BANGALORE: By 2020, India will be among the top five countries for clinical research. At a media workshop on clinical research on Thursday, Indian Society for Clinical Research (ISCR) member Arun Bhatt said it is one of the fastest growing sectors.
“Currently, India ranks 14 in the clinical research market, but will soon be among the top. It’s the next big thing in India. Other leading Asian countries are China and Korea,” he said. According to ISCR, the economic slowdown affected the industry in the initial four months. “The industry has picked up over the past nine months,” he added.
However, India’s contribution to global clinical research is only two-and-a-half-per cent.
On an average, drug development takes 15 years and the cost of any drug development cost $800 million; 60% is spent on research and development.
ISCR members said rules and guidelines for conducting clinical research in India are more stringent than any other country. “But they are not implemented effectively,” Bhatt said.
Source : Times Of India.
Update : I think, IVR for clinical trial system should see a good usage in India!