ID: MRFR/Pharma/2151-HCR | February 2021 | Region: Global | 70 pages
According to the latest research reports, the India CRO market size is predicted to reach around $986.9 Million from $500 Million in the year 2017, at a growth rate of ~12.00% CAGR, by the end of the forecast period. A contract research organization (CRO) provides services to pharmaceutical, biotechnology, and healthcare firms. Clinical research, product development and process development, post-marketing surveillance, quality monitoring, and other services are among those offered. CROs also provide clinical trial and pharmacovigilance management services. Recently, the Indian government eliminated several sections from clinical trial laws that required the sponsor to pay the patient's family for up to 60% of the sum in the event of death or permanent impairment during a clinical study. Aside from that, drug firms view India as a place for conducting local clinical trials and reaping extra benefits in marketing in Europe, the United Kingdom, the United States, Australia, and other countries after the medicine is authorized.
The presence of various India CRO climatic testing conditions, as well as the adoption of international norms and intellectual property rights, are significant drivers driving the industry. Other factors that help the market attain its objective throughout the projection period include the availability of a big pool of patients and a big number of hospitals, trained and available human resources, and low operating costs owing to inexpensive human resources. Regulatory agencies such as the Director Controller General of India (DCGI), the Indian Council of Medical Research (ICMR), and the Directorate General of Foreign Trade (DGFT) are working hard to provide favorable circumstances for research in India, which is helping to strengthen the industry. The efforts of regulatory authorities such as the Director Controller General of India (DCGI), Indian Council of Medical Research (ICMR), Directorate General of Foreign Trade (DGFT), and Department of Biotechnology (DBT) to create a conducive environment for research in India are also favorable to the market. Market limitations are causing increased worry about security, particularly data and patient security, as well as a lack of collaboration between academics and business.
This report contains all the information on the global India CRO market and the market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global India CRO market and forecast for 2023 is also included in the report.
Covid 19 Analysis of India CRO market
The continuing epidemic has had a tremendous influence on the india CRO market. The international effort on developing a coronavirus vaccine has had a considerable influence on the development of other vaccines and medicines. At the height of the epidemic, vaccines and therapies for COVID-19 accounted for 30% of all trials in the United States. As a result, further trials were placed on hold.
India CRO Market Dynamic
Due to its high vast diversified patient pool, fast-evolving healthcare industry, highly trained physicians, and cost competitiveness, India has quickly become one of the favored sites for clinical trials. Furthermore, increased investment from both international and domestic market players, either individually or collaboratively, is expected to drive market expansion throughout the projection period. Additionally, growing research fields such as diagnostic research are likely to drive the Indian CRO market growth.
The clinical trial market is primarily driven by rising demand for new solutions in the healthcare business, a collaboration between pharma-biotech-medical device firms and top CRO companies in India, and technological developments. The high need for clinical trials in growing countries, the pharmaceutical industry's high R&D investment, the increasing frequency of illnesses, and the focus on rare diseases and numerous orphan medicines in R&D have all been identified as major drivers driving market expansion.
Since 2013, India has seen a substantial regulatory shift in the field of clinical trials. Clinical trials are an essential component of innovation, and the government has been working to simplify the standards and procedures. The revised Drugs and Clinical Trials Rules, 2019, are a step in this direction, with the goal of promoting clinical research in the country through a more transparent and expedited licensing procedure.
The rising expense of medication research is likely to limit growth. Drugmakers and sponsors are under pressure to recover revenue lost due to generics, increasing patent expiration, the number of collaborations to find biologics, and rising R&D expenditures, which have made drug development more expensive and difficult. Furthermore, the increasing pressure on India CRO market participants to adhere to strict timetables has raised the desire for research operations to be outsourced.
CRO challenges are fundamentally the same regardless of geography; the two most significant challenges confronting the clinical research organization in India are very clearly regulatory bottlenecks, wherein the government needs to get its act together and create clear and time-bound guidelines for clinical trials and marketing approvals and authorizations. Second, the entire data and clinical trial quality, encompassing different elements such as GCP compliance, personnel training and development, patient retention, and awareness building, must be improved.
