India CRO Market Research Report- Forecast to 2030

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 2030

ID: MRFR/Pharma/2151-HCR | December 2022 | Region: Global | 70 Pages         

India CRO Market

India CRO Market is expected to register a CAGR of 7.50% and was valued at USD 979.8 Million.

Segmentation

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
By End Users Pharmaceutical/biopharmaceutical Companies Medical devices Companies and Academic Institutes

Key Players

  • uintiles 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

Drivers

  • International guidelines and intellectual property rights
  • Availability of largest pool of patients and large hospitals
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India CRO Market Overview


India CRO Market is expected to reach USD 979.8 Million by 2030 at 7.50% CAGR during the forecast period 2022-2030. 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



  •         Drivers


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.



  •         Opportunities


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.



  •         Restraints


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.



  •         Challenges


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 Share by End Users, 2017 (%):


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.


By Application


Based on the application, the India CRO market is segmented into cardiology cancer, cardiology, neurology, nephrology and urology, and others.


By end-users


Based on the propulsion types, the India CRO market is segmented into pharmaceutical/biopharmaceutical businesses, medical device businesses, and academic institutes.


Regional Analysis


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.


Competitive landscape


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



  •         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

  •         PAREXEL International Corporation


Report Overview


The following report comprises of –



  •         Market overview 

  •         Covid 19 Analysis

  •         Market Dynamic

  •         Drivers

  •         Opportunities

  •         Restraints 

  •         Challenges

  •         Cumulative Growth Analysis

  •         Value Chain Analysis

  •         Segmentation Overview 

  •         By Application 

  •         By End-Users

  •         Regional Analysis

  •         Competitive landscape


Recent Developments



  •         Asian Clinical Trials has partnered with VPSCRO, a Chinese firm, to provide clinical trial services in India and China.

  •         Veeda Clinical Research has created the Global Oncological CRO, which will give services to biopharmaceutical companies.


Segmentation


By Services Type


  •         Clinical trials

  •         Product Development

  •         Process Development

  •         Post-Marketing Surveillance

  •         Ø  Quality Monitoring

  •         Others


By Therapeutic Application


  •         Oncology

  •         Cardiovascular

  •         Neurology

  •         Nephrology and Urology

  •         Others


By End Users


  •         Pharmaceutical/biopharmaceutical Companies

  •         Medical devices Companies

  •         Academic Institutes


By Region


  •         North India

  •         East India

  •         West India

  •         South India



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 979.8 Million
  CAGR   7.50%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  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

  • International guidelines and intellectual property rights
  • Educated and accessible human resource in India
  • Availability of largest pool of patients and large hospitals


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    Frequently Asked Questions (FAQ) :

    The India CRO market is projected to grow at a 7.50% CAGR between 2022-2030.

    The India CRO market is predicted to touch USD 979.8 Million by 2030.

    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.