Updated on 10 September 2012
Asia offers tremendous opportunities in innovation
Global pharmaceutical companies have traditionally not only focused their R&D activities and investment in key markets such as North America and Europe, but have also established clinical practices and mature research infrastructure in these regions. The rapidly changing world economy, however, is shifting the spotlight to emerging markets, perticularly Asia.
The past decade has seen an increase in the number of clinical trials in Asia, but these were largely cost-driven "off-shoring" of patient enrollment, designed to take advantage of the region's large population, diverse ethnic backgrounds and relatively low cost of clinical trials, rather than organically-driving innovation from within the region.
Opportunities in research and innovation
As companies shift their investments towards Asia, the region is quickly gaining importance as a discovery center for new drugs. Asia is the most populous continent in the world and has an abundance of talent as well as opportunity.
Asia Pacific's capacity for innovation is tremendous if you look at the level of private sector spending on R&D and the availability of scientific and engineering talenti. Another important reason global pharmaceuticals are keen to conduct research and innovation in this part of the world is because it serves as a stepping stone for them to build on their Asian presence.