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.
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.
