According to our latest research report, “Booming Clinical Trials Market in India”, the spending of pharma companies in CDM runs into millions of dollars. Typically, data management costs account for 20-35% of the total cost of a clinical trial. As CDM is highly technology-driven and needs the use of IT systems; hence, pharma companies outsource it to BPOs and IT companies and India, with its huge clinical and medical talent, which is increasingly looked at as ‘the’ strategy off-shoring destination for services related to clinical research.
Our study indicates that there are over 70 companies in India offering services in this niche area, which include CROs, clinical trial organizations, IT services companies, and hospitals.
Besides, we have done extensive research and prudent analysis of the Indian clinical trial market in order to understand the factors that will continue to serve as growth driver for the market over the forecasted period (2011-2013). We have identified that India has managed to position itself as one of the leading destinations for clinical trials over the past few years. The availability of world-class healthcare infrastructure, skilled medical professionals, and cost-effective treatments for patients and volunteers are some of the main factors driving growth in this industry. The market is expected to perform well in future also and will reach US$ 768 Million by 2013, registering a CAGR of 29% since 2009.
Our report, “Booming Clinical Trials Market in India” provides an extensive research and rational analysis along with reliable statistics of the Indian clinical trial market. It studies the emerging market trends, recent developments and their impact on the market. Besides, the report also provides complete details of the cost involved in various phases of clinical trials in the country. In addition, an in-depth analysis of the patient pool availability in India along with infrastructure and expertise has also been elucidated in the report. The report also reveals about the contribution of the government regulations in the growth of the country’s clinical trial industry. Further, the report has also identified risk factors that can affect the future growth of the industry. Competitive landscape is also covered in the report to enable clients understand future market structure and growth potential.
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Article By: Shushmul Maheshwari