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A new analysis shows South Korea to be the most attractive early phase destination based on the availability of global and regional suppliers, patient pool and the current regulatory scenario of the country.
The developed markets of North America and Europe together saw approximately 81% of the Phase I trial share in 2013 which is a 6% increase from 2012. Trials from emerging markets of South Korea and Russia also saw a 5% increase in 2013.
Prior to implementing a new market entry strategy, it is important for category managers of pharmaceutical companies to include an emerging market sourcing analysis as part of their category plan. Supply market, regulatory and risk factors are the key parameters that are considered during the analysis with supplier availability and patient pool falling under the supply market factors, regulatory timeline and country risk falling under the regulatory & risk factors.
In this analysis for Applied Clinical Trials by Mathini Ilancheran and Dr J. Fred Pritchard, South Korea is found to be the most attractive early phase destination based on the availability of global and regional suppliers, patient pool and the current regulatory scenario of the country. Russia and China follows as the next attractive destination with regulatory stringencies being a current problem.
Read more at Applied Clinical Trials.