India Clinical Trials Market
About the Market
Based on indication, the global clinical trials market is classified as blood disorders, ophthalmology, autoimmune diseases, circulatory diseases, cancer, genitourinary diseases, congenital diseases, musculoskeletal diseases, central nervous system (CNS), infections, dermatology, metabolic disorders, cardiovascular system (CVS) diseases, gastrointestinal diseases, mental disorders etc. Being a relatively expensive process, many companies have outsourced their clinical trial activities to contract research organizations (CROs), which provide services such as clinical trial management, clinical research, and preclinical research. Factors such as advancement in technology and increasing demand for innovative solutions in the healthcare industry are driving the market of global clinical trials. On the other hand, factors such as high cost and stringent regulations are restraining market. The clinical trials market in the first world countries has seen major growth due to the rapid technological advancements and ample availability of funds. The developing countries demonstrate impressive potentials and are expected to record the highest growth rate. Countries such as India are attractive markets, due to the availability of skilled practitioners and government support in terms development of outsourcing hubs, thus attracting pharmaceutical and biotechnology companies to outsource clinical trial activities to CROs in this region. Some of the market leaders contributing to this market include Eli Lilly and Company, Novo Nordisk A/S, Ranbaxy Laboratories Ltd., Sanofi-Aventis A.S., and Roche Group.
About the Geography
India is the seventh largest country in the world and has the second highest population. It has a parliamentary democratic form of government and has abundant natural resources and sufficient oil reserves. The country has a huge skilled, English-speaking, and inexpensive labor force. Its young population and current economic policies have made it one of the largest recipients of FDI in the world.
Huge investment promises from different countries predict a bright future for India. It has a well-developed administration and an independent judicial system with an ever-growing consumer base. It has a huge pool of hard-working skilled workers in all fields. The government has set up tax and non-tax incentives to establish new industrial entities in specific sectors, which include energy, ports, highways, electronics, and software. The Make in India initiative was launched by the government in 2014 and received an excellent response from the developed nations. The government has also created special areas dedicated to export, called export-processing zones (EPZs) or special economic zones (SEZs), to encourage foreign investment. The strong financial sector and dynamic banking along with huge infrastructure development opportunities have made it one of the largest markets for manufactured goods and services. Due to its huge market and population, it has become one of the most competitive markets in the world. Conducting business in India has been difficult because of corruption, lack of infrastructure, and inadequate security.
GDP (USD billion)
GDP Annual Growth Rate
GDP Per Capita
Consumer Price Index (CPI)
Balance of Trade (USD billion)
Manufacturing PMI (Index Points)
52.1 Index Points
Ease of Doing Business
Consumer Spending (USD billion)
Bank Lending Rate (Consumers)
Corporate Tax Rate
Sales Tax Rate
The Market Entry Series
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