Summary
India is attracting a lot of attention as a new region for conducting global clinical trials. Today, the total market value of clinical research performed in India is about US$100 million. The clinical trial process is costly as well as time-consuming. The cost of pushing a drug through clinical trials ranges between US$350-500 million. Currently, there are more than 20 well-established clinical trial organizations in India with a well-developed skill set to comply with the standards such as ICH-GCP guidelines. A large part of it (30%) is outsourced to Clinical Research Organisations (CROs). The cost of trials in India may be just 20-60 percent of the cost in western countries. At present, about 20-30 percent of the clinical development activity is outsourced to developing countries like India. Hence, foreign drug companies are flocking to India for trials. Today, about 80 government and privately owned - Indian hospitals are engaged in global and local clinical trials. Multinationals are also stepping into the Indian market, attracted by the vast pool of scientific talent. MNC players in the CRO segment are - ICON Clinical Research, Omnicare Clinical Research, Pharmanet global, Pharm-Olam, ClinTec International and Quintiles Spectral. The 2010 projections for the Indian clinical market of US$1.5-2 billion are based on the likelihood that, Indian trial sites can contribute almost 20 percent patients to global clinical trials.
Scope of the report
The report starts by providing a good understanding of clinical trials in India. The two sections namely, Executive Summary and Highlights capture the essence of this exhaustive report in a few pages. It is at once summary of the report and an ideal introduction to the complex issues that appear in the latter parts of the report. The middle of the report focuses on market scenario and major players, and an in-depth analysis of the growth in the industry considering the various factors given. It also deals with the technology, growth factors and critical success factors that affect the industry. The regulatory framework in which the trials are being conducted is discussed in brief and the issues and challenges faced by the industry are also listed. The end section of the report forecast an outlook for the future and provides utilities such as glossary. In this section the report builds upon the information and analysis of the previous chapters which goes out on a limb and predicts the configuration of the industry in the future.
Benefits
Companies offering services in Lifesciences and having a presence in clinical trials conducting; will find this report a good source of latest developments in the industry. Clinical Research Organisations (CROs) that are in India will find this report highly informative in understanding the current situation and analyzing delicate issues that may crop up in the latter part of the trials. Bioservices which is the fast growing segment in the industry, has got majority of share from clinical trials and this report will be useful to all the companies engaged in biotech services. It will also be helpful to Doctors (Investigators), the sponsors of the trials and the drug companies. Students who are crystallizing their plan to do future research on clinical trials will certainly be benefited out of this report. For public and private institutions forming a niche in the trials can use this report as a ready-reckoner and a source of latest information.
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