KUALA LUMPUR: The country has raked in over RM1.16bil in cumulative gross national income from sponsored clinical research since 2012, says Prime Minister Datuk Seri Anwar Ibrahim.
In his keynote speech at the launch of the Clinical Research Malaysia (CRM) Trial Connect 2024 here on Thursday (May 9), Anwar said sponsored clinical research reached its peak last year with a 24% increase in new sponsored studies over 2022.
“The establishment of Clinical Research Malaysia (CRM) to drive and catalyse this industry in Malaysia has proven to be a successful strategic initiative by the Health Ministry.
“What is truly astounding is the fact that CRM has been self-sufficient for the past six years, and... is significantly and positively impacting the country’s clinical research landscape,” he said in his speech, read out by Health Minister Datuk Seri Dr Dzulkefly Ahmad.
As such, he urged the country to take advantage of opportunities in the field by removing barriers to clinical research, improve the ease of doing business here and reduce bureaucracy while adhering to standards.
Regulations and policies would also need to be adjusted to remain relevant with industry and market needs, he added.
Anwar, who is also Finance Minister, said the global clinical trial market was valued at over US$80bil (RM379.28bil) last year, with projected annual growth of 6.5%.
“Half of this is now very much focused within the Asia-Pacific region, especially in China, South Korea, Japan and Australia.
“Reflecting on this, I believe that South-East Asian nations are sleeping giants; because as a whole, (the region) is one of the most diverse locations with skilled workforce and supportive infrastructure,” he added.
Anwar said the industry was also benefitting from the ripple effect of this growth with multinational pharmaceutical companies and contract research organisations (CROs) marking their presence in the country, turning Malaysia into a hub in the region.
He said as the clinical research industry grows, supporting services such as CROs, laboratories, manufacturing plants and logistic services will see expansion as well.
“This is where a skilled workforce is created to support the industry’s needs. We have already observed this in Parexel Malaysia, where a data management centre was set up to support the region.
“Additionally, the establishment of Hematogenix, a central oncology laboratory with Malaysia being one of only four global locations, has contributed to the employment of scientists and bioinformaticians in the country.
“The socio-economic value brought about by clinical research is impactful, with over 2,700 skilled jobs recorded in the clinical research field last year,” he added.
