India CRO Market 2018: New Investment Opportunities Emerge with Expanding CAGR of 12.00% to Widen Segments in Healthcare Industry by 2023

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Pune, India -- (SBWIRE) -- 08/30/2018 -- Market Synopsis of India CRO Market:

This study covers the market dynamics and trends in major countries that are expected to influence the current market scenario and future status of the India CRO Market over the forecast period. Considering all these factors the market for India CRO is expected to reach $ 1973.82 Million by the end of 2023, this market is projected to growing at a CAGR of 12% during 2017-2023.

A Contract Research Organization (CRO) provides support to the pharmaceutical, biotechnology, and medical device industries for specific services on a contract basis. The services may be clinical research, product development such as drug development or process development such as bio analytical assay development. A CRO may also provide management services such as clinical trials management and pharmacovigilance.
India is Emerging as a Top Destination for Contract Research Organizations for the Following Reasons

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India's acceptance of International guidelines and intellectual property rights

Presence of diverse types of climatic conditions thus allowing stability studies to be performed with ease in one destination

Educated and accessible human resource in India

Presence of diverse ethnic pool thus enabling diverse sample for clinical trials

Low operational cost due to cheap human resource

Availability of largest pool of patients and large hospitals

A Contract Research Organization (CRO) offers outsourced services to support R&D functions for pharmaceutical, biotechnology, and health companies. The CRO's service ranges from different research and development activities such as drug discovery, pre-clinical (pre-human in-vitro and in-vivo animal research model) and clinical (in-human) testing. Moreover, the contract research organizations have gained importance in the recent years due to the development of biotechnology and pharmaceutical sectors.

India has rapidly become one of the preferred destinations for clinical trials owing to its large heterogeneous patient pool, rapidly transforming healthcare market, highly educated physicians and cost competitiveness propels the market growth. In addition, increased investment from foreign companies as well as local market players either individually or in collaboration is likely to boost the market growth during the forecast period. Further, emerging research areas such as diagnostic research are expected to fuel the India CRO market.

The India CRO market restraints are rising concern for security especially data security and patient security in clinical trials, lack of collaboration between universities and industry. Further, the compromises done by some India CROs on ethical and technical standards are the major market threat.

Segments:

India CRO market has been segmented on the basis of service types which comprises clinical trials, product development, process development, post-marketing surveillance, quality monitoring and others. On the basis of therapeutic application; market is segmented into oncology, cardiovascular, neurology, nephrology and urology, and others. On the basis of end users; market is segmented into pharmaceutical/biopharmaceutical companies, medical devices companies and academic institutes.

Key Players for India CRO Market:

Quintiles IMS Holdings, Inc.
Pharmaceutical Product Development
Siro Clinpharm
GVK Bio
Clininvent
CliniRX Tangent Research
Ecron Acunova
Ace Biomed Pvt. Ltd.
Actimus Biosciences Pvt. Ltd.
Alkem Laboratories Ltd.
Actis Biologics Pvt Ltd.
Regional Analysis of India CRO Market:

The healthcare sector of India is divided between differential geographic regions and states. The South India and western India account for a major share of the Indian CRO market. However of late the CRO industry is shifting to the North. The reasons for this shift is the concentration of regulatory authority such as Director Controller General of India (DCGI) office, Indian Council of Medical Research (ICMR), Directorate General of Foreign Trade (DGFT), Department of Biotechnology (DBT) etc. Also the costs are lower in North India and the genetic pool is more diverse.
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Detailed Table of Contents:

1 Introduction

1.1 Definition

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

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

3.5 Macroeconomic Indicators

List Of Tables

Table 1 India Cro Market, 2013-2022 (Usd Million)

Table 2 India Cro Market, By Service Type, 2013-2022 (Usd Million)

Table 3 India Cro Market, By Therapeutic Application, 2013-2022 (Usd Million)

Table 4 India Cro Market, By End User, 2013-2022 (Usd Million)

Table 5 India Cro Market, By Region, 2013-2022 (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, 2016 (%)

...Continued

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