Unlocking the clinical trial potential of "New Markets"
The clinical trials market is growing rapidly, all the time. Currently, there are more than 104,000
underway around the globe. The US, France and Canada are dominant players in the game, but the clinical
trials map has expanded rapidly toward Asia, Central and Eastern Europe, Central and South America and
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Globalisation increases possibilities. It also increases pressures for more successful trials, more
often. The market is also fiercely competitive, creating a need to constantly explore fresh locations in
conduct studies. But it's not as easy as sticking a pin in a map. There's a long and complex shopping list
that dictates the suitability of so-called new locations – items like budgets, populations, demographics,
infrastructures, favourable regulatory conditions, existing frameworks and expertise, economic and
Ticking those boxes, less 'popular' countries such as Kazakhstan, Kyrgyzstan, Uzbekistan, Georgia, Armenia
and Azerbaijan are coming under the spotlight as suitable potential clinical trial hubs for a number of
Notable in all of these countries is a naïve population, highly motivated to participate in trials.
Vast improvements in standards of medical care is another positive common factor, along with pools
of highly educated medical workers all of which creates an environment supportive to clinical trials.
Georgia has the fastest regulatory approval times in Eastern Europe; Uzbekistan's rapidly-growing population means increasing consumer demand for pharmaceuticals..
In terms of logistics, there are all sorts of practical challenges to overcome – the sheer size of
territories, or certain weather conditions. The strength of some countries lies in transportation and
storage of medicines. In others, it's warehouse capabilities – all of these factors are being examined.
However, to fully tap into the potential of these markets, careful, bespoke organisation is needed. The
requirements for Georgia, Armenia and Azerbaijan in terms of project management differ from those in Central
Asia – COREX has already identified approaches to deal effectively with these differences.
There are many factors to be taken into consideration when laying foundations for the future in these new
territories, not least economics, government involvement and response from the public.
However, The COREX Logistics team believes that these regions have a high potential for clinical trials and that there are positive times ahead. If you’d like to read about our view of New Markets for clinical trials in more detail, including the views of the COREX team, then download our free White Paper on the subject.