India, China continue to dominate CRO landscape in Asia Pacific, says Biopectrum-CMR Asia Pacific Annual Survey of CROs
Contract and clinical research organizations (CROs) in the Asia Pacific region are increasingly being leverage by the biopharmaceutical industry to counter challenges of recession, patent expiry, rising R&D costs and dwindling productivity.
- (1888PressRelease) October 20, 2012 - Some survey findings:
24% CROs bet on quality of performance
30% say client expansion is of highest priority
55% function in revenue band of $1-$5 mn
79% believe opportunities will increase
Singapore: Contract and clinical research organizations (CROs) in the Asia Pacific region are increasingly being leverage by the biopharmaceutical industry to counter challenges of recession, patent expiry, rising R&D costs and dwindling productivity. More than three-fourth of the respondents of the 4th BioSpectrum-CMR Asia Pacific Annual Survey of CROs indicated that the market opportunities for both full service and niche operators are set to increase.
The survey also reveals that most of the enterprises operating in the APAC region are small and medium-sized. The average contract size for CROs in Asia Pacific is under $50 million. "With quality being assured by the region's top players, the key factor driving the growth of the industry is the cost effectiveness factor. In fact, this is the key reason why more and more clinical and research and development work is being outsourced to companies in Asia Pacific region from the developed nations," says Mr Narayanan Suresh, Chief Editor, BioSpectrum.
While cost-effectiveness is the dominant reason for outsourcing to APAC, a vast patient pool, trained manpower and infrastructure also score high in this field. Meanwhile, India, China and South Korea are hotspots for patient recruitment and clinical trials. Oncology is the top therapeutic focus area for CROs in the region and the concentration of clinical trials is highest in phase II. However, as Mr Suresh points out, "in the recent years, more work is being done in a wide range of areas such as metabolic diseases, infectious diseases, pain management, hematology, anti-infectives, rheumatology, inflammation and ophthalmology."
Along with the annual survey, BioSpectrum has also put together the view of analysts and industry leaders on the segment. The report comprises in-depth analysis on country-specfic clinical trials markets and the trends in the region.
To purchase the complete digital CRO survey report log on to : http://cybermediaservicesdigitalmag.com/biospectrumasia/index.php
The survey was executed by Cyber Media Research and BioSpectrum.
BioSpectrum Asia is an integrated B2B media platform for the bioscience industry in the Asia Pacific region. It engages its readers from pharma, biotech & medtech industry segments through its media products and services at a daily, fornightly and monthly frequencies across countries, in Asia. Given its sharp reportage focus on the Asia Pacific region, it is also a one-stop information hub on Asia bioscience industry for readers from US and Europe. For more info please log on to : www.BioSpectrumAsia.com
Press Contacts:
Cyber Media Research lead analyst - Mr. Prabhu Ram pram ( @ ) cmrindia dot com
BioSpectrum Editor - Ms Nandita Singh nanditas ( @ ) cybermedia dot co.in
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