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 Research.
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 Perspective.”
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:
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.