Clinical Research to become INR 10,000 Cr industry by 2010

Clinical Research in India is expected to grow to a INR 10,000 crore industry by 2010 spelling an opportunity of 50,000 jobs within India. The pharmaceutical industry in India was growing at the rate of 11 per cent and clinical research industry was growing at the rate of 84 per cent, Dr S M Sapatnekar, dean of Clinical Research Institute, told reporters here today while announcing the launch of its branch in the city. Investments by global drug companies have crossed INR 500 crore in 2005-06, he said. India has emerged as one of the most important hubs in south East Asia for clinical research due to its huge population base, high prevalence of disease, large pool of talent and cost advantage as compared to competitors. The regulatory norms here having become more favaourable and with India having caught up with international standards in terms of facilities well trained investigators and abundance of medical professionals well versed in English language as well as superior communication and IT network, nearly 50 percent of drug development process is being outsourced to India by giant multinationals. World over the Clinical Research industry has been growing at unprecedent rate while the clinical trial market worldwide is worth over US$ 52 billion. Around INR 70,000 crore is spent globally every year on clinical trials. Globally there are more than 250,000 vacant positions in this industry, he said.

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