Thursday, July 17, 2008

India is becoming a hub for clinical trials

by Jenny Hodge

The Associated Chambers of Commerce and Industry of India (ASSOCHAM), predicts that India is becoming a hub for clinical trials, and currently captures 15% market share of total global clinical trials.

According to Assocham estimates, the size of clinical trials in India is expected to grow to an extent of US$ 546 million by 2010 from current levels of less than US$ 150 million.

The ASSOCHAM feels that the global clinical trials industry is currently worth $ 10 billion and has a large potential growth for the future since global revenues from clinical trials have increased by 12-14% in last few years.

In future, this growth will exceed 20% from 2010 onwards.

Releasing findings of ASSOCHAM on Domestic Clinical Trials Business, its President, Mr. Sajjan Jindal, aid that between 1996 and 2000 the USA outsourced 4230 clinical trials, of which 1 came to India, whereas during 2001 to 2005, USA outsourced 12022 trials, of which India bagged 192 orders.

As of 2006 and 2007, there were over 1500 sites that conducted clinical trials.

Out of these, about 300 were registered with FDA (Food Drugs Administration of USA).

That shows how the business of clinical trials and its outsourcing is growing.

It also shows the lead India has taken and what it is poised for in the future.

Source : http://www.assocham.org/prels/shownews.php?id=1602

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