Updated on 10 August 2012
In the clinical research space, companies have been focusing mainly on five therapy areas: cancer, metabolic diseases, diabetes, cardiovascular diseases and central nervous system. According to clinicaltrials.gov (a service of the US National Institute of Health), India has closed 1,402 studies, with 230 studies having results and remaining 1,172 studies without results. India has 434 open global studies. India has about just over 2,000 investigators overseeing the clinical trials across the country. India needs to have an additional 20-30 percent investigators for speedy approval of the clinical trial applications.
With large CROs entering long-term contracts with pharmaceutical companies globally, market consolidation is on rise, leading to a more fierce competition among the mid-sized and small CROs for both resources as well as studies. The BioServices market which has registered CAGR of over 52 percent during mid 2000 has recorded CAGR of 15 percent in the last five years. It will maintain a growth rate of 15 percent in the coming year.
On the contract research side, the research services business will continue to grow as more big pharma companies close their research and look for small biotech companies with development candidates.