The report titled "Singapore Contract Research Organization Market Outlook to 2022 - by Phase I, Phase II, Phase III, Phase IV, Pre-Clinical Market, Data Management, Biostatistics, Central Laboratory Services, Pharmacovigilance, Bioanalytics and HEOR" covers aspects such as CRO market segment (by Phase I, Phase II, Phase III, Phase IV, Pre-Clinical Market, Data Management, Biostatistics, Central Laboratory Services, Pharmacovigilance, Bioanalytics and HEOR), by Number of Clinical Trials, by Therapeutic Area (Oncology, Clinical Pharmacology, gastroenterology & hepatology, Dermatology, cardiology, diagnostic imaging, infectious diseases, ophthalmology and others), and covering competitive landscape of major CRO companies including Singapore Clinical Research Institute (SCRI), Phoenix Pharma Central Services (S) Pte Ltd, Maccine Pte Ltd, Covance (Asia) Pte Ltd, Quintiles East Asia Pte Ltd, EPS Global Research Pte Ltd., ICON Clinical Research Pte Ltd, PPD Development (S) Pte Ltd, PAREXEL International Corporation, PRA Singapore, Syneos Health, Novotech, and SGS. The report concludes with market projection for future and analyst recommendations highlighting the major opportunities and cautions.
Singapore
CRO Market
Singapore CRO market has inclined
at positive CAGR during 2013-2017. The market is majorly driven by patent
expiration of main revenue-generating drugs, competition from the generic
versions of branded drugs, and increasing research and development costs which
have pushed pharmaceuticals manufacturers to look for strategies to cut costs
and speed up the R&D processes. The manufacturers struggle to renew their
pipelines while facing the challenges of efficient drug discovery which has
propelled growth in the contract research outsourcing industry in Singapore.
Further, the market is supported by best in class infrastructure for research,
highly skilled workforce, Strong intellectual property (IP) and legal
infrastructure and government support.
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Singapore
CRO Market Segmentation
The CRO market includes revenue
generated from Phase I, II, II, IV clinical trials, Pre-clinical market, data
management, biostatistics, and central laboratory services, Pharmacovigilance,
Bioanalytics and HEOR. Growing emphasis on translational research within
pharmaceutical R&D due to the government’s commitment to scientific
research has propelled the growth of pre-clinical market in Singapore. Early
phase clinical trials such as Phase I and Phase II are rising rapidly owing to
its small patient pool, strong legal and political system, world-class
infrastructure and connectivity, and access to talents. Other services such as
Pharmacovigilance has witnessed increase in revenue as their scope expanded
from just addressing ADR (Adverse Drug Reaction) to risk management plans and
also because it also complies with local and global regulations. Bioanalytics
is growing, as high cost and risk has led pharmaceutical companies to outsource
more of pre-clinical and early phase development services.
The oncology segment has
accounted for more than half of the clinical trials in 2015. Major factor
driving the oncology segment include rising cases of cancer, availability of
government funding for research purposes, and growing expertise for cancer by
CROs. Other major therapeutic segments include clinical pharmacology,
gastroenterology & hepatology, cardiology, diagnostic imaging, infectious
diseases, ophthalmology and others.
Singapore
CRO Market Competition Analysis
CRO market in Singapore is
dominated by MNCs that are capitalizing on the increasing government support
for clinical research and foreign investment. The number of clinical trials
increased due to establishment of more clinical trial units and more patient
participation that gives them the opportunity to access innovative experimental
treatments that are not yet available in the market. The market is concentrated
with top 10 companies occupying more than half of the overall market revenue.
Major competition parameters include service portfolio and therapeutic areas
covered by the Contract Research organization
Singapore Contract
Research Organization Market Future
Potential
Singapore CRO market is expected
to grow at a positive CAGR during 2018-2022. The two most significant market
growth drivers are the reduction of drug lag and cost. Other growth drivers
such as vendor consolidation and increased outsourcing penetration will further
augment the CRO market in Singapore.
Key Topics
Covered in the Report:
·
Singapore CRO Market Size, 2013-2017
·
Singapore Phase I, Phase II, Phase II, Phase
IV, Data Management, Pre-Clinical, Biostatistics, Central Laboratory Services,
Pharmacovigilance, Bioanalytics, and HEOR Market Size, 2013-2017
·
Singapore CRO Market Segmentation(by Major
Therapeutic Segments and by Phase of Clinical Trial)
·
Trends and Developments in Singapore CRO
Market
·
Government Initiatives, Rules and Regulations
in Singapore CRO Market
·
Singapore CRO Market Competitive Landscape
·
Singapore CRO Future Outlook and Projections,
2018-2022
·
Value Chain in Singapore CRO Industry
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