CROC-P

Scopes and Opportunities

     Clinical research is a multinational, multi-billion and multidisciplinary industry. Clinical research is all set to become the next big thing in India. Indian pharmaceutical industry is one of the fastest growing sectors of the Indian economy and has made rapid strides over the years. From being import dependent in the 1950s, the industry has achieved self-sufficiency and gained global recognition as a producer of low cost, high quality bulk drugs and formulations. According to industry reports, India is the second largest pharmaceutical market in Asia growing by more than 9% annually.

A number of factors favor India as a clinical research hub:
    Firstly, there are numerous government-funded medical and pharmaceutical institutions with state-of-the-art facilities, which can serve as ideal centers for multi-centered clinical trials.
     Secondly, India boasts of well-trained and qualified manpower, well versed in English. The research and the development process in India can be done at a more affordable price. More importantly, there is vast clinical material, which can be utilized, due to the prevalence of a large variety of diseases, including widespread cases of cancer and diabetes, India is viewed the world over as the ideal location for clinical research trials for the pharmaceutical industry.

Lucrative job opportunities

     It is certain that in future as the number of clinical projects expands, there will be demand for qualified personnel. According to a McKinsey report, the global clinical trial outsourcing opportunity in India in the pharmaceutical industry is estimated to be around $2 billion by 2010 and there will be requirement of 50,000 clinical research professionals. Trained pharmacists and clinicians can plug this wide gap. They will be involved in the various aspects of clinical research starting from site-monitoring, site-management, clinical data management, data analysis, report writing, report submission, presentation and publication.

     In the field of clinical research, there is an imbalance between demand and supply with the scales tipping in favour of demand. Thus, pharmaceutical houses are hunting for trained professionals and are using bulky pay packages to lure them.

     Moreover, India being a land of diversity where Ayurveda, Unani, Siddha, and Homeopathy are practiced with the same fervour as allopathy, clinical studies for evaluation of various alternate systems of medicine can also be conducted with ease. Owing to this myriad of factors, India is attracting collaborative contract proposals for conducting clinical trials and many entrepreneurs have already come forward to set up their Clinical Research Organisations (CRO).