Cumulative Growth Analysis
Presently, more than 25 innovative treatments are available on the market, including Alofisel (2018), LUXTURNATM (2017), YESCARTATM (2017), and KymriahTM (2017). According to recent research, over 1000 clinical studies have been undertaken in the previous five years to evaluate the potential of these treatments. The oncology category has the greatest India CRO market share.
Value Chain Analysis
According to the reports, the global India CRO market is segmented on the basis of service type, therapeutic type, end-users, and regions. Clinical trials, product development, process development, post-marketing surveillance, quality monitoring, and other services have been segmented in the India CRO market. The market is divided into cancer, cardiology, neurology, nephrology and urology, and others, based on therapeutic application. The market is divided into pharmaceutical/biopharmaceutical businesses, medical device businesses, and academic institutes based on end-users.
Postmarketing surveillance refers to the monitoring of a drug's or medical device's safety after it has been released to the India CRO market. Drug manufacturers are responsible for the safety of human subjects from research risks, as well as the integrity of data provided by third-party suppliers. The list of preclinical CRO in India trials held the lion's share of India CRO market. CROs play a vital role in the treatment of different therapeutic illnesses such as oncology, cardiology, neurology, nephrology, and urology using cell and gene therapy. The India CRO market is divided into three segments based on end-users: pharmaceutical/biopharmaceutical companies, CRO companies in India, and academic institutes. Pharmaceutical/biopharmaceutical companies have the greatest India CRO market share.
India CRO market Segmentation Overview
The India CRO market is segmented on the basis of service type, therapeutic type, end-users, and regions. The global India CRO market is expected to witness decent growth during the forecast period.
Based on the application, the India CRO market is segmented into cardiology cancer, cardiology, neurology, nephrology and urology, and others.
Based on the propulsion types, the India CRO market is segmented into pharmaceutical/biopharmaceutical businesses, medical device businesses, and academic institutes.
According to the reports, on the basis of regions, the global India CRO market is segmented into North India, East India, West India, and south India. India's healthcare sector is split into several geographical areas and states. South and western India make up a sizable portion of the Indian CRO market. However, the CRO companies in India have recently shifted to the north. The reasons for this change include the consolidation of regulatory power, such as the Director Controller General of India (DCGI) office, the Indian Council of Medical Research (ICMR), the Directorate General of Foreign Trade (DGFT), and the Department of Biotechnology (DBT), among others. North India also has cheaper expenses and a more diversified genetic pool.
Secondary research was used to identify the market's main players, and primary and secondary research was used to determine India CRO market contributions in the respective regions. The whole process includes a review of the leading market participants' annual and financial reports, as well as thorough interviews with CRO industries in India experts such as CEOs, VPs, directors, and marketing executives to get crucial insights.
India CRO market Major Key Players
The following report comprises of –
By Services Type
By Therapeutic Application
by End Users
|Market Size||$986.9 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Services Type, Therapeutic Application, End Users|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Quintiles IMS Holdings, Inc., Syngene, Pharmaceutical Product Development, LLC., Siro Clinpharm, Clininvent Research Pvt. Ltd., VIMTA, Bilcare Limited, Aizant Drug Research Solutions Private Limited, Piramal Pharma Solutions, Synapse Labs Pvt Limited, Eurofins Scientific, Laurus Labs., Neuland Laboratories Ltd, and PAREXEL International Corporation|
|Key Market Opportunities||Mergers and Acquisitions|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The India CRO market is projected to grow at a 12% CAGR between 2013-2022.
The India CRO market is predicted to touch USD 986.9 million by 2022.
Western India and South India are predicted to lead the India CRO market.
Major applications of the India CRO Market include urology, nephrology, neurology, cardiovascular, and oncology.
Data and patient security issues may limit market growth.
