With emerging economies such as
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:
Innovation hotspots
R&D focus grows With growing prosperity, ASEAN nations are now spending larger percentages of their GDP on R&D, boosting productivity.