Asia Pacific Drug Development Market Report and Forecast 2024-2032

Asia Pacific Drug Development Market Outlook

The Asia Pacific drug development market reached USD 46.96 billion in 2023 and is projected to grow at a CAGR of 7.1% over the 2024-2032 forecast period.

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The changing market dynamics, such as the constant growth of the pharmerging market, coupled with the saturated growth rates in established markets, are driving the growth of the drug development market in the Asia Pacific. Also, capital inflows from the western region in the Asian pharmaceutical industry offer substantial opportunities for business expansion to new entrants.

Market Segmentation

Drug development is the method of developing a new drug once a lead compound has been discovered through the drug discovery method. The Asia Pacific drug development industry can be divided on the basis of segments like mode, process step, and therapeutic area.

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The industry can be broadly categorised based on mode into:

• In House
• Outsourced

The industry can be divided on the basis of process step as:

• Process Research Development
• Formulation
• Analytical and Stability Studies
• Drug Metabolism and Pharmacokinetics (DMPK)
• Safety Assessment (Toxicology)
• Regulatory Compliance
• Packaging

The industry can be divided based on the therapeutic area:

• Oncology
• Inflammation and Immunology
• Cardiology            
• Neuroscience
• Others

The EMR report looks into the Asia Pacific drug development markets like India, Japan, and China.

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Market Analysis

Regulatory authorities such as the China Food and Drug Administration have made significant improvements in addressing critical system gaps. These are working to provide the basis for enhancing the registration process and driving developments in the drug development market in the Asia Pacific in order to stimulate growth. In the clinical trials, companies have efficiently shifted from giving a value proposition based on "speed and cost" to value-added proposals. It involves the transition from early-stage licensing to later stage licensing for growth. However, the trend for business model charges, as well as risk-sharing and collaborations, are being adopted. The rise in new product launches depicts the remarkable growth within the Asia Pacific drug development industry. The cost-saving advantages of the Asian market have prompted global companies to integrate Asia into its global framework for drug development. However, to some degree, the existence of some constraints in the area is anticipated to hinder growth. One of these problems is that the study promoters have to pay the cost of studies and research in Asia, whereas insurance providers and government payers in the western countries make payments throughout the trial for the general healthcare costs of enrolled patients. Nevertheless, the average cost of running studies in the Asia Pacific is significantly lower than in the West, thus, reducing the impact of this constraint.

Competitive Landscape

The report presents a detailed analysis of the following key players in the Asia Pacific drug development market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Samsung Biologics
• WuXi Biologics
• Celltrion Inc.
• PT Kalbe Farma Tbk.
• Eurofins Advinus
• Labcorp Drug Development
• Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter's Five Forces model.

Key Highlights of the Report