Table of Contents
1.2 Scope of Study
1.3 Research Objective
1.4 Assumptions & Limitations
1.5 Market Structure:
2 Research Methodology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3 Market Dynamics
3.5 Macroeconomic Indicators
4 Market Factor Analysis
4.1 Porter’s five forces model
4.1.1 Bargaining Power of suppliers
4.1.2 Bargaining Power of Customer
4.1.3 Intensity of Competitor’s
4.1.4 Threat of New Entrants
5 India CRO Market, by Service Type
5.1.1 Clinical trials
5.1.2 Product Development
5.1.3 Process Development
5.1.4 Post-Marketing Surveillance
5.1.5 Quality Monitoring
6 India CRO Market, by Therapeutic Application
6.1.4 Nephrology and Urology
7 India CRO Market, by End User
7.1.1 Pharmaceutical/biopharmaceutical companies
7.1.3 Medical devices Companies
7.1.4 Academic Institutes
8 India CRO Market, by Country
8.2 North India
8.3 South India
8.4 East India
8.5 West India
8.6 Central India
9 Company Landscape
9.1.1 Mergers Acquisitions
9.1.3 Release/New Product Launches
9.1.4 Other (Expansion, Updates, Partnership)
10 Company Profile
10.1 Quintiles IMS Holdings, Inc.
10.1.1 Company Overview
10.1.2 Product/Business Segment Overview
10.1.4 Key Developments
10.1.5 SWOT Analysis
10.2 Syngene, Pharmaceutical Product Development, LLC
10.2.2 Product/Business Segment Overview
10.2.4 Key Developments
10.2.5 SWOT Analysis
10.3 Siro Clinpharm
10.3.2 Product/Business Segment Overview
10.3.4 Key Developments
10.3.5 SWOT Analysis
10.4 VIMTA, Bilcare Limited
10.4.2 Product/Business Segment Overview
10.4.4 Key Developments
10.4.5 SWOT Analysis
10.5 Aizant Drug Research Solutions Private Limited
10.5.2 Product/Business Segment Overview
10.5.4 Key Developments
10.5.5 SWOT Analysis
10.6 Piramal Pharma Solutions
10.6.2 Product/Business Segment Overview
10.6.4 Key Developments
10.6.5 SWOT Analysis
10.7 Synapse Labs Pvt Limited
10.7.2 Product/Business Segment Overview
10.7.4 Key Developments
10.7.5 SWOT Analysis
10.8 Eurofins Scientific
10.8.2 Product/Business Segment Overview
10.8.4 Key Developments
10.8.5 SWOT Analysis
10.9 Laurus Labs., Neuland Laboratories Ltd
10.9.2 Product/Business Segment Overview
10.9.4 Key Developments
10.9.5 SWOT Analysis
10.10 PAREXEL International Corporation
10.10.2 Product/Business Segment Overview
10.10.4 Key Developments
10.10.5 SWOT Analysis
List of Tables
TABLE 1 INDIA CRO MARKET, 2020-2027 (USD MILLION)
TABLE 2 INDIA CRO MARKET, BY SERVICE TYPE, 2020-2027 (USD MILLION)
TABLE 3 INDIA CRO MARKET, BY THERAPEUTIC APPLICATION, 2020-2027 (USD MILLION)
TABLE 4 INDIA CRO MARKET, BY END USER, 2020-2027 (USD MILLION)
TABLE 5 INDIA CRO MARKET, BY REGION, 2020-2027 (USD MILLION)
List of Figures
FIGURE 1 RESEARCH PROCESS
FIGURE 2 PORTERS FIVE FORCES MODEL
FIGURE 3 INDIA CRO MARKET, BY SERVICE TYPE
FIGURE 4 INDIA CRO MARKET, BY THERAPEUTIC APPLICATION
FIGURE 5 INDIA CRO MARKET, BY END USER
FIGURE 6 INDIA CRO MARKET, BY REGION
FIGURE 7 INDIA CRO MARKET: COMPANY SHARE ANALYSIS, 2020 (%)