Mainstay of Drug Discovery
Clinical trials industry has seen a phenomenal increase in last ten years or so, and India has emerged as one of the foremost global destinations for clinical trials. There is a huge volume of literature available from across the world and from within the country that has commented on the phenomenal growth of the clinical trials industry, especially in the developing world. Clinical research is all set to become the next big thing in India. A large population with a substantial workforce and cost benefits influence multinationals to set up research facilities here. Besides due to the prevalence of a large variety of diseases, including widespread cases of cancer and diabetes India is viewed the world over as the ideal location for clinical research trials for the pharmaceutical industry.
Clinical research is one of the mainstay parts of the drug discovery process that is carried out to ensure the efficacy and safety of the drug. Availability of study subjects, highly skilled healthcare professionals, cost effectiveness and timeliness are prerequisites of a successful clinical trial. Large patient pool is one of the reasons that put India up as one of the most favorable destinations for clinical trials. India constitutes about 18% of total world population with one fifth of the global burden of disease. It records highest toll on maternal, neonatal and child deaths in the world.
Another important factor that draws the attention of clinical trials industry towards India is cost competitiveness. The cost for conducting clinical trials in India is one tenth of the cost in the USA. With many pharmaceutical companies relocating or outsourcing the clinical trial processes to India, the research and development expenditure in pharmaceutical industry has witnessed an exponential increase. With this increase, the home grown companies offering clinical research have started to match pace with global standards. Today, India’s pharmaceutical market witness faster time-to-market. The time is ripe to expand and such firms have realized the same.
Do let us know what you think.
Clinical research is one of the mainstay parts of the drug discovery process that is carried out to ensure the efficacy and safety of the drug. Availability of study subjects, highly skilled healthcare professionals, cost effectiveness and timeliness are prerequisites of a successful clinical trial. Large patient pool is one of the reasons that put India up as one of the most favorable destinations for clinical trials. India constitutes about 18% of total world population with one fifth of the global burden of disease. It records highest toll on maternal, neonatal and child deaths in the world.
Another important factor that draws the attention of clinical trials industry towards India is cost competitiveness. The cost for conducting clinical trials in India is one tenth of the cost in the USA. With many pharmaceutical companies relocating or outsourcing the clinical trial processes to India, the research and development expenditure in pharmaceutical industry has witnessed an exponential increase. With this increase, the home grown companies offering clinical research have started to match pace with global standards. Today, India’s pharmaceutical market witness faster time-to-market. The time is ripe to expand and such firms have realized the same.
Do let us know what you think.
