|[January 24, 2013]
Growth and R&D Maturity Make ASEAN the New BRIC for Formulation and Delivery
BOSTON --(Business Wire)--
Move over, BRIC. Hello, ASEAN.
With emerging economies such as China and India slowing down, the
Southeast Asian nations are emerging as key destinations for
multinational companies, both as markets for their products as well as a
source for new technologies, according to Lux
The growing maturity of ASEAN's higher education institutions,
accompanied by higher R&D spending, make them attractive partners to
drive indigenous innovation to serve local needs. Research originating
from the region covers a wide range - from blue-sky to regionally
focused clinical and product relevant solutions. The region also offers
unique capabilities. For instance, the formulation and delivery research
at the National University of Singapore is largely health-care-oriented,
creating enhanced formulations to improve wellness or clinical outcomes.
"As a collective bloc, ASEAN's allure is set to steadily increase and is
poised to rival India and China in market potential due to its rapidly
growing population and economy," said Yan Xiang Yang, Lux Research
Analyst and the lead author of the report titled, "Islands
of Innovation in a Blooming ASEAN - A Formulation and Delivery
Lux Research analysts analyzed primary publications from each country
throughout the region to zero-in on the innovation hotspots in the ASEAN
countries, with particular focus on formulation-and-delivery-related
expertise. Among their findings:
Malaysia, Singapore and Thailand are innovation hotspots.
Malaysia, Singapore, and Thailand are the powerhouses of innovation,
contributing more than 95% of the region's total scientific
publications and 98.5% of the region's formulation and delivery work.
Thailand shows surprising diversity in thought, while Singapore leads
R&D focus grows. With growing prosperity, ASEAN nations are
now spending larger percentages of their GDP on R&D, boosting
productivity. Singapore leads the way with R&D spending of 2.14% of
GDP. The rest of the countries still spend much less but both Thailand
and Malaysia expect to soon cross the 1% threshold.
Growing consumer base. Since 1980, the combined population of
ASEAN nations has nearly doubled to 341 million and is growing at an
average annual rate of 1.41%, faster than the world rate of 1.1%. To
tap the growing market, industries such as consumer packaged goods
(CPG) and pharmaceuticals are focusing on the most populous nations of
Indonesia, the Philippines, Vietnam and Thailand, all of which can
sustain a volume-driven growth strategy to counter depressed sales
The report, titled "Islands of Innovation in a Blooming ASEAN - A
Formulation and Delivery Perspective," is part of the Lux Research Formulation
and Delivery Intelligence service.
About Lux Research
Lux Research provides strategic advice and ongoing intelligence for
emerging technologies. Leaders in business, finance and government rely
on us to help them make informed strategic decisions. Through our unique
research approach focused on primary research and our extensive global
network, we deliver insight, connections and competitive advantage to
our clients. Visit www.luxresearchinc.com
for more information.
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