Adapting technology and tools to address the issues of increasing research and development (R&D) costs, slow results, lack of funding, regulatory requirements, multiple databases, and shortage of qualified investigators and patient recruitment will define the new trends in the coming year. In fact, Icon has already made some great progress in this area.

Icon's technology offerings, in particular Iconik and Firecrest, are leading the market and are driving efficiencies to improve trial data quality and maximise operational resources to allow ICON to continuously meet and exceed sponsor expectations.

With the introduction of new guidelines from India's Central Drugs Standard Control Organization, the industry is undergoing a dramatic change. As we get better clarity on the new regulations and its implementation we expect to see improvements in conducting clinical trials.

In the recent past we have also witnessed a consolidation of the CRO business through various acquisitions and mergers that will go a long way in reinforcing the clinical research industry in India.

Driven by advances in science and technology, the clinical development industry has immense potential for future growth. India is fast becoming a hub for global clinical trials and we hope to see the trend continue in the coming years.