Asia Pacific Clinical Trials Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis

The Asia Pacific clinical trials market size is expected to reach US$ 16,762.21 million by 2031 from US$ 9,339.52 million in 2023. The market is estimated to record a CAGR of 7.6% from 2023 to 2031.

Executive Summary and Asia Pacific Clinical Trials Market Analysis:

Asia Pacific (APAC) is the fastest-growing regional market for clinical trials and is segmented into China, Japan, India, South Korea, Australia, Indonesia, Singapore, Malaysia, and the Rest of APAC. Countries such as Australia, India, and South Korea are estimated to witness various growth opportunities due to the rising development in the healthcare sector. In addition, governments of these countries are increasing their efforts to provide clinical trials. Also, rise in the incidence of chronic diseases and growing awareness regarding clinical trials are likely to offer greater growth opportunities to the market players in the coming years.

Asia Pacific Clinical Trials Market Strategic Insights

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Asia Pacific Clinical Trials Market Segmentation Analysis

Key segments that contributed to the derivation of the Asia Pacific clinical trials market analysis are study design, indications, and phase type.

• Based on study design, the Asia Pacific clinical trials market is bifurcated into interventional trials and expanded access trials. The interventional trials held a larger share of the market in 2023.
• Based on indications, the Asia Pacific clinical trials market is segmented into autoimmune/inflammation, pain management, oncology, neurological disorders, diabetes, obesity, metabolic disorders, cardiovascular, and others. The oncology held the largest share of the market in 2023.
• Based on phase type, the Asia Pacific clinical trials market is segmented into phase I, phase II, and phase III. The phase I held the largest share of the market in 2023.

Asia Pacific Clinical Trials Market Outlook

Research is a significant and essential part of the pharmaceutical, biopharmaceutical, and medical device industries, among others, which enables them to come up with new solutions for various therapeutic applications with significant medical and commercial potential. The pharmaceutical industry is one of the most R&D-intensive industries in the world. Efforts are being made to achieve greater effectiveness and efficiency in fulfilling patients' needs. The cost of medicines has been a prime concern for pharmaceutical companies as they bank on their R&D activities to achieve intended cost targets. Over the last decade, the number of new drugs approved yearly has also increased. R&D expenditure is instrumental in companies' efforts to discover, examine, and produce new products; make upfront payments; improve existing outcomes; and demonstrate product efficacy and regulatory compliance before launch. These investments differ as per the need and demand for clinical trials. The cost includes materials, supplies used, and employee salaries, along with the cost of developing quality control. According to PhRMA Member Companies 2021 report, the top 15 largest pharmaceutical companies by revenue invested US$ 133 billion in R&D cumulatively, and ~44% of the total R&D investment was allocated to clinical trials. These companies, in collaboration with hospitals, are investing in developing products to treat various diseases and disorders, including immunological disorders. In June 2021, Takeda announced ADVANCE-1, a randomized, placebo-controlled, double-blind Phase 3 clinical trial to evaluate HYQVIA [Immune Globulin Infusion 10% (Human) with Recombinant Human Hyaluronidase] to maintain treatment of chronic inflammatory demyelinating polyradiculoneuropathy (CIDP) as its primary endpoint. Thus, increasing R&D investments by companies are fueling the clinical trials market growth.

Asia Pacific Clinical Trials Market Country Insights

Based on country, the Asia Pacific clinical trials market comprises China, Japan, India Australia, South Korea, Indonesia, Malaysia, Singapore, and the Rest of Asia Pacific. China held the largest share in 2023.

The growth of the clinical trials market in China is primarily attributed to the established pharmaceutical market, the increase in R and D expenditures by the pharmaceutical and biopharmaceutical companies, the rise in the number of clinical trials due to lower costs, and favorable regulatory policies. China has the world's second-largest pharmaceutical market. The huge population in the country, coupled with the rising incidences of various communicable and noncommunicable diseases, is boosting the growth of pharmaceutical companies in the country, thereby making it a prime market for clinical trials in Asia Pacific.

China is expanding its support for clinical trials of drugs, resulting in the acceleration of new drug development. According to The Annual Report on the Progress of Clinical Trials for New Drug Registration in China, a total of 3,358 clinical trials of medications were registered in the country in 2021; 3,410 in 2022; and 4,300 in 2023—indicating constant growth. In addition, 500 biological products were approved, with oncology, dermatology, and endocrinology being key therapy areas. In addition, the country has emerged as an increasingly attractive R and D outsourcing destination for international pharmaceutical companies with an aim to reduce their product timeline and cost to the market. According to Clinical Trials Arena, the involvement of Western commercial companies in trial runs in the country has increased gradually from 100 trials per year in 2010 to ~350 trials in 2021.

Over the past few decades, the pharmaceutical industry in China has focused on research and development to develop new drugs. In 2021, Nuance Pharma, based in Shanghai, China, entered a deal with Verona Pharma for exclusive development and commercialization rights of ensifentrine (a selective dual inhibitor of PDE3 and PDE4 enzymes) in Greater China. In April 2023, Nuance Pharma dosed the first patient in a Phase III trial investigating ensifentrine as a maintenance treatment for chronic obstructive pulmonary disease.

Asia Pacific Clinical Trials Market Report Highlights

Asia Pacific Clinical Trials Market Company Profiles

Some of the key players operating in the market QVIA Holdings Inc, Parexel International Corp, IXICO Plc, Charles River Laboratories International Inc, ICON Plc, WuXi AppTec Co Ltd, SGS SA, Syneos Health Inc, Thermo Fisher Scientific Inc, Laboratory Corp of America Holdings, CliniRx Research Private Limited, Caidya, Oracle Corp, Medpace Holdings Inc, and SIRO Clinpharm Pvt Ltd, among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.

Asia Pacific Clinical Trials Market Research Methodology :

The following methodology has been followed for the collection and analysis of data presented in this report:

• Secondary Research

The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:

• Company websites, annual reports, financial statements, broker analyses, and investor presentations.
• Industry trade journals and other relevant publications.
• Government documents, statistical databases, and market reports.
• News articles, press releases, and webcasts specific to companies operating in the market.

Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.

• Primary Research

The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis and gain valuable insights. These research interviews are designed to:

• Validate and refine findings from secondary research.
• Enhance the expertise and market understanding of the analysis team.
• Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects.

Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:

• Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers
• External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise

Asia Pacific Clinical Trials Market Country and Regional Insights