Leading technology scouting and market analysis firm focuses its sights on the world’s fastest-growing biopharmaceutical marketplace, and raises coverage of strategic formulation and delivery technologies.
Boston, MA – February 14, 2012 – Lux Research announced today the launch of its new China BioPharma Intelligence service, extending its coverage to a strategic market that poses both partnering opportunities and competitive threats to established western biopharma companies.
Comprising a talented team of well-networked, native analysts based in Shanghai, Singapore and Boston, the service will provide Lux Research’s global clients with ongoing technology scouting and market intelligence from one of the world’s fastest-growing biopharmaceutical markets and the world’s most dynamic economy.
“China Rising is an apt description of the entry and presence of China on the world biopharmaceutical stage. China has made biotechnology and healthcare a major funding prerogative in its long-term R&D strategy,” said Richard Jun Li, Lux Research Director for China. “With the 2009-2011 period seeing a cumulative CNY2.6 billion (US$411 million) invested across 223 projects, China’s spending on basic research funding has risen 30-fold over the past 15 years.”
The China BioPharma Intelligence service will cover the broad landscape of emerging innovative technologies and companies, delivering keen insights into market dynamics and trends, while cutting through the complex regulatory and government-driven environment. It will provide regular, detailed guidance on a wide variety of drug and device development technologies ranging from stem cells to molecular diagnostics and sensors, medical devices, genomics and proteomics, novel formulation and therapeutics.
Although Lux Research officially just launched its specialized China BioPharma Service, it has been scouting China’s biopharmaceutical landscape for years, and analyzing emerging developments to uncover future trends. Among its key insights:
- China is aggressively investing. The Asian giant plans to raise the pharmaceutical sector investment target 10-fold to CNY27.2 billion (US$4.3 billion), through an innovative public-private investment partnership, adding further momentum to the growth of biopharma in China. These new initiatives through the National Science Technology Major Program will help China transform into a global pharmaceutical powerhouse — shifting focus from simple drug and generics manufacturing to early-stage R&D. China will also produce planned innovation clusters and home-grown technology platforms to create a self-sustaining local market.
- Partnerships will be key for western companies. China’s rapidly maturing technology companies are forcing a dramatic change in business models for western companies seeking to do business in the world’s most populous country. Western firms can no longer consider China as a mere low-cost manufacturing base but need to find ways to partner with Chinese firms, and innovate rapidly, to gain access to the local market.
- Rising China threatens western dominance. China’s rising biopharmaceutical companies mean an imminent challenge to the traditional western dominance of the biopharmaceutical industry. This will happen via export of Chinese technologies and solutions to U.S. and European markets.
Clients subscribing to the Lux China BioPharma Intelligence Service receive ongoing research on market and technology trends, continuous technology scouting reports in the weekly Lux Research China BioPharma Journal and quarterly State of the Market Reports. They will also receive results of analyses from the Lux Innovation Grid, a robust framework that identifies and ranks new and emerging companies, and benefit from on-demand access to Lux Research analysts.
Lux Research also announced the expansion of its Targeted Delivery service, focusing on the strategic role that formulation and delivery technologies play in drug development strategy and therapeutic franchise value. These innovative technologies are being used to expand indications, extend patent life and breathe new life into difficult-to-deliver drugs. The new demands on formulation and delivery also include packaging and delivering biologics, increasing drug potency and half-life, and greater targeting accuracy. The new Lux Research Formulation and Delivery Intelligence service will also examine the increased competition from Asia, particularly China.