Over the past few years, Indian Clinical research (CR) organization has garnered bulk of the outsourced clinical research revenue share of the pharma market globally. Till 1990, India was not the preferred destination for major global pharmaceutical companies, even though some of them were conducting clinical trials here.
Clinical Research (CR) organization is one that manages a research or an investigation to assess and/or verify the clinical, pharmacological or other pharmacodynamics effects, safety and/or efficacy, and adverse reactions of an investigational product. Clinical Research (CR) organizations were primarily organized as outsourcing service companies that provided only clinical trial management. However, in recent times, most of them have expanded their scope of services to provide comprehensive management of complex drug trial processes for their client companies as well as to facilitate access to vast areas of expertise, which many not exist in the client’s internal organization.
In the last 10 years however, there has been a steep rise in the global demand for world-class clinical trial management capacity and productivity.
With the average R&D expenditure growing at more than 15% per year, biopharmaceutical majors worldwide are realizing that the time-consuming and expensive affair of drug discovery and development can be done easier and better in India, given its rich technical resource pool, the relative ease and attractive economics of recruiting large number of patients and the sheer diversity inherent in the country’s genetic texture.
The international biopharmaceutical sector now finds India’s pool of highly skilled doctor’s trained medical personnel, investigators, and the support research infrastructure to be highly attractive and as a result, large numbers of international companies are now viewing India as a potential center of knowledge, skills and resources, and are hoping to derive expertise-based synergies from Indian partners.
The global clinical trials market is expected to be worth USD 16 billion by 2008, up from USD 10 billion in 2005 and is growing at 15-18%. The clinical research industry in India touched USD140 million in 2006, up from USD70-80 million in 2001-02 and has been estimated to touch USD200 million by 2007 and USD500-600m by 2010.
Clinical Research (CR) organization is one that manages a research or an investigation to assess and/or verify the clinical, pharmacological or other pharmacodynamics effects, safety and/or efficacy, and adverse reactions of an investigational product. Clinical Research (CR) organizations were primarily organized as outsourcing service companies that provided only clinical trial management. However, in recent times, most of them have expanded their scope of services to provide comprehensive management of complex drug trial processes for their client companies as well as to facilitate access to vast areas of expertise, which many not exist in the client’s internal organization.
In the last 10 years however, there has been a steep rise in the global demand for world-class clinical trial management capacity and productivity.
With the average R&D expenditure growing at more than 15% per year, biopharmaceutical majors worldwide are realizing that the time-consuming and expensive affair of drug discovery and development can be done easier and better in India, given its rich technical resource pool, the relative ease and attractive economics of recruiting large number of patients and the sheer diversity inherent in the country’s genetic texture.
The international biopharmaceutical sector now finds India’s pool of highly skilled doctor’s trained medical personnel, investigators, and the support research infrastructure to be highly attractive and as a result, large numbers of international companies are now viewing India as a potential center of knowledge, skills and resources, and are hoping to derive expertise-based synergies from Indian partners.
The global clinical trials market is expected to be worth USD 16 billion by 2008, up from USD 10 billion in 2005 and is growing at 15-18%. The clinical research industry in India touched USD140 million in 2006, up from USD70-80 million in 2001-02 and has been estimated to touch USD200 million by 2007 and USD500-600m by 2010.
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