China: Drug Discovery Market Grow 23% annually to 2016

Dec. 29, 2010 - PRLog -- The report “Drug Discovery Outsourcing Market in China” available at http://www.piribo.com/publications/drug_discovery/drug_discovery_outsourcing_market_china.html examines the drivers and restraints for growth as well as government initiatives. It also analyses demand and geographical trends. In addition, it provides an in-depth analysis of the competitive situation. The study concludes with a section on the key strategic recommendations and future outlook.

With fast-paced advancements in genomics, combinatorial chemistry, and high-throughput screening, China has emerged as a major location to which drug discovery is being outsourced. The Chinese drug discovery outsourcing market reached $315.0 million in 2009 and is expected to grow at a compound annual growth rate (CAGR) of 23.0 percent from 2009 to 2016. China has the advantages of scientific expertise and comprehensive infrastructure, which are critical for drug discovery activities.

Apart from India, China is also regarded as a lucrative market, which will help pharmaceutical firms improve drug discovery at a reasonable cost. Rising overhead cost in the United States and European countries has led companies to opt for outsourcing of drug discovery to low-cost countries such as China and India.

The Chinese Government has been providing strong incentives to nurture the domestic pharmaceutical and biopharmaceutical industries. The R&D sector in China has largely benefited from these initiatives, which include tax relief, direct funding opportunities, and development of numerous technology/biotechnology parks, especially in Shanghai.

The report “Drug Discovery Outsourcing Market in China” is available from Piribo at:
http://www.piribo.com/publications/drug_discovery/drug_di...

Piribo product ID: FRS02031

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About Piribo.
Piribo http:www.piribo.com is the source for information products concerning the global biotechnology and pharmaceutical industries. Here you can browse and buy thousands of business information studies, market reports and books.