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Clinical Trial Market Sees a Positive Metamorphosis with the Country Being Viewed as a Drug Discovery Destination Says Frost & Sullivan - Frost & Sullivan to also host a Complimentary Analyst Briefing (Webinar) on Indian Clinical Research Organization Market on Wednesday, 22nd August 2012 at 3:30 pm. India Standard Time - Pharma.Frost.com
Clinical Trial Market Sees a Positive Metamorphosis with the Country Being Viewed as a Drug Discovery Destination Says Frost & Sullivan

 

PRZOOM - /newswire/ - Mumbai, India, 2012/08/17 - Frost & Sullivan to also host a Complimentary Analyst Briefing (Webinar) on Indian Clinical Research Organization Market on Wednesday, 22nd August 2012 at 3:30 pm. India Standard Time - Pharma.Frost.com.

   
 
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A large, easy-to-access, treatment-naive population; high degree of available cost arbitrage of up to 30-50 percent over U.S. and an improved regulatory environment is driving the Indian clinical research organization (CRO) market forward. The market is growing at a rate of 11-13 per cent as the country builds its track record and gains increasing favour as a base for global clinical trials (phase I-IV).
New analysis from Frost & Sullivan (pharma.frost.com), Strategic Analysis of the Clinical Research Organization Market in India, finds that the CRO market in India earned revenues of $485 million in 2010-11 and estimates this to cross $1.0 billion in 2016.

The participants operating in the Indian segment include multinational CROs that still dominate the nation's market, Indian CROs, multinational pharmaceutical companies, and Indian pharmaceutical companies. While the first three categories of companies are into global trials, Indian pharmaceutical companies usually look at conducting local trials.

"Therapeutic areas in which research can be conducted in India are varied, and this is likely to result in more number of studies in the country," said Frost & Sullivan Research Analyst. "Emerging areas, such as diagnostic research, are also expected to drive the India CRO market."

Market growth is further bolstered by the Indian Government’s (the Drug Controller General of India or DCGI) efforts to create a favourable environment for clinical trials. The improved regulatory environment possessing stringent enforcement laws will also bring more credibility to trials in India.

However, increasing competition, quality concerns and lack of quality infrastructure in smaller tier II sites are some factors that impede the growth rate of the CRO market.

"Reliability and consumer confidence in Indian clinical trials data is lacking, greatly impacting the CRO market," elaborated the analyst. "This is the result of a number of small-scale CROs having compromised on the standard of their studies in their bid to compete."

As more established CROs continue to grow, with reliable data and well-established clientele, the impact of this restraint is expected to diminish. The market will also be supported by India’s attractiveness as a small base with low costs, high-standard practices, and growing interest from multinationals to include the country as a preferred clinical trials site for their studies.

"Developing a single-window clearance for clinical trials as well as clear guidelines on the types of international/global trials that can be performed on the Indian population will shore up CRO market growth," noted the analyst. "Indian CROs should focus on developing a steep learning curve by collaborating with selected international CROs and merge their talents."

Overall, market participants need to balance regulatory issues, breadth of services and data quality with cost competitiveness, a bigger footprint and innovation to grow their market share.

If you wish to know more on this Market, the Pharma Practice at Frost & Sullivan, a Global Growth Partnership Company, will be hosting an Analyst Briefing (Webinar) on this research service on Wednesday, 22nd August 2012 at 3:30 pm. India Standard Time.

How will this work:
Click on the 'Register Here' tab, given above. This will direct you to the launch page of the Analyst Briefing. Press on the ‘Attend’ button; this will register you for the AB. Once you have saved the HTML page, click on it and save the event to your Calendar page.

If you are interested in a virtual brochure, which provides a brief synopsis of the research and a table of contents, then send an email to Caroline Lewis/ Akshata Mhatre, Corporate Communications, at caroline.lewis[.]frost.com / akshatam[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, a brochure will be sent to you by email.

Strategic Analysis of the Clinical Research Organization Market in India is part of the Pharmaceuticals & Biotechnology Growth Partnership Services program, which also includes research in the following markets: Strategic Analysis of Contract Research and Manufacturing Services Market in India, Strategic Analysis of Vaccine Market in India, Strategic Analysis of the GCC Pharmaceutical Market: An Overview and Outlook, among others. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

• The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
• The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us: Start the discussion | Join Us: Join our community | Subscribe: Newsletter on "the next big thing" | Register: Gain access to visionary innovation

Strategic Analysis of the Clinical Research Organization Market in India / P5E8-52

Contact:
Nimisha Iyer, Corporate Communications – South Asia, Middle East and North Africa
P: +91 98200 50519 - E: niyer[.]frost.com.

 
 
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Clinical Trial Market Sees a Positive Metamorphosis with the Country Being Viewed as a Drug Discovery Destination Says Frost & Sullivan

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Contact: Caroline Lewis / Akshata Mhatre 
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