India CRO Market Global Trends, Share, Market Size, Growth, Opportunities, and Market Forecast to 2027
Research Reports
May 25, 2022
Market Overview
Between 2017 and 2020, the India CRO Market grew at a CAGR of 5.51 percent in value terms and is expected to reach USD 956.8 million by 2020. With only a CAGR of 10.75 percent throughout the forecast period, the industry is expected to expand to USD 1,883.0 million by 2027. The fast-developing oncology studies sector, the booming pharmaceutical industry, plus Indian government activities are all contributing to the expansion of the Indian CRO market.
A Contract Research Organization, or CRO, is a corporation that is hired to handle another company’s clinical trials, post-marketing surveillance, complex medical validation activities, process development, product development, and quality monitoring. Pharmacovigilance management is also provided by CRO. CROs are outsourcing organizations contracted as independent contractors by a sponsoring company to lead clinical trials and provide other research support services. Pharmaceutical, biotechnology, as well as medical device firms, as well as government organizations, foundations, as well as universities, are typical clients of CROs. CROs are hired by organizations to provide safe and efficient trials without the need to hire permanent staff. A CRO could be a major research organization with a wide range of study methods or a tiny niche specialty company that conducts trials for pharmaceutical companies without the need for handling the trials.
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Market Segmentation
The India CRO market is divided into four categories: therapeutics, services, end-users, and geographies. During the forecast period, the worldwide India CRO market is projected to expand at a healthy rate.
By Application
The India CRO market is divided into cardiology cancer, neurology, cardiology, nephrology as well as urology, and many others, depending on the application.
By end-users
The India CRO market is divided into pharmaceutical/biopharmaceutical enterprises, medical device firms, and academic institutes based on propulsion kinds.
Regional Classification
The global India CRO market is divided into four regions, as per the reports: North India, West India, East India, and South India. The Indian healthcare system is divided into numerous regions and states. The Indian CRO industry is dominated by the nation’s south and west. CRO businesses in India, on the other hand, have recently shifted to the north. The Director Controller General of India (DCGI) office, the Directorate General of Foreign Trade (DGFT), the Indian Council of Medical Research (ICMR), and the Department of Biotechnology (DBT), among others, have all consolidated regulatory jurisdiction. North India also offers a more diverse genetic pool and lower costs.
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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, and PAREXEL International Corporation
Industry News
The acceptance of international rules and intellectual property rights, and the prevalence of varied India CRO climate testing conditions, are major drivers pushing the sector. Other variables that aid the market’s achievement of its goal over the forecast period also include the availability of a large pool of patients and a large number of hospitals, skilled as well as ready human resources, and cheap operating prices because of low human resources expenses.
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