RESEARCH TRIANGLE PARK, NC--(Marketwire - Jul 14, 2011) - Countries outside the BRIC markets are challenging traditional development areas for a share of pharmaceutical companies' R&D investment, according to a Cutting Edge Information's research on clinical trials in emerging markets.
According to the research, patient availability is one of the top drivers for drug companies looking at Emerging Markets for locating and managing clinical trials. In Mexico, for example, patient retention ranked highest on a list of key clinical trial performance metrics, according to the new study. The doctor-patient relationship is so strong there that once patients enroll in a drug study, trial operators can expect virtually all volunteers to finish.
"Emerging Markets Clinical Development Series: Brazil, Russia, India and China" provides in-depth analysis of BRIC clinical trials' benefits, advantages and challenges. The study is part of a series of studies from Cutting Edge Information about managing clinical trials in emerging markets. The studies include strategies and tactics for successful data quality delivery, site management and technology infrastructure based on quantitative measures of clinical development operations and qualitative data from industry experts.
The series covers the BRIC countries, Latin America, Asia, Eastern Europe and Africa. "Patient respect for their physicians in these markets often provides clinical teams with a better chance to finish clinical testing with complete data and on time," said Adam Bianchi, chief operating officer at Cutting Edge Information.
"Drug companies are looking at BRIC and other countries for access to approximately three billion potential new clinical trial volunteers," he said. "That's several times the medically eligible patient population in established markets."
Pharmaceutical, biotechnology and other life sciences companies currently conduct thousands of clinical trials in the United States, Western Europe and other established markets. However, clinical development teams find it increasingly difficult to meet the patient enrollment numbers needed to give a new treatment the best chance of regulatory approval.
Registered trials in these so-called "pharmerging markets" are on the rise as the life science companies take advantage of perceived lower costs and better patient access and retention. Furthermore, sales projections for these secondary markets predict explosive sales growth, and experts expect similar growth in clinical development sector.
"Overall, the benefits outweigh the challenges for many clinical development teams entering these new markets," said Bianchi.