Business Synopsis of India CRO Market:
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
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.
Top 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.
India CRO Market Segmentation:
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.
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 are 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.
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