The number of clinical trials in Japan has been recovering in the recent years. Pharma have been conducting global studies from the beginning, regional studies. Also, pharma have outsourced clinical related works to CROs more and more. As a result, the Japanese CRO market has been expanding for the past over 10 years, and reached ¥172 billion in 2016.
The market has been largely occupied by Tier 1 CROs; EPS, CMIC, Quintiles and Parexel. Recently, Tier 2 companies; A2 and M3, have been emerging quickly with M&A and alliance.
The market will concentrate more on Tier 1 & 2. The rest of CROs need to seek M&A and/or alliances with others, to move up in this market.
Increasing global studies and preferred relationship between pharma and CRO will be the key for CRO to survive.
The market has been largely occupied by Tier 1 CROs; EPS, CMIC, Quintiles and Parexel. Recently, Tier 2 companies; A2 and M3, have been emerging quickly with M&A and alliance.
The market will concentrate more on Tier 1 & 2. The rest of CROs need to seek M&A and/or alliances with others, to move up in this market.
Increasing global studies and preferred relationship between pharma and CRO will be the key for CRO to survive.