Veeda Cr Corporate Research Blog
2009
Indian CRO market- The Challenges ahead
The Global CRO market as per ACRO estimates was reaching a size of US$ 17 bn in the year 2007. Assuming a growth rate of 15% for the market was predicted to be "growing "higher than 15%, had the recession or the slow down not occurred. The market was predicted to cross the US$ 20bn in 2008 itself.
These trends have also impacted Indian CRO's. The Indian CRO market in the year had estimates of US$ 0.25 bn which if estimated in terms of Market share would be less than 1.5% of the total global share. The R &D budget allocations for the BIG MNC's are as high as 30% of their total sales as per estimates form vision gain.
Looking at the rate of outsourcing to Indian CRO's, the trends are not synonymous with the R &D budgets and the simultaneous outsourcing. This is because of the slowly changing" regulatory landscape" in the developed and the emerging markets.
So what is the "real factor" which is driving the Indian CRO growth in the last 2-3 Years? As per estimates and information released in key press releases , it has been found that the number of CRO's in India in 2005 was around 20 which is the year 2008 has crossed the 100 mark.
The Challenge- The market is small, the players have increased with similar and relatively similar services. As the market gets more competitive, the share of each player comes down.
Veeda Clinical Research is an Indian CRO which provides cost effective Bio-Equivalence studies for the drug industry.
Veeda CR Corporate Blog
Indian CRO market- The Challenges ahead
The Global CRO market as per ACRO estimates was reaching a size of US$ 17 bn in the year 2007. Assuming a growth rate of 15% for the market was predicted to be "growing "higher than 15%, had the recession or the slow down not occurred. The market was predicted to cross the US$ 20bn in 2008 itself.
These trends have also impacted Indian CRO's. The Indian CRO market in the year had estimates of US$ 0.25 bn which if estimated in terms of Market share would be less than 1.5% of the total global share. The R &D budget allocations for the BIG MNC's are as high as 30% of their total sales as per estimates form vision gain.
Looking at the rate of outsourcing to Indian CRO's, the trends are not synonymous with the R &D budgets and the simultaneous outsourcing. This is because of the slowly changing" regulatory landscape" in the developed and the emerging markets.
So what is the "real factor" which is driving the Indian CRO growth in the last 2-3 Years? As per estimates and information released in key press releases , it has been found that the number of CRO's in India in 2005 was around 20 which is the year 2008 has crossed the 100 mark.
The Challenge- The market is small, the players have increased with similar and relatively similar services. As the market gets more competitive, the share of each player comes down.
Veeda Clinical Research is an Indian CRO which provides cost effective Bio-Equivalence studies for the drug industry.
Veeda CR Corporate Blog
