The clinical trials market in Russia is one of the vibrant sectors in the pharmaceutical industry. The country has witnessed huge spending in drug research and development process during the past few years that has effectively broadened its attractiveness as one of the leading destinations for conducting clinical trials. Russia is offering a tough competition to other countries in the region in the clinical trials market. This statement can be substantiated by the fact that, a proliferation in the number of multinational sponsors and rise in investments has been observed.
The market, however, slipped into negative territory and the number of clinical trials was estimated to reach 500 in 2010, which was significantly less compared to the total of 577 in the previous year. The decline was mainly associated with the passage of new law ‘on circulation of medicine’ that affected the registration procedure of new clinical studies. However, such a downtrend is likely to offset in near future as the government is taking necessary steps to ensure that international players keep their interest high for conducting clinical trials in Russia.
The regulatory landscape with regards to clinical trials in Russia comprises issues that lead to an outcome achieved by ethical behaviour and safe practices. Patient safety gets a huge importance in this way, and that is the reason for an effective patient recruitment rate in clinical studies. The passage of law on circulation of medicines is the heated issue among all the market players and stakeholders. The law has come into effect on September 1, 2010, and is believed to improve federal regulation of clinical trials.
The report “Clinical Trials Market in Russia” is an outcome of an extensive research and in-depth analysis of the Russian clinical trials market. The report comprises all the important aspects and illustrations with respect to the market and covers trends that have a bearing on sector growth. The report also takes into account the impact of regulatory measures on the industry performance and broadly outlines the description of key market players. Overall, the report is likely to be a useful resource for all those clients, who want to make investment or gather an insight on the clinical trials market in Russia.