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Emerging trends in contract research industry in India
Sushma Drabu1, Alka Gupta, Anupama Bhadauria
1Maharaja Surajmal Institute of Pharmacy, affiliated to Guru Gobind Singh Indraprastha University, New Delhi-110058, India.
Contemporary Clinical Trials
|July 9, 2010
Summary
Contract Research Organizations (CROs) are vital for pharmaceutical R&D and clinical trials. India
Area of Science:
- Pharmaceutical industry services
- Clinical trial support
- Drug discovery and development
Background:
- Contract Research Organizations (CROs) provide essential outsourced services for pharmaceutical R&D.
- The CRO industry is a recession-proof sector with significant growth potential.
- India's role in the global clinical trials market is expanding, with an estimated 5% share by 2012.
Purpose of the Study:
- To highlight the growing importance of CROs in the pharmaceutical sector.
- To analyze the market growth and investment potential of the CRO industry.
- To examine India's position and potential within the global clinical trials landscape.
Main Methods:
- Market analysis of the global CRO industry.
- Review of investment trends and pharmaceutical company collaborations.
- Assessment of India's projected market share and revenue potential.
Main Results:
- The global CRO industry was valued at $18 billion in 2008, with projected annual growth of 14% (2009-2013).
- India's Clinical Research Industry was projected to attract $1.5 billion in revenue from the US and EU by 2010.
- Increased outsourcing from Western countries is driving the establishment of CROs in India.
Conclusions:
- CROs are crucial for efficient drug discovery and clinical trials.
- India presents a significant opportunity for growth in the CRO sector.
- Collaborative efforts are needed to enhance regulatory affairs, transparency, and pharmacovigilance in India's CRO industry.
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