Singapore has off late come to become the nucleus of clinical research activities in the Asia-Pacific region. The country is a natural hub for manufacturers and clinicians. It also possesses one of the best healthcare infrastructure networks in the entire region. Singapore is the third largest market in Asia for conducting clinical trials. The national government has been extremely supportive in developing clinical research activities and maintaining high immunization rates. The Singapore government in recent years has invested approximately USD1.1 billion into vaccine, translational and biomarker research. Additionally, the stringent intellectual-property laws and good clinical practice (GCP) guidelines is a significant source of security and assurance to the clients in the pharmaceuticals industry. Thus, the country is seen to have a great potential to capture the growth of the clinical trials industry not merely due to its strategic location, but also owing to its reputation of having a strong regulation in the biotech and pharmaceutical markets.
It has been estimated that during the period 2010-2012, approximately 200 Clinical Trial Certificates were issued annually. A major proportion of these studies would be in the Phase 1 to 3 stage of drug development. Some of the most important therapeutic areas which would be focused in these trials would include oncology, clinical pharmacology, gastroenterology/ hepatology and cardiology. These areas represent the niche fields where Singapore has not yet completely built its medical expertise. The Singapore Good Clinical Practice (GCP) Guidelines were set up by the Ministry of Health in 1998. These guidelines ensure patient safety and the integrity of the resulting data.
The government’s favorable actions coupled with the presence of world-class, research-oriented hospitals and specialty centers have enabled the country to develop a strong base of clinical trial expertise and capabilities. The hospitals and institutes, such as the National University Hospital, Singapore General Hospital, Tan Tock Seng Hospital, National Cancer Centre, National Neuroscience Institute, National Heart Centre, Singapore Eye Research Institute and the Institute of Mental Health conduct their own medically and scientifically complex clinical trials. The conducting of trials at these institutions produces novel treatments to the patient population, which would otherwise not be available until the experimental treatments are approved. Additionally, the physicians and doctors who lead or participate in these trials gain knowledge about the latest medical advances.
“Singapore Clinical Trial Market Opportunity Analysis” research report by KuicK Research is an intriguing text that gives detailed facts and analysis on latest developments in the Singapore Clinical Trial Market. Report discusses various segments of the clinical trial market and analyzes the factors responsible for the growth and the need to resolve challenges to maintain growth momentum in future. Report discusses following aspects related to booming Clinical Trial Market in Singapore: