Did you know that 23.6 percent of the world’s pharmaceutical companies are now located in Asia? That’s up from 20.5 percent in 2018 – a substantial jump for a single year, solidifying Asia’s reputation as a thriving biotech and pharmaceutical research hub. Thousands of small biotech companies around the world are turning to Asia for assistance with their research and development, and investments in biotech have been soaring for years. QPS is proud to be a part of this development. In fact, QPS recently announced continuing growth in Asia and hosted 28 delegates from Taiwan at the QPS headquarters in Delaware to discuss the booming Taiwanese biotech market.
The Prospering Biotech and Pharmaceutical Research Industry in Taiwan
By 2025, Taiwan aims to develop and market 20 new drugs (source). With its impressive scientific talent, clinical-trial experience, abundant capital, medical data, and IT expertise, Taiwan’s biomedicine industry is poised for success. Plus, the government recently passed legislation to tighten patent safeguards for pharmaceuticals.
With the wealth of opportunities available in Taiwan, QPS has enjoyed sustained growth in the Asian market. One of the reasons for this is that the demand for first-in-human studies (FIH) has rapidly increased, and QPS is one of few companies with a proven track record for conducting successful FIH studies. In addition, QPS is already well established in Taiwan. According to Ben Hsu, Chief Administrative Officer, QPS, “QPS in Taiwan has conducted more than 1,800 GLP preclinical studies and 400+ clinical trials for drug candidates, involving more than 49,000 subjects and 1,500 sites; we anticipate continued growth.”
When QPS hosted a number of influential pharmaceutical and biotech leaders from Taiwan, they discussed this growth and the future of the industry. An early arrival in the Asian market, QPS has supported the region’s growth through the years and now boasts six locations there – three in Taiwan, two in China, and one in India.
Looking Forward
According to Market Research Future, the preclinical contract research organization (CRO) market in Asia is expected to continue growing, especially when it comes to bioanalysis and DMPK studies to satisfy the increased demand for pharmacokinetic services to support toxicology tests for IND-enabling studies. As growth continues in Taiwan, China is busy developing an impressive pharmaceutical industry and India has become a top destination for clinical trials and drug research.
With 11 turnkey facilities spread across six global regions, QPS is in a great position to take advantage of the expanding international market for drug development. QPS can conduct drug development research in Asia, Europe, or the U.S., offering preclinical expertise and custom-built research services.
Since 1995, QPS has provided discovery, preclinical, and clinical drug development services. An award-winning leader focused on bioanalytics and clinical trials, QPS is known for proven quality standards, technical expertise, a flexible approach to research, client satisfaction and turnkey laboratories and facilities. For more information, visit www.qps.com or email infopr@www.qps.com.
