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NewswireTODAY - /newswire/ -
Delhi, New Delhi, India, 2006/12/04 - India is now the leader in contract research in pharmaceuticals. The value of this industry was valued above US$ 110 Million in the year 2005, and is increasing continuingly at a rate of about 25% every year..
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In its move towards cashing in on the need and increasing interest of pharma industry for conducting clinical research in India, DBT (Department of Biotechnology) in New Delhi announced to establish several clinical research training centers throughout the country.
Currently, India is ranked number one in contract research in pharma industry. As per Chemical Pharmaceutical Generic Association's recent report, contract research in the country was valued between US$100 Million and US$120 Million in the year 2005, representing a growth rate of about 25% year on year. Italy follows next at about US$60 Million-US$70 Million. The third competitor in Asia is China, which accounts for nearly US$23 Million-US$28 Million in this business.
According to studies conducted by various International Bodies, cost saving for an MNC (multinational company) moving Research & Development to India is currently around 30-50 percent. Many factors like lower wages, infrastructure e.g. equipment & IT support, and an abundant supply of treatment naive patients can remarkably accelerate clinical-trial patient recruitment times.
A Research Analyst at RNCOS, who has recently researched a report namely "World Pharmaceutical Market (2007) ", said that Pharmaceutical products' demand is increasing day after day and by conducting clinical research and further enhancing the product quality India will maintain a strong market of pharma products in world.
The research report on "World Pharmaceutical Market (2007)" also addresses the issues and facts that are critical to the success of Pharmaceutical industry on a Global level.
- The emerging trends in the Global Pharmaceutical sector
- The Key players in the Pharmaceutical market
- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive environment
- Key Challenges and Strategies
It further provides an extensive overview of Pharmaceutical industry on a worldwide level. The report provides authentic past and current performance data for the Pharmaceutical industry. It also looks closely at the various issues relevant to the Pharmaceutical industry.
About RNCOS
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