In 2002 PAREXEL set up offices in Shanghai and Hong Kong. The company's Chinese headquarters are based in Shanghai, and today there are five offices in China's major cities with over 500 employees.Read more
Drawing on more than 30 years of expertise, PAREXEL is able to provide full-function clinical trial services with a special focus on developing innovative service lines such as PAREXEL D?ng Hu?, China Trial Solution, designed to support clients through locally delivered, streamlined services that support single-country registration trials and are tailored to meet Chinese NDA submission requirements.
Industry Status and Trends
There are many reasons why China is such an important market for clinical research: demographic, economic and political.
The sheer size of China's population provides an efficient foundation for the recruitment of study participants and provides ideal gene pools for diverse pharmacogenomics studies.
Significant savings can be made on overall clinical trial cost since the cost of conducting trials in China can be 1/3 of the total cost in the US due to lower per patient costs.
The Chinese government aims to make China the world's R&D hub, and in order to achieve this goal has created several initiatives to encourage international companies to set up R&D centers. More than 20 global biopharmaceutical companies have established R&D centers or labs in China.
Although the Chinese CRO market scale currently comprises only 7%-10% of the world's total CRO market, by 2016 it is estimated that China will be the second largest CRO market in the world, with country CRO revenue equal to the sum of all European markets.
Need for Clinical Trial Talent Development
Before going on sale, all healthcare products have to undergo clinical trials in China. This fact, plus the general attractiveness of the Chinese market to major healthcare companies, means that there is a huge demand for qualified staff in all areas of clinical research: R&D, Medical Affairs, Quality Assurance compliance, Pharmacovigilance, Regulatory Affairs and Clinical Data Management.
With over 70 medical/pharmaceutical universities and colleges in China, the potential for bridging this gap is good. PAREXEL Academy plans to use its global experience of partnering with renowned universities to develop industry-relevant programs for local talent development.
Chinese investigators are held in high esteem: they are well educated and motivated to participate in clinical trials. PAREXEL Academy's extensive program of seminars for site staff and clinical trial professionals supports the expansion of clinical research in China by creating a qualified pool of investigators and study nurses.