Melbourne – 11th October 2010 – Asia-Pacific products are in later stages of development compared to other markets, but still comprise only 15% of global products in development according to MedTRACK, a market leading database of private and public biomedical companies.
The volume of products in development in the Asia-Pacific region still lags behind North America and Europe. The US, for instance, accounts for about 55% of all products in development globally, while Asia-Pacific and Europe account for 15% and 28%, respectively.
However, Asia-Pacific products tend to have a greater portion of developmental products in a late stage development. Indeed, 29% of products are in Phase III or pending approval, compared to 13% in North America and 17% in Europe.
“The fact that products in APAC are in later stage development than other markets could be due to a variety of reasons including fewer products actually making it into development with companies focusing their limited funds on progressing later-stage products,” says Sarah Terry, President and Global Managing Director of MedTRACK database.
“In terms of therapeutic areas of focus, the distribution is in line with Europe. Both have fewer products in development for cancer therapy and more in infections but otherwise similarly distributed,” continues Terry.