Avance Clinical is an Australian owned Contract Research Organisation (CRO) that has been providing high-quality clinical research services fit for global regulatory standards to the local and international drug development industry for 24 years.

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.

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