Asia has had a dramatic spike in interest for medical research, pharma advancement and global investment. In this come new opportunities to utilize these global markets for clinical research and leverage on factors like quality, speed and cost on multiple levels. It appears to be a win-win situation for the countries, the industry and the companies.
Clinical research in Asia is offering companies new global markets for drug development, large talent pool of qualified staff, economic benefits and quality research. Of the main countries in Asia, China and India are emerging as leaders as they recruit patients faster, cheaper and better than Europe, South America or the US because doctors are engaged and the economies are encouraging more research.
Strengths include: new revenue sources, maximizing financial investment, possibly quicker recruitment, high quality, shorter trial timelines. Weaknesses are IP issues, regulatory challenges, market uncertainty, due diligence, partnerships, trust and evolving regulations.
Asia will continue to grow dominant and gain reputation as a destination for clinical research, encouraged by governments of all countries. Since all are experiencing a sudden boom, there are growing pains that will possibly slow growth or challenge its potential. In the long term, these markets will be truly valuable to all companies, regardless of their role in the drug development process.