Clinical Research market in India has flourished much more than before during the global Covid-19 pandemic. As the pandemic being life-threatening howled for the need to cure, health professionals and researchers tried their best to develop various types of medications. Some researchers found new treatments whereas some researchers found new effects of the previously found treatments. All these involved clinical researches and clinical trials before they were made available for the use of human beings. The demand for new medicines and treatments gave rapid but robust research delivery and also paved way for the world of clinical research to bloom to a great extent.
India has a huge population with varied genetic backgrounds of all kinds of castes and creeds, the highest number of skilled physicians, and is the hub of numerous life-threatening diseases. Along with the above mentioned, significant cost and resource advantage are also the reasons which bestow global medical practitioners and healthcare providers with opportunities to consider India as a favorable destination for clinical research and studies. In addition, India has well-trained manpower for clinical research and much experienced scientists which help in boosting the clinical research industry even more.
Reasons for blooming clinical research market in India
1. How huge Indian population and its variety of diseases pave way for clinical trials?
India is the 2nd most populous country consisting 18% of the total world population with 1/5th of the global burden of diseases ranging from tropical infections to degenerative diseases. It records the highest numbers of diabetic and cancer patients and about 30 million people of India are found to be suffering from cardiovascular diseases. It also records the highest maternal, neonatal, and child deaths in the world. Thus providing a large number of treatment naïve patients for the development of remedies against the wide range of disease conditions.
2. Diverse Indian talented pool
India has myriad talent pool along with large number of trained healthcare professionals like doctors, nurses, laboratory technicians, researchers and clinical practitioners. It also has a large number of well skilled information technology professionals related to clinical trials and highest number of English speaking physicians who carry out the clinical trials very efficiently.
3. India’s cost saving clinical trials
At present discovery research is seen to occupy almost one third of the research and development expenses for the pharmaceutical industry and grows financial and regulatory pressure in the western countries. So the outsourcing to low cost countries was preferable.
From 2007 to 2018, clinical trial registrations have raised in developing countries whereas, on the other hand, the number of trials registered in Western countries is seen to reduce. With time India has developed remarkable capabilities in clinical trials, project management and, data management. India provides 50-60% cost savings for clinical trials and as the expenses in the clinical research sector of India are quite less than the other countries it is explored by the global clinical research sector by elevated outsourcing clinical trials. In India, the cost of conducting a clinical trial is 1/10th of the cost in the USA. As soon as Indian advantages were globally recognized, it attracted many pharmaceutical companies to collaborate for outsourcing strategies of clinical trials. With relocation or outsourcing of the clinical trial processes of many pharmaceutical companies to India, research and development expenditure of the pharmaceutical industry has observed an exponential increase.
4. Transparent and fast Indian regulatory system
The rules and regulations of the clinical trials are amended from time to time by the regulatory system of India to facilitate the entry of global pharmaceutical companies. And the timeline set by the Indian regulatory bodies ensures the applications of the trial to be approved shortly. India has harmonized regulatory process with US and international standards. And also India has mandatory CTRI registration of clinical trials that makes the process transparent. In addition, the requirement of gaining a license from an ethical committee allows the research process to be conducted more transparently. In the past few years, India is seen to have very fast growth in clinical trials which signifies it to be the most attractive spot for clinical research.
All these factors lead to the blooming of the clinical research market in India and may continue to bloom with new discoveries more advancements in clinical trial techniques.