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China: Biosafety testing

Market opportunity: Biosafety testing

Key details

Opportunity: Biosafety testing

Country: China

Sector: Life sciences

Summary

The COVID-19 outbreak in 2020 has focused attention on biosafety in China. Increasing requirements by regulatory agencies such as the FDA and ICH are driving the need for increased biosafety testing.

Historically, China’s pharmaceutical industry was monopolised by generic drugs, but it has evolved in recent years. The entire supply chain, including clinical research organisations, is now well established but compared with other countries, there are fewer GMP/GLP qualified third-party providers capable of providing biosafety testing and analysis.

This is a clear gap which needs to be addressed in order to meet the fast-growing market demands.

Scale of opportunity

From 2012 to 2016, China's biopharmaceutical outsourcing service market was the fastest growing in the world, increasing from 100 million CNY (£11 million) to 2.1 billion CNY (£230 million) - a compound growth rate of 30.5%.

Frost & Sullivan predicts that the domestic biopharmaceutical outsourcing service market will continue to grow at a rapid compound annual growth rate of 34.8% to reach 9.2 billion CNY (£1 billion) by 2021.

Eligible companies

Scottish CRO/CDMO companies specialising in biosafety testing.

Smaller biotech companies/start-ups with strong capabilities and expertise in offering unique biosafety testing solutions.

Any suppliers to the biosafety testing industry.

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