In line with the trend, Sydney-based contract research organisation (CRO), Novotech has conducted a statistical analysis which indicates that, between 2017 and 2021, over 70,000 new clinical trials were registered in the APAC region, the US, and the EU5 (France, Germany, Italy, Spain, UK). During the forecast period, the APAC region reportedly accounted for 50 per cent of the trials, followed by the US (29 per cent) and the EU5 (17 per cent). China recorded the largest number of new trials, followed by the US and India. Dr John Moller, CEO Novotech, provides his views on the APAC CRO market.
What is your outlook for the Asia Pacific CRO market in 2023?
The latest Novotech research with GlobalData shows that APAC continues to be a global hub for clinical trials. Our current data shows it had the highest growth rate globally with 9 per cent CAGR in 2022. In addition, the APAC is well positioned with 7,600 clinical sites, more than any other region, combined with higher urban density which translates to expedited patient access. We expect the APAC to continue this exceptional growth through 2023 and beyond, fueled by access to patient populations, quality medical and site facilities, site capacity and the ability to deliver accelerated timelines with globally accepted data.
This story is from the BioSpectrum Asia April 2023 edition of BioSpectrum Asia.
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This story is from the BioSpectrum Asia April 2023 edition of BioSpectrum Asia.
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