India CRO Market Information, by Services Type (Clinical trials, Product Development, Process Development, Post-Marketing Surveillance, Quality Monitoring and Others); by Therapeutic Application (Oncology, Cardiovascular, Neurology, Nephrology and Urology, and Others) and by End Users (Pharmaceutical/biopharmaceutical Companies, Medical devices Companies and Academic Institutes) - Forecast till 2027
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Market Synopsis of India CRO Market:
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
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.
Taking all factors into consideration, we expect the India CRO market to reach around $1973.82 million from $1000 million in 2016, by the end of the forecast period at a CAGR of ~12.00%.
Study Objectives India CRO Market:
To provide detail analysis of the market structure along with forecast for the next 6 years of the various segments and sub-segments of the Indian CRO market
To provide insights about factors affecting the market growth
To analyze the market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
To provide historical and forecast revenue of the market segments and sub-segments for India CRO market
To provide country level analysis of the market with respect to the current market size and future prospective
To provide country level analysis of the market for segments by service type, by therapeutic applications, by end users and other sub segments.
To provide overview of key players and their strategic profiling in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments globally.
Key Players for India CRO Market:
Some of the key players in this market are: 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 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 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.
Contract Research Organizations
Medical Devices Suppliers
Private Research Laboratories
Research and Development (RD) Companies
Market Research and Consulting Service Providers
Government Research Laboratories
Contract Manufacturing Organizations
The report for India CRO Market of Market Research Future comprises extensive primary research along with the detail analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides detail information and strategies of the top key players in the industry. The report also gives a broad study of the different markets segments and regions.
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