{"id":55933,"date":"2023-04-18T12:04:27","date_gmt":"2023-04-18T10:04:27","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/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\/"},"modified":"2023-04-18T12:04:27","modified_gmt":"2023-04-18T10:04:27","slug":"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","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/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\/","title":{"rendered":"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"},"content":{"rendered":"
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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”<\/a> report has been added to ResearchAndMarkets.com’s<\/strong> offering.<\/p>\n

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\nThe 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<\/p>\n

\nLow 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.<\/p>\n

\nChina 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.<\/p>\n

\nIn 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.<\/p>\n

\nThis 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.<\/p>\n

\nThe 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.<\/p>\n

\nThe 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.<\/p>\n

\nChina Small Molecule CDMO Market Report Highlights<\/strong><\/p>\n