Phase 0 and phase 1 clinical studies to be completely outsourced to India by 2011

Phase 0 and Phase 1 Services to be completely outsourced to Asia by 2011

The Asian Clinical Trials industry is being expected to be around $1.5 billion in 2008 and is all ready to double itself in size by 2012. The huge share of Clinical Trials industry in Asia will be held by India, China and Russia. Many other Asian countries that are very firstly developing the most required technical expertise and resources skills necessary to cater to the growing global trend of outsourcing clinical research are Taiwan, Hongkong and South Korea.

Asia is the fastest growing outsourced clinical research destination in the Globe; with the clinical research market in Asia estimated to double in size by 2012.Asia’s big advantage remains the availability of large numbers of well-qualified personnel. The cost benefits of conducting a clinical trial in Asia are well proven by the whopping 50 percent savings in conducting phase I, and nearly 60 percent savings in conducting phase II & III trials in Asia.

This growth is further augmented by the rapid advances made in the improvement of medical infrastructure in Asia.Local corporate hospitals like the Apollo group are expanding their presence in various parts of Asia and are adding several different types of specialties to each center. Also, International hospital chains like Columbia-Asia have entered Asia and are all set to scale-up the medical infrastructure in Asia to International levels.

These changes have increased the confidence of global pharmaceutical companies in Asia being able to provide quality CRO services.Benefits such as diversity, availability of patients, availability of medical, scientific and laboratory resources, educational qualification, cost-effective labor and infrastructure, availability of resources, growing compliance on quality and regulatory standards, intellectual capital, services conscious culture, host of major outsourcing services platforms, fastest growing continent, and climatic condition.

Surveys and studies for the last year reveal that India has been the most preferred clinical destination in Asia. Last year India has bagged around 139 clinical studies outsourced to it, on the other hand china could bag only 98 studies, clearly showing the growth in India’s stature in Asia as the most preferred clinical destination. ClinAsia is completely leveraging on this Asia Advantage. This is the hot topic now and many international CRO’s are looking to increase their operations in Asian region.

One other study says that India is all set to capture 15% of the world’s clinical studies market by 2011 and all initial studies phase 0 and phase 1 would be outsourced to India completely. ClinAsia is one among few to have realized this potential at the earliest and planned its services on the similar trend second to none.

www.clinasia.com