London, United Kingdom (PressExposure) June 23, 2011 -- The pharmaceutical industries of the US and Europe have been facing severe financial constraints over the past few years, which are expected to worsen in the coming years. With constraints such as the increasing cost of introducing New Molecular Entities (NME), which is expected to reach more than $3 billion in 2008, tightening regulatory pressures resulting in fewer FDA and other regulatory agency approvals, blockbuster drugs worth more than $100 billion experiencing patent expiry by 2014, and the drying developmental pipelines of the pharmaceutical industry, cost cutting pressures are mounting on pharmaceutical companies, especially the big ones. These pressures are expected to drive these companies towards low-cost countries such as Brazil for their R&D activities, which are one of their major expenses.
Brazil, over the last decade, has developed significant capabilities in clinical trials. Brazil is able to provide significant cost savings in the range of 20-30% for clinical trials. With discovery research occupying close to one-third of the Research and Development (R&D) expenditure for the Western pharmaceutical industry, outsourcing to low-cost countries is logical. As the financial and regulatory pressures grow on the US and European pharmaceutical industry, it is expected to further propel the growth in the clinical trial market in Brazil.
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Patient recruitment causes clinical trials to delay in Western countries as people have access to good medical care from government hospitals and also they have medical insurance by which they can afford treatment even in private hospitals. But in Brazil many people are devoid of medical care as there are limited facilities concentrated to a few cities/provinces making these patients can easily available for conducting clinical trials and also it's easier to find patients who are currently not on any therapy. Brazil has the large treatment naïve population concentrated in urban area, compared to the US, the UK, Western Europe and other countries of Latin America.
GBI Research, the leading business intelligence provider, has released its latest report, "Emerging Market for Clinical Trials in Brazil - Improved Guidelines from ANVISA and CONEP are Shortening the Regulatory Approval Process and Advancing the Market" that provides key data, information and analysis of the major trends and issues affecting the clinical trial market in Brazil. The report provides comprehensive insight on the reasons for outsourcing clinical trials to Brazil and the key services provided by the Clinical Research Organizations (CROs) of Brazil. The report provides a detailed analysis of the Brazilian market in terms of its size, and the major service offerings of the CROs in Brazil. The report also discusses the factors that are driving the clinical trial market in Brazil. The report delves into the key documents required by the investigator and the sponsor before, during and after the conduct of clinical trials. The report also provides key alliances between the CROs of other countries and the local CROs of Brazil. The report also looks into the major challenges that can restrict the growth of the clinical trials market in Brazil.
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