Opportunities In Asia In Response To Pharmaceutical High Market Demand
Not only is biologics expected to grow to represent nearly 25% of the global market by 2016, few have also missed how the pharmaceutical industry have re-invented themselves in the last few years to remain competitive on the global scene by the development of new business models such as contract manufacturing, joint ventures or even re-location of entire manufacturing sites. Among the geographical regions to gain the most from this changing landscape is Asia.
The global pharmaceutical companies entered Asia 10 years ago but the acceleration of transition of research, development and manufacturing seen in the last 2-3 years is unparalleled compared to that which we have seen in earlier years. Driven by Asia’s larger populations’ growing economies and improved access to life saving medicines, the Asia Pacific region is expected to see substantial growth in the coming years thanks to these changing market conditions and access to lower cost manufacturing, says Niklas Lönnkvist, Envirotainer’s Director of Head of Healthcare Sales Asia Pacific & Middle East.