4 | MANE LIFE SCIENCES | NOVEMBER 2019
FUTURE OF DRUG INNOVATION IN ASIA PACIFIC REVEALED
The global pharmaceutical market is growing, and in recent years, the Asia Pacific (APAC) region has been one of the main contributors.
The region’s contributions have been discussed and studied broadly, but no research so far has shed light on the future of the APAC pharmaceutical industry. New data, however, collected using a style of analysis designed for emerging markets, reveals a complex landscape and urgent questions regarding the best ways to deliver new discoveries to the public.
How do you measure innovation?
There’s no official definition of innovation in the pharma industry. If you look up innovation in the dictionary, you’ll find something like ‘the creation of a new good or service that generates value’. But how do you define ‘newness’ - or measure the ‘value’ of a drug?
A study by Clarivate Analytics has come up with a new way of measuring it - covering factors from academic alliances to whether the idea gets as far as producing actual drugs. These were measured across three stages: early-stage partnering, drug development and maturity.
The study ranked 929 pharmaceutical and biopharmaceutical products in 14 APAC countries/regions, using data up to Q1 of 2019 and asking the research questions:
Socioeconomic and regulatory factors make a big difference to innovation. The study found that Japan, South Korea and Mainland China (in that order) were the region’s top three countries for pharma innovation, for these reasons:
How does a company’s innovation profile affect its success?
Which companies are leading the way?
Which companies are on the cusp of seizing growth fueled by innovation?
Which countries are most conducive to innovation?
4 | MANE LIFE SCIENCES | NOVEMBER 2019