05 September 2022 | Monday | News
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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.