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
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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) offers outsourced services to support R&D functions for pharmaceutical, biotechnology, and health companies. The CRO’s service ranges from different research and development activities such as drug discovery, pre-clinical (pre-human in-vitro and in-vivo animal research model) and clinical (in-human) testing. Moreover, the contract research organizations have gained importance in the recent years due to the development of biotechnology and pharmaceutical sectors.
India has rapidly become one of the preferred destinations for clinical trials owing to its large heterogeneous patient pool, rapidly transforming healthcare market, highly educated physicians and cost competitiveness propels the market growth. In addition, increased investment from foreign companies as well as local market players either individually or in collaboration is likely to boost the market growth during the forecast period. Further, emerging research areas such as diagnostic research are expected to fuel the India CRO market.
The India CRO market restraints are rising concern for security especially data security and patient security in clinical trials, lack of collaboration between universities and industry. Further, the compromises done by some India CROs on ethical and technical standards are the major market threat.
The India CRO Market growth is expected to flourish at a CAGR of 12.0% to reach around $1973.82 million from $1000 million in 2016 by the end of forecast period.
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.
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.
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Detailed Table of Contents:
1 Introduction
1.1 Definition
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
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
3.5 Macroeconomic Indicators
List Of Tables
Table 1 India Cro Market, 2013-2022 (Usd Million)
Table 2 India Cro Market, By Service Type, 2013-2022 (Usd Million)
Table 3 India Cro Market, By Therapeutic Application, 2013-2022 (Usd Million)
Table 4 India Cro Market, By End User, 2013-2022 (Usd Million)
Table 5 India Cro Market, By Region, 2013-2022 (Usd Million)
List Of Figures
Figure 1 Research Process
Figure 2 Porters Five Forces Model
Figure 3 India Cro Market, By Service Type
Figure 4 India Cro Market, By Therapeutic Application
Figure 5 India Cro Market, By End User
Figure 6 India Cro Market, By Region
Figure 7 India Cro Market: Company Share Analysis, 2016 (%)
…Continued
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