18 September 2013 | Analysis | By BioSpectrum Bureau
Revenue size of APAC CRO firms
The fifth edition of the annual BioSpectrum Asia Pacific clinical research organization (CRO) Survey, which is conducted in association with CyberMedia Research (CMR), yet again identifies the latest trends, issues, perspectives and insights regarding the CRO industry in Asia Pacific (APAC).
While the 2013 survey revealed many hindrances facing the industry, including lack of optimum regulatory efficiency, training of personnel, limited development partnerships between CROs and pharma firms; it also reveals many promising findings, including high willingness to participate in clinical trials among countries like China, India, Australia, Korea, Taiwan, Malaysia, Philippines and Indonesia. Furthermore, the CRO sector in APAC is witnessing a major boom leveraging on the growth of logistics and supply chain management in the region.
The survey reveals that Asia Pacific continues to be dominated by small but niche CROs with varied capabilities operating with revenue sizes limited to $50 million. Of those surveyed, 95 percent indicate that their revenue sizes are in the range of $50 million. Of this pie, 36 percent of the survey respondents indicate that they operate in the revenue band of $1- 20 million. It is interesting to note that five percent indicated that they operate in the above $500 million band, as compared to 2012. There has been a two percent increase in the number of companies operating in the above $500 million band, since then.
According to 25 percent of the CROs surveyed in the fifth BioSpectrum Asia-CMR Asia Pacific Annual Survey of the Clinical and Contract Research Organizations 2013, they serve sponsors with a revenue range greater than $200 million. As many as 60 percent of the respondents serve sponsors with a revenue range lesser than $100 million. Another 15 percent serviced sponsors with a revenue range between $101-200 million. These findings are consistent with the trends captured by BioSpectrum Asia and CMR in previous editions of the CRO survey.