Business Synopsis of India CRO Industry:
A Contract Research Organization (CRO) provides support to the pharmaceutical, biotechnology, and medical device industries for specific services on a contract basis. The services may be clinical research, product development such as drug development or process development such as bio analytical assay development. A CRO may also provide management services such as clinical trials management and pharmacovigilance.
India is Emerging as a Top Destination for Contract Research Organizations for the Following Reasons
India’s acceptance of International guidelines and intellectual property rights
Presence of diverse types of climatic conditions thus allowing stability studies to be performed with ease in one destination
Educated and accessible human resource in India
Presence of diverse ethnic pool thus enabling diverse sample for clinical trials
Low operational cost due to cheap human resource
Availability of largest pool of patients and large hospitals
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The other factors favoring the market are efforts by the regulatory authorities such as Director Controller General of India (DCGI), Indian Council of Medical Research (ICMR), Directorate General of Foreign Trade (DGFT), Department of Biotechnology (DBT) to create an amenable climate for research in India.
The market constraints are growing concern for security especially data security and patient security, lack of collaboration between universities and industry etc. The compromises done by some Indian CROs on ethical and technical standards are the greatest market threat.
India CRO Market Segments:
India CRO Market has been segmented on the basis of service types which comprises clinical trials, product development, process development, post-marketing surveillance, quality monitoring and others. On the basis of therapeutic application; market is segmented into oncology, cardiovascular, neurology, nephrology and urology, and others. On the basis of end users; market is segmented into pharmaceutical/biopharmaceutical companies, medical devices companies and academic institutes.
Key Players for India CRO Market:
Quintiles IMS Holdings, Inc., Pharmaceutical Product Development, Siro Clinpharm, GVK Bio, Clininvent, CliniRX Tangent Research, Ecron Acunova, Ace Biomed Pvt. Ltd., Actimus Biosciences Pvt. Ltd., Alkem Laboratories Ltd., Actis Biologics Pvt Ltd. and others.
Regional Analysis of India CRO Market:
The healthcare sector of India is divided between differential geographic regions and states. The South India and western India account for a major share of the Indian CRO market. However of late the CRO industry is shifting to the North. The reasons for this shift is the concentration of regulatory authority such as Director Controller General of India (DCGI) office, Indian Council of Medical Research (ICMR), Directorate General of Foreign Trade (DGFT), Department of Biotechnology (DBT) etc. Also the costs are lower in North India and the genetic pool is more diverse.
Major India CRO Market Research Report- Forecast to 2023:
1.2 Scope Of Study
1.3 Research Objective
1.4 Assumptions & Limitations
1.5 Market Structure:
2 Research Methodology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3 Market Dynamics
3.5 Macroeconomic Indicators
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