The clinical trial market in India looks very lucrative. The country promises to be one of the hottest destinations for conducting global clinical trials, owing to a huge patient pool representing both chronic and infectious diseases, easy recruitment of patients, and high cost savings. Moreover, the market is getting boost from improved IPR protection with changed rules and also from reduced taxes and duties.
According to our new research study on the sector called “Booming Clinical Trials Market in India”, the clinical trial outsourced market in India is forecasted to grow at a CAGR of around 31% during 2010-2012. Presently, the market is characterized by the dominance of phase III and phase II trials, which currently hold more than 80% of the market. This scenario is expected to remain intact in future as well. In terms of competitive landscape, the market is characterized by many small CROs, with certain companies like Syngene, Quintiles, Lambda therapeutics, Vimta labs doing better in comparison of the rest.
Our report has found that one of the biggest reasons attracting drug manufacturers and CROs to India is the country’s vast patient pool. The number of patients for chronic and infectious ailments in India surpasses that of nearly any other country. Moreover, clinical trials for drugs related to central nervous system and cancer have been mainly outsourced to India in recent years. Backed by this factor, the number of clinical studies in India is expected to grow at a CAGR of over 14% during the forecast period. In this regard, the report provides rational analysis of the factors which are supporting the forecast.
Our report provides extensive information on the clinical trial market in India, with detailed description of the regulatory environment and cost factors promoting the market. It also highlights several emerging market trends like clinical data management, pathology and diagnostic market, etc. The research study offers detailed statistical and analytical review on demographics, macroeconomic indicators, disease profile, clinical service market, key drivers and restraints. It contains all the requisite information that will help clients to draw up market strategies and assess opportunity areas in India’s clinical trial market.
