Thailand Oncology Clinical Trials Market Report 2022 to 2030

Thailand Oncology Clinical Trials Market Analysis

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Thailand’s oncology clinical trials market is projected to grow from $15.2 Mn in 2022 to $23.9 Mn by 2030, registering a CAGR of 5.84% during the forecast period of 2022-30. The market will be driven by the rising incidence of cancer along with the country's strategic position and inexpensive clinical trial costs. The market is segmented by phase, by study design & by indication. Some of the major players include Pfizer Inc., FHoffmann-La Roche Ltd & Siam Bioscience Co., Ltd.

ID: IN10THCT006 CATEGORY: Clinical Trials GEOGRAPHY: Thailand AUTHOR: Vidhi Upadhyay

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Thailand Oncology Clinical Trials Market Executive Summary

Thailand’s oncology clinical trials market is projected to grow from $15.2 Mn in 2022 to $23.9 Mn by 2030, registering a CAGR of 5.84% during the forecast period of 2022-30. Thailand's pharmaceutical business is the second-largest in Southeast Asia, behind Indonesia. Thai medical services are well-known across the globe due to the country's strong medical foundation, which includes high-quality medical services, skilled healthcare personnel, and a varied range of internationally accredited medical facilities. The nation has 38.150 healthcare institutions, which account for 80% of the total value of Rx medications supplied to patients. In Thailand alone, there were 190,636 new instances of cancer in 2020. According to the Global Cancer Observatory, there will be 290,000 new cancer cases by 2040. Breast, cervical, colorectal, liver, and lung cancers account for around 60% of Thailand's cancer burden.

In recent years, Thailand has seen considerable growth in the number of oncology clinical trials. Clinical trials are being conducted in a variety of therapeutic areas, including breast cancer, lung cancer, colorectal cancer, and leukaemia. The vast majority of these studies are funded by multinational pharmaceutical and biotechnology corporations. Thailand, with its fast-rising economy and well-established healthcare infrastructure, is an emerging clinical trial center. Because of its diversified and huge patient population, as well as a solid network of competent clinical trial investigators and research institutions, the nation is an excellent venue for oncology clinical trials.

thailand oncology clinical trials market analysis

Market Dynamics

Market Growth Drivers

In Thailand, there are various growth factors for oncology clinical trials. The country's well-established healthcare infrastructure, which comprises a big and diversified patient population as well as a network of professional clinical trial investigators and research institutes, is one of the main determinants. Thailand's healthcare system is of good quality, which, along with the country's strategic position and inexpensive clinical trial costs, makes it an appealing destination for oncology clinical trials. The Thai FDA has built clear and fast clinical trial regulatory procedures in order to encourage more sponsors to conduct studies in the nation. The regulatory procedure is transparent, and clinical study approval is often faster than in other countries, which is a substantial benefit for clinical trial sponsors. The rising need for oncology therapies, as well as the rising incidence of cancer, are driving the expansion of clinical trials in Thailand.

Market Restraints

There are also various barriers that must be overcome in order to accelerate the expansion of oncology clinical trials in Thailand. One of the major challenges is a lack of access to innovative technologies and infrastructure. Although having a well-developed healthcare infrastructure, Thailand falls behind other nations in terms of access to new technologies such as molecular diagnostics, imaging, and genomics. This may hinder clinical trial sponsors' capacity to perform cutting-edge research in the nation. Another issue is the lack of patient access and knowledge. Many Thai patients may be unaware of the advantages of clinical trials and may lack access to the information or resources required to participate in them. This may restrict the number of participants recruited for clinical studies, slowing scientific progress. Financial limits are another major impediment to oncology clinical trials in Thailand.

Competitive Landscape

Key Players

Pfizer Inc.
FHoffmann-La Roche Ltd
Novartis AG
AstraZeneca PLC
Merck & Co Inc.
Bristol-Myers Squibb
Siam Bioscience Co., Ltd (THA)
Chiangmai University Pharmaceutical Company Limited (THA)
Mega Lifesciences Public Company Limited (THA)

Notable Insights

In September 2022, The United States Trade and Development Agency announced a grant to Thailand's AMATA Corporation Public Company Limited (AMATA) for a feasibility study to establish a regional cancer center in Chonburi Province.
February 2022, The Chulalongkorn University Cancer Immunotherapy Excellence Center, Faculty of Medicine, and the King Chulalongkorn Memorial Hospital, Thai Red Cross Society hosted a Chula the Impact 7 Seminar on "the Progress of Personalized, Therapeutic Cancer Vaccine: An Innovation of Hope for Thai Society," which was funded by the Chulalongkorn University Second Century Fund (C2F).

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Clinical Trials Regulation in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation

6. Methodology and Scope

Oncology Clinical Trials Market Segmentation

By Phase (Revenue, USD Billion):

Phase I
Phase II
Phase III
Phase IV

By Study Design Outlook (Revenue, USD Billion):

Epilepsy
Parkinson's Disease (PD)
Huntington's Disease
Stroke
Traumatic Brain Injury (TBI)
Amyotrophic Lateral Sclerosis (ALS)
Muscle regeneration
Others

By Indication Outlook (Revenue, USD Billion):

Interventional
Observational
Expanded Access

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.