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Singapore Contract Research Organization Market Size and Share

The report entitled “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, Preclinical Market, Data Management, Biostatistics, Central Laboratory Services, Pharmacovigilance, Bioanalytical, and HEOR), by Number of Clinical Trials, by Therapeutic Area (Oncology, Clinical Pharmacology, Gastroenterology and Hepatology, Dermatology, Cardiology, Diagnostic Imaging, Infectious Diseases, Ophthalmology and others), and covering the competitive landscape of leading 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 I International Corporation, PRA Singapore, Syneos Health, Novotech and SGS. The report concludes with a market projection for the future and analyst recommendations highlighting key opportunities and caveats.

For more details @ https://www.kenresearch.com/healthcare/pharmaceuticals/singapore-contract-research-outsourcing-market/150980-91.html

Singapore CRO Market

The Singapore CRO market tilted towards a positive CAGR during the period 2013-2017. The market is mainly driven by patent expiration of major revenue-generating drugs, competition from generic versions of branded drugs, and rising research and development costs that have driven pharmaceutical manufacturers to look for strategies to reduce costs and speed up R&D processes. Manufacturers are struggling to renew their pipelines while coping with the challenges of effective drug discovery that have propelled the growth of the contract research outsourcing industry in Singapore. Furthermore, the market is backed by top-notch research infrastructure, highly skilled workforce, strong intellectual property (IP), legal infrastructure, and government support.

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Contract Research Outsourcing Market in Singapore

Singapore CRO Market Segmentation

The CRO market includes revenue generated from Phase I, II, II, IV clinical trials, preclinical market, data management, biostatistics and central laboratory services, pharmacovigilance, bioanalysis, and HEOR. The growing emphasis on translational research in pharmaceutical R&D owing to the government’s commitment to scientific research has propelled the growth of the preclinical market in Singapore. Early phase clinical trials such as Phase I and Phase II are growing rapidly due to its small patient pool, strong legal and policy system, world-class infrastructure and connectivity, and access to talent . Other services such as Pharmacovigilance have seen an increase in revenue as their scope has expanded from simple Adverse Drug Reaction (ADR) management to risk management plans and also because they also comply with local and global regulations. Bioanalysis is growing because high costs and risks have led pharmaceutical companies to outsource more preclinical and early-stage development services.

The oncology segment accounted for more than half of clinical trials in 2015. Major factors driving the oncology segment include increasing incidences of cancer, availability of government funding for research and the growing cancer expertise of CROs. Other major therapeutic segments include clinical pharmacology, gastroenterology and hepatology, cardiology, diagnostic imaging, infectious diseases, ophthalmology and others.

Singapore CRO Market Competitive Analysis

The CRO market in Singapore is dominated by multinationals capitalizing on growing government support for clinical research and foreign investment. The number of clinical trials has increased due to the creation of more clinical trial units and greater patient participation, giving them the opportunity to access innovative experimental treatments which are not yet available on the market. The market is concentrated with the top 10 companies occupying more than half of the market’s overall revenue. Key parameters of the competition include the service portfolio and therapeutic areas covered by the contract research organization

Future Potential of Singapore Contract Research Organization Market

The Singapore CRO market is expected to grow at a positive CAGR during the period 2018-2022. The two most important market growth drivers are the reduction of drug lead time and cost. Other growth drivers such as vendor consolidation and increased outsourcing penetration will further increase the CRO market in Singapore.

Main topics covered in the report:

Singapore CRO market size, 2013-2017
Singapore Phase I, Phase II, Phase II, Phase IV, Data Management, Preclinical, Biostatistics, Central Laboratory Services, Pharmacovigilance, Bioanalysis and HEOR Market Size, 2013-2017
Singapore CRO Market Segmentation (by Major Therapeutic Segments and Clinical Trial Phase)
Trends and Developments in the Singapore CRO Market
Government initiatives, rules and regulations in the Singapore CRO market
Singapore CRO Market Competitive Landscape
Singapore CRO Future Outlook and Projections, 2018-2022
Value chain in the Singapore CRO industry

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