India CRO Market Overview
The India CRO market was valued USD 1,552.92 million in 2017 and predicted to present a strong CAGR of around 12.10% all over the assessment time, says Market Research Future (MRFR). A contract research organization (CRO) is a company that provides clinical trial services for pharmaceutical, biotechnology, and healthcare companies. Post-marketing surveillance, product & process development, clinical research, quality monitoring, and other services come under the offerings of CRO. They also offer pharmacovigilance management and clinical trial services.
The CRO market for India has recorded praiseworthy growth in recent times. The growth of the India CRO market is primarily attributed to the implementation of global norms and intelligent property claims. Furthermore, numerous India CRO climatic testing conditions are also anticipated to boost the market’s growth over the coming years. On the other hand, the increasing tension on market players to obey stringent schedules and the growing expense of medication research is anticipated to impede the growth of the India CRO market.
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India CRO Market Segment Analysis
The CRO market for India has been categorized into various segments based on service type, therapeutic type, region, and end-users.
Based on application, the CRO market for India is split into cancer, cardiology, nephrology & urology, cardiology, neurology, and others.
The India CRO market is divided into pharmaceutical/biopharmaceutical businesses, medical device businesses, and academic institutes based on end-users.
India CRO Market Regional Analysis
The Indian CRO market is examined across four main regions: North India, East India, South India, and West India.
The healthcare field in India is split into numerous geographical areas and states. Southern and Western India accounts for a significant share of the total revenues of the Indian CRO market. On the other hand, the leading market players in the Indian CRO market have relocated their businesses to the country’s Northern region. The major aspect boosting the growth is the amalgamation of regulatory power, such as the Department of Biotechnology (DBT), the Director Controller General of India (DCGI) office, the Indian Council of Medical Research (ICMR), and the Directorate General of Foreign Trade (DGFT) among others. Moreover, North India has expanded the genetic pool and offers services at cheaper expenses, which is likely to catalyze the region’s growth.
India CRO Market Competitive Analysis
The India CRO market has a solid and viable landscape. The players are concentrating on the launch of innovative therapies and treatments across the market. The market leaders are focusing on developing their global market footprint by implementing several growth policies. The listing of top players in the India CRO market includes PAREXEL International Corporation, Clininvent Research Pvt. Ltd., Synapse Labs Pvt Limited, Piramal Pharma Solutions, Eurofins Scientific, Siro Clinpharm, Laurus Labs, Bilcare Limited, VIMTA, Pharmaceutical Product Development, LLC., Syngene, Neuland Laboratories Ltd, Quintiles IMS Holdings, Inc, Aizant Drug Research Solutions Private Limited, and many others.
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November 2021 – a global full-service CRO devoted to encouraging the advancement of public health and biopharmaceutical innovation, Emmes, has announced a collaboration with MedGenome focused on boosting ground-breaking treatments supported by human genomics for rare disease patients. Dr. Christine Dingivan, the Emmes Chief Executive Officer, has said that the deal is a thrilling opportunity to join forces with the protruding genetic testing laboratory all over Asia to utilize the company’s mutual proficiency to aid fetch faster and more advanced treatments to patients worldwide going through rare diseases and looking forward to get new therapies.
July 2021- a full-service CRO, Veeda Clinical Research Ltd, has announced the acquisition of a controlling 50.1% stake in Bioneeds India Pvt Ltd, post the acquisition of a substantial minority stake earlier in March.
February 2022- A world-leading supplier of zero-emission mobility solutions, Hexagon Purushas, was awarded its first orders for Type 4 high-pressure hydrogen cylinders from largest private sector company across India, Reliance Industries Limited. The hydrogen cylinders will be used as samples in pilot projects for backup power and automotive solutions and signify Hexagon Purus’ first-ever hydrogen application orders in India.
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