Avance Clinical Awarded Frost Sullivan 2021 Asia-Pacific CRO Best Practices Award for Customer Value Leadership
- Written by ACN Newswire - Press Releases
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Frost & Sullivan says the Asia-Pacific's CRO market value, currently at $6.01 billion, is estimated to reach nearly $11.04 billion in 2026, growing at a compound annual rate of 12.2%.
"The region is becoming the go-to research and development market, with China, Japan, Australia, and South Korea in the lead, accounting for 16% of the APAC clinical CRO market in 2020," according to Supriya Lala Kundu, Best Practices Research Analyst, Frost & Sullivan.
This is the second Frost & Sullivan award for Avance Clinical, which has seen rapid growth in the APAC region over the past year.
Avance Clinical's CEO Yvonne Lungershausen commended her team of more than 150 clinical trial specialists across Australia and New Zealand.
"We have shown, with our 89% growth and repeat business rate of greater than 70% that our focus on gold standard technology paired with solution-orientated clinical experts is the mix clients require in this fast moving, competitive and high-stakes sector. Avance Clinical is immensely proud of this acknowledgment. This award is real recognition of our successful approach to delivering value to our customers.
Clients talk about the advantage of Australia's financial tax rebate incentive of almost 50% on clinical trial spend - but I believe the real benefit is in saving time. Our biotech clients can leverage fast start up with the Australian regulatory process and obtain early clinical data without first acquiring their in-country IND. The net effect for our clients is they can speed up their clinical program by getting into the clinic up to a year earlier than anywhere else in the world, and saving significant associated costs."
Avance Clinical specialises in supporting biotech companies with their early phase clinical trials having conducted over 195 early phase (Phase 1 and 2) trials in the past 5 years involving over 10,000 participants across 105 therapeutic indications.
According to Supriya Lala Kundu, Best Practices Research Analyst, Frost & Sullivan:
"Avance Clinical has grown rapidly over the past year since our last analyst review, including further expansions of clinical services across Australia and New Zealand. Its impressive repeat business rate of greater than 70% speaks to its customer value and reputation in the sector and is a key factor in the 2021 award selection.
Avance Clinical's clients are international biotech companies primarily from the United States, United Kingdom, Japan, China, South Korea, Taiwan, France, and Germany. These clients are seeking a premium CRO with the same experience and advanced technology platforms offered by the major global CROs, but with an agile and customer focused approach to clinical management in Australia and New Zealand.
The company offers best-in-class technologies from leaders such as Oracle, Medidata and Medrio, enabling rapid high-quality data management accepted by all the major regulatory authorities globally, with a highly experienced team of more than 150 clinical specialists, with deep experience across more than 105 indications.
The company's accreditation as a gene technology CRO under the Office of the Gene Technology Regulator (OGTR) has allowed it to expand into clinical trials for vaccines and GMO therapies.
Australia's reputation for FDA compliant scientific and research excellence, its advanced healthcare, and the opportunity to access patients in a less clinical trial competitive environment further reinforces its advantage as a destination for clinical trials."
Key Frost & Sullivan analyst findings around the Avance Clinical offering include:
- Financial Performance: Strong overall financial performance is achieved in terms of revenues, revenue growth, operating margin, and other key financial metrics - Customer Acquisition: Customer-facing processes support efficient and consistent new customer acquisition while enhancing customer retention - Operational Efficiency: Company staff performs assigned tasks productively, quickly, and to a high-quality standard - Growth Potential: Growth is fostered by a strong customer focus that strengthens the brand and reinforces customer loyalty - Human Capital: Commitment to quality and to customers characterize the company culture, which in turn enhances employee morale and retention - Price/Performance Value: Products or services provide the best value for the price compared to similar market offerings - Customer Purchase Experience: Quality of the purchase experience assures customers that they are buying the optimal solution for addressing their unique needs and constraints - Customer Ownership Experience: Customers proudly own the company's product or service and have a positive experience throughout the life of the product or service - Customer Service Experience: Customer service is accessible, fast, stress-free, and high quality - Brand Equity: Customers perceive the brand positively and exhibit high brand loyalty
Learn about the Australian Advantage here https://www.avancecro.com/the-australian-advantage/For more information about the benefits of running your next study with Avance Clinical contact us: https://www.avancecro.com/contact-us/
About Avance Clinical www.avancecro.com
Avance Clinical is the largest premium full-service Australian CRO delivering quality clinical trials, with globally accepted data, in Australia and New Zealand for international biotechs for 24 years. The company's clients are biotechs in their early phases of drug development that need fast, agile, and adaptive solution-oriented clinical research services.
Frost & Sullivan awardsAvance Clinical is a Frost & Sullivan 2020 Asia-Pacific CRO Market Leadership Award recipient and a 2021 Asia-Pacific CRO Customer Value Leadership Award recipient.
Pre-clinical through to Phase 1 and 2Avance Clinical offers pre-clinical services with their experienced ClinicReady team right through to Phase 1 and 2 clinical services leveraging significant Government incentive rebates of up to 43.5% and rapid start-up regulatory processes.
Avance Clinical delivers customised solutions designed around specific client needs rather than a one size fits all approach. With experience across more than 105 indications, the CRO can deliver world-class results and high-quality internationally accepted data for FDA and EMA review.
TechnologyAs a company, Avance Clinical has focused on state-of-the-art technology and gold standard systems across all functional areas to provide clients with the most effective processes. Medidata, Oracle, and Medrio are just some of the technology partners.
Media Contact:Chris Thompsonmedia@avancecro.com
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Authors: ACN Newswire - Press Releases
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