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Cost efficiency for conducting clinical trials is fuelling its growth

Press release August 13, 2014 Clinical trials in India, India clinical trials,clinical trial India

Clinical Trials Market in India 2014 analyses how India is a potential global hub for conducting clinical trials by Indian as well as global pharmaceutical companies.

The role of clinical trials is fundamental for any innovation in pharmaceutical industry. Hence, a liberal regulatory environment is required to draw investors and organizations to create and commercialize improving technologies.

This report, Clinical Trials Market in India 2014, provides an overview of clinical trials phases being conducted in India. It also provides an analysis of the competitive landscape and detailed profiles of major players as well as the research organizations.

Market overview

The report analyzes why India is a potential global hub for clinical trials by Indian and global pharmaceutical companies. Clinical trials are conducted on humans to examine the efficacy and safety of new drugs, treatments, therapies and new medical devices before launching them in the market. It is a necessary and final step for the completion of the drug development process. The market is divided into four phases – Phase I, Phase II, Phase III and Phase IV. Contract Research Organizations (CROs) are responsible for designing, monitoring, and managing clinical trials. The market is dominated by private players and foreign pharmaceutical companies.

The clinical research market in India has comparative advantage in conducting clinical trials regarding cost efficiency and a vast population suffering from acute chronic diseases. Government regulations regarding the compensation rule and approval time are hampering the market at present, but the situation is expected to improve soon. Apart from the pharma companies, there are several research institutes involved in R&D of clinical trials. Increasing partnerships and changes in the regulatory environment are crucial future driving factors for this market.

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Clinical trials in India, India clinical trials,clinical trial India