Genae, a med tech-focused CRO, opened a Japanese outpost to broaden its reach, setting up shop in Tokyo with eyes on the growing Asian market for medical devices.
The move is part of a years-long expansion effort by the Belgian company, which has been buying up capacity and entering new territories across Europe and the U.S. Asia was the natural next step, genae said, as demographic changes in the region have led to burgeoning demand for medical devices. Across Japan, China, Vietnam and Malaysia, the market for new medical technologies is expected to grow to $10 billion by 2020, according to the CRO.
And Tokyo is the ideal home base for genae, CEO Bart Segers said in a statement, providing "a vast economic region that supports a population of 36 million people. Tokyo boasts a wealth of capable individuals and companies with excellent technologies."
Genae's latest move follows a February acquisition of an eClinical provider the company believes will make its services more attractive to potential clients. Over the past few years, genae has broadened its platform to include outposts in Switzerland, Germany, the U.K. and the U.S., all the while teaming up with Yale University on medical device trials.
- read the statement