With the recent international efforts towards harmonization of regulation requirements, pharma regulatory affairs have become increasingly more important for company strategy and business development with reference to Asia pacific. Asia-Pacific has a dynamic regulatory environment and regulations are evolving and changing rapidly due to diversity, flexibility, strategic location and potential clinical development environment have attracted global players to pour into this market.
Asia-Pacific region is emerging as the fastest growing pharmaceutical market. The reason for this positive shift can be attributed to the low costs and favorable regulatory environment. This has helped Asia-Pacific pharmaceutical industry to achieve an estimated market size of around US$ 187 Billion in 2009. And it is expected to grow at a CAGR of around 12.6% during 2010-2012.
Pharmaceutical landscape for both Multinational Companies and Asian-based Domestic Pharmaceutical companies is radically different. Success in these countries largely depends on the companies understanding on unique strengths and constraints these markets pose and finally in addressing the complex regulatory challenges.
MakroCare Regulatory Update is a series of eNewsletters designed to assist industry by providing deeper information on the Market indicators and the Regulatory updates in the Asia Pacific region. The first edition deals with Asian member countries. If Asia Pacific is in your expansion plans for the year, click the below link