Currently valued at US$100 million, India's clinical research industry is doubling each year, showing the momentum shift of the pharmaceutical outsourcing industry in Asia.
To counter rising R&D costs, industry players are looking towards outsourcing to low-cost developing countries. In addition, they are finding ways to launch their products in a faster and more cost-effective manner.
If there is something that keeps industry players interested in India, it has to be her large pool of patient population, English-speaking scientific and healthcare professionals, adequate healthcare facilities and lower costs of conducting trials. In addition, the country is now improving in areas of intellectual property laws and research standards to meet international levels.
The Indian Government has also amended the Schedule Y of Drugs and Cosmetics Rules of India 1945, which clarifies the environment for clinical research.
According to a consolidated report by US pharmaceutical consulting firm Proximare, companies such as Pfizer and AstraZeneca have moved rapidly into India's clinical research industry. Leading CROs such as Quintiles have also set up operations in the country.
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