Indian Clinical Trials Market Observe Significant Growth Of USD 3.88 Billion By 2030


 San Francisco, 6 June 2022: The Report Indian Clinical Trials Market Size, Share & Trends Analysis Report By Phase (Phase I, Phase II, Phase III, Phase IV), By Study Design (Interventional Trials, Observational Trials, Expanded Access Trials), By Indication, And Segment Forecasts, 2022 - 2030

The Indian clinical trials market size is expected to reach USD 3.88 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.2% from 2022 to 2030. The globalization of clinical trials, growing disease variation and prevalence in the country, adoption of new technology in clinical research, and increasing R&D promoting outsourcing are the key factors driving the market.

India is populated with 1.3 billion individuals with varying genetic backgrounds and a large treatment-naïve patient pool for the development of therapeutics on a range of disease conditions. Furthermore, the economic, environmental, and ecological variations in the 28 states and 8 union territories present the most diverse disease profile. Apart from this, the cost of carrying out clinical trials in India is nearly 40-70% less when compared to that in Europe or the U.S. Thus, the cost efficiency, along with skill sets and ease of doing business, is anticipated to fuel the market growth.

The increasing R&D investments by pharmaceutical and biopharmaceutical companies have led to increased demand for contract research organizations and outsourcing of trials in order to curb the cost. Furthermore, outsourcing enables the drug companies to focus on their core competencies and aids in improving their productivity, thus facilitating the outsourcing of trials in India. The COVID-19 pandemic has improved the market in the country. Several companies globally are conducting clinical trials for COVID-19 vaccines in India. Moreover, government initiatives promoting clinical trials for COVID-19 therapeutics in the country have promoted market growth.

Access Research Report of Indian Clinical Trials Market @ https://www.grandviewresearch.com/industry-analysis/india-clinical-trials-market

Indian Clinical Trials Market Report Highlights

  • By phase, the phase I segment is projected to register the fastest growth rate of 9.9% over the forecast period. This can be attributed to the increasing R&D spending by pharmaceutical and biopharmaceutical companies
  • The interventional trials study design segment held the largest revenue share of over 40.0% in 2021 owing to the greater accuracy offered by them as compared to observational study design
  • The oncology indication segment held the largest revenue share of over 20.0% in 2021 due to the increasing prevalence of the disease condition and the consequent rise in demand for innovative therapies for cancer

List of Key Players of Indian Clinical Trials Market

  • IIQVIA HOLDINGS INC.
  • PAREXEL International Corporation
  • Pharmaceutical Product Development, (PPD) LLC
  • Charles River Laboratory
  • ICON PLC
  • PRA Health Inc.
  • Chiltern International LTD.
  • Syneos Health Inc.
  • SGS SA
  • Syngene International Limited
  • Aurigene Discovery Technologies Limited
  • Aragen Life Sciences

Access Press Release of Indian Clinical Trials Market @ https://www.grandviewresearch.com/press-release/india-clinical-trials-market-analysis

 

Comments

Post a Comment

Popular posts from this blog

U.K. Point Of Sale Software Market To Expand Industry Growth At USD 1.05 Billion By 2028

Image
  San Francisco, 21 Jan 2022:   The Report  U.K. Point Of Sale Software Market  Size, Share & Trends Analysis Report By Application (Fixed POS, Mobile POS), By Deployment, By Organization Size, By End-user, And Segment Forecasts, 2021 - 2028 The global U.K. point of sale software market size is expected to reach USD 1.05 billion by 2028, expanding at a CAGR of 8.1% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The integration of a Point-Of-Sale (POS) solution with capabilities such as sales reports monitoring, cash flow recording, product demand analysis, tracking delivery status, and inventory management ensure systematic functioning and upscaling of a business. The adoption of POS software is directly impacted by the demand for POS terminals, which is witnessing growth in demand due to changing lifestyles and government policies. However, the COVID-19 pandemic disrupted the industry's business, wherein ...
Read more

Gas Detection Equipment Market Anticipated To Expand At A CAGR 9.7% From 2021 To 2028

  San Francisco, 5 May 2021:   The Report  Gas Detection Equipment Market  Size, Share & Trends Analysis Report By Product, By Technology (Infrared, Catalytic, PID), By End-use, By Region, And Segment Forecasts, 2021 - 2028 The global gas detection equipment market size is expected to reach USD 8.38 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 9.7% from 2021 to 2028. The market growth can be attributed to the growing awareness among governments regarding the harmful effects of greenhouse gases, coupled with their increased efforts toward protecting the environment. Major industries such as petroleum, oil, and gas, among others are needed to comply with safety and environmental regulations which are also major factors driving the market growth. Many companies are focused on introducing drone-based gas detection equipment, which is expected to create new opportunities for market growth in...
Read more