SINGAPORE, Dec. 14, 2022 (GLOBE NEWSWIRE) -- Novotech, the Asia Pacific centered biotech specialist CRO said the latest industry research publication by GlobalData and Novotech found almost 50% of new trials had sites in Asia Pacific.
According to the new publication titled State of the Global Biotech Landscape: Where the Opportunities Lie, demand for Asia Pacific trial sites is strong with almost half of the more than 27,000 clinical trials initiated in 2021 having sites in Asia Pacific.
The data shows almost 12,900 of the new trials had sites in Asia Pacific.
The report also noted that the Asia Pacific region, which has more than 6,772 trial sites each with access to an average of 2,136 million people, has considerable underutilized capacity presenting an opportunity for growth in multinational trials in the region.
In addition, analysis of trial growth trends found that Asia Pacific has also seen high phase-level growth over the 5-year analysis period to 2022.
- Phases I and II were dominated by Asia Pacific, which served as a trial location in 57% and 49% of trials, respectively.
- US and EU remained stable at approximately 20% at phases I through III.
- RoW representation is low in phases I and II but on par with the US and EU in phase III.
Novotech this month was awarded the Frost & Sullivan Company of the Year Award 2022 for Best Practices in the Asia-Pacific contract research organization industry. Novotech has been a recipient of the Frost & Sullivan Asia Pacific Best Practices awards since 2006.
Frost & Sullivan identifies companies that consistently develop growth strategies based on a visionary understanding of the future, and effectively address new challenges and opportunities.
Frost & Sullivan said:
“Our approach involves the deployment of best practices and strategic analytics across a value chain. Against this backdrop, Frost & Sullivan recognizes Novotech for its valuable achievement.
Novotech addresses the global drug development market’s unmet needs with a strong leadership focus that incorporates client-centric strategies with best-practice implementation.
From feasibility assessments to regulatory submission support, data management, medical monitoring, and project management, the company provides a 360-degree approach to drug development for its biotech clients.”
In response to the Company of the Year Award announcement, Novotech CEO Dr. John Moller said this award is a credit to our entire global team which has decades of biotech drug development experience.
“Our global clients benefit from access to our expert teams in Asia Pacific, which is the fastest-growing clinical trial region, due to its vast patient populations and sophisticated medical research infrastructure.
Our consistent investment in advanced training and technology systems combine to deliver a specialist full-service biotech CRO solution.”
Novotech also recently produced a new publication for biotechs considering China for their clinical research, and the relevant processes required for global regulatory approvals.
The report details regulatory requirements for biotechs including NDA and IND processes as well as ex-US research guidance for a successful US FDA approval pathway.
Novotech provides the relevant regulatory knowledge and drug development pathways specifically designed to support the US FDA approval process, avoiding delays and additional costs.
Novotech has also recently been benchmarked as a top 10 CRO among the world’s leading CROs, is a finalist in the prestigious Scrip awards, and has just been awarded the Gene & Cell Therapy Excellence Award.
In Asia Pacific Novotech has more than 50 Leading Site Partnership agreements with major medical research institutions delivering exclusive benefits for sponsors.
Media Contact
David James
communications@novotech-cro.com
AU: +61 2 8218 2144
USA: +1 415 951 3228
Asia: +65 3159 3427
About Novotech - https://novotech-cro.com
Novotech is internationally recognized as the leading Asia Pacific centred contract research organization (CRO) with global execution capabilities.
Novotech is a clinical CRO with labs, phase I facilities, and drug development consulting services. It has accumulated experience in over 3,700 pre-clinical and clinical projects, including Phase I to Phase IV clinical trials and bioequivalence studies. Novotech is positioned to serve biopharmaceutical clients conducting clinical trials in Asia, the US and globally. Novotech has over 2500 staff working across our offices in 13 geographies.
For more information visit https://novotech-cro.com/contact
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8e13d9b1-e23f-44c5-abd8-444713d441b8
