This article was contributed by PharmARCians, and was first
published in www.pharmabiz.com.
BANGALORE, March 29, 2007- The Indian clinical research market is entering a
pivotal period of change. Today, many major pharmaceutical companies are
conducting clinical trials in India. Though the Indian clinical research market
is still in the nascent stage, some feel that the hype over India emerging as a
major player for conducting clinical trials is still a hype rather than
reality.
In 2005, India's clinical research outsourcing market has grown up to $70.5
million. Industry insiders expect that India's clinical research market will
grow further in the coming years; some even claim that the pace of the growth
in the next five years will accelerate compared to that of the last five years.
One of the estimations predicts that India's share of global clinical trials to
rise to 5% by 2008 and 15% by 2011.
In this scenario, India presents the most immediate opportunity with the
potential benefit in the shortest possible time addressing the most pressing
issue for any pharmaceutical company, i.e. cost, quality and speed in clinical
trials However, recently, a debate has emerged about the clinical research
market in India: Is the 'India Advantage' a hype or reality? This can be
addressed by understanding the drivers and barriers of the Indian clinical
research market.
Drivers of the clinical research market:
1. Volume is one of the key reasons for conducting clinical research in India
2. An increasing number of English-speaking and GCP (Good Clinical Practice)
trained investigators
3. The new patent regime of 2005 providing a higher level of comfort for doing
clinical research in India
4. Communication/IT infrastructure in India are on par with the global
standards
5. An increasing number of domestic accredited labs Barriers
6. High illiteracy rates in most parts of the country
7. Ethical practices are questioned; there is strong criticism that Indian
patients are being treated like guinea pigs
8. Hidden costs: Majority of the Indian population does not have health
insurance; costs that are normally covered by insurance companies in the
Western countries have to be covered by sponsors in India
9. Bureaucratic and Regulatory delays hampering the clinical trial process
10. Lack of basic infrastructure
11. Quality investigators being the same for most of the CROs which leads to
frequent rise in remunerations
Hype or Reality?
Considering the current scenario, there are gaps that still need to be
addressed for the 'hype' to get transformed into a 'reality'. For bridging this
gap, a number of measures need to be initiated collaboratively by various
stakeholders including the government.
Though the current trend shows a lot of positives, the Indian clinical research
industry is still in the nascent stage. The Indian clinical research market has
to quickly come out of the 'euphoria' by eliminating the barriers within the
shortest possible time and also strengthen its drivers to become a real
potential player in the global clinical research market in the years to come.
About PharmARC:
PharmARC provides sales and marketing analytics, and business consulting
services to the global pharmaceutical and healthcare industries. The PharmARC
team comprises over 250 highly qualified analysts including domain experts,
technical analysts, statisticians, physicians, and software engineers.
Today, PharmARC's client list includes over 50 major healthcare companies in
the world, of which 15 figure among the Top 20 global pharmaceutical players.
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Media Contact:
Amrita Gupta
amrita.gupta@pharmarc.com
+91-80-4018 2700
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