The Chinese pharmaceutical industry is turning to local suppliers for reagent procurement, seeking to reduce costs and shorten delivery times
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Chinese pharmaceutical R&D companies are turning to local suppliers for reagent procurement to reduce costs and shorten delivery times. Due to the increase in import tariffs caused by the U.S. trade war, the market share of Western suppliers such as Thermo Fisher Scientific and Merck has been affected. Industry executives indicate that there will be greater reliance on domestic companies such as TITAN SCIENTIFIC and Vazyme Biotechnology in the future. It is expected that the import value of laboratory and diagnostic reagents in China will slightly decrease to USD 5.76 billion in 2024
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