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SYDNEY, AU, Sept 2, 2022 - (ACN Newswire) - Novotech, the leading Asia Pacific biotech specialist CRO has released new market data in a report now available titled "Evolution of Clinical Trials in the Asia Pacific Region". The report was prepared by GlobalData and confirms that "the Asia-Pacific (APAC) region was the largest contributor to the global clinical trial landscape from 2017 to 2021, accounting for more than 50% of conducted trials during the analysis period."
Download report here https://novotech-cro.com/whitepapers/evolution-clinical-trials-asia-pacific-region-compared-us-and-eu5
In addition, the GlobalData research found that all phases of clinical trials in the region registered higher growth than both the US and the EU5.
The region registered significantly higher growth than the US and the EU5 across all analysed therapeutic areas, including CNS diseases, cardiovascular diseases, gastrointestinal diseases, and infectious diseases, the latter of which witnessed the highest growth. There was also 100% growth in oncology trials during the same period.
GlobalData analysis of this strong growth has been linked to a range of factors, including:
- site availability, particularly for oncology trials, when compared to the US and Europe
- lower operating costs
- the pharmacogenomic profile of Asian populations as a key factor that requires Phase I data in local populations.
"Add to the mix the ease of regulatory compliance as well as the high standards required, and overseas drugmakers have never been keener to access this burgeoning market," according to GlobalData. "Recent streamlining of drug approval by the government, guided by the National Health Commission (NHC) and National Medical Products Administration (NMPA), has also resulted in a more efficient and clear-cut drug approval system based on global standards."
According to Yooni Kim, Vice President, Global Clinical Services Novotech: "Asia-Pacific offers a compelling solution for expedited clinical trials with its vast patient populations, less competitive clinical trial landscape, and world-class KOLs, in addition, regulatory reforms have accelerated approval processes. Novotech's service delivery model is tailored to the needs of biotech clients. Our local teams have exceptional site and investigator access, our project management approach emphasizes problem-solving, ownership and flexibility, and our investments in data and technology ensure clients have real-time access to trial performance. In addition, experienced CRO operations across APAC and the US offer a unique and unparalleled suite of services for early to late phase biotech clinical research."
Novotech has recently been benchmarked as a top 10 CRO among the world's leading CROs, and has signed 45 Leading Site Partnership agreements over the last 3 years.
About Novotech
Novotech is the leading Asia-Pacific biotech specialist CRO. Novotech has integrated labs and phase I facilities and provides drug development consulting and clinical development services across all phases. It has been instrumental in the success of approximately 4,000 clinical trials across a broad range of therapeutic areas. Novotech is well-positioned to serve biopharma clients conducting clinical trials in Asia-Pacific and the US. For more information visit https://novotech-cro.com/contact
Media Contact
David James
E: communications@novotech-cro.com
AU: +61 2 8218 2144
USA: +1 415 951 3228
Asia: +65 3159 3427
Topic: Press release summary
Source: Novotech Health Holdings Pte Ltd
Sectors: BioTech, Healthcare & Pharm, Clinical Trials
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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