By Drug, By Workflow, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The China small molecule CDMO market is expected to reach USD 46.0 billion by 2030, registering a CAGR of 19.4% from 2023 to 2030
Low cost associated with outsourcing services in China, a high number of China-based CDMOs offering end to end contract development & manufacturing organization (CDMO) services and surge in the geriatric population in the country contributing to the disease burden in the country is further supporting the demand for CDMO services in China.
China is recognized across the world as one of the largest industrial hubs. Moreover, it is among the world's most affordable manufacturing destinations. Compared to the products made in the U.S., those made in China cost 5% less, and products built or assembled in Europe cost a staggering 10%-20% higher. China has much lower labor expenses than Western nations. Chinese workers are paid USD 11.90 per hour, whereas in the U.S. workers are paid USD 35.96 per hour. All these factors support the CDMO market in China.
In January 2022, China signed the Asia Pacific free trade agreement. As per this agreement, countries such as Brunei Darussalam, Australia, China, Cambodia, Japan, the Republic of Korea, Indonesia, Laos, Myanmar, New Zealand, Malaysia, Singapore, the Philippines, Thailand, and Vietnam will enjoy free trade, which means 90% of trade tariffs will be eliminated if these countries trade among themselves.
This is expected to improve the outsourcing activities of drug development and manufacturing in China from these countries in the coming years and thus support market growth.
The WHO states that, in the coming years, the geriatric population of China is expected to rise. In 2019, there were 176 million individuals aged 65 years or older, and by 2040, 402 million people will be over the age of 60, which represents around 28% of the world's population.
The rise in the aging population is expected to increase the demand for pharmaceutical contract development & manufacturing activities in the country during the post-pandemic period.
China Small Molecule CDMO Market Report Highlights
- The API segment dominated the China small molecule contract development & manufacturing organization market with the largest revenue share of 61.8% in 2022. This is due the 4 high dependence on China for API and increase in the API exports from China
- Based on synthesis, the synthetic segment held the largest share of 73.2% in 2022, this is due to the increase in small molecule CDMO activities in China
- Based on drug, the generic segment is expected to expand at the fastest rate of 19.8%CAGR, owing to the initiatives taken by the government to improve access of generics in the country. A significant number of drugs going off patent are further supporting the segment market
- Based on workflow, the commercial segment held the largest share of 53.1% in 2022 due to the high number of commercial drug manufacturing activities conducted in the country
- Based on application, oncology segment held the largest share of 38.6% in 2022. Owing to a significant number of drug manufacturing and development activities conducted in the oncology segment in the country
Market driver analysis
- Increase in depend for one-stop-shops CDMOs
- Low cost associated with outsourcing services in China
- High geriatric population contributing to the growing diseases burden in China
Market restraint analysis
- Quality issues associated with outsourcing.
- Limited outsourcing opted by big pharma companies
Covid-19 Impact & Recovery Analysis
Industry Analysis - Porter's
Regulatory Scenario in China
- Bellen Chemistry
- Zhejiang LangHua Pharmaceutical Co., LTD.
- Raffles PharmaTech Co., Ltd
- Shanghai Mathcon Pharmaceutical Co., LTD
- Wisdom Pharmaceutical Co., Ltd.
- Gear Pharma
- Hangzhou Aoya Biotechnology Co., Ltd.
- Desano Inc.
- Shanghai Chemspec Corporation
- Zhejiang Chetou Pharmaceutical Co., Ltd
For more information about this report visit https://www.researchandmarkets.com/r/b35kqy
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