The Indian Contract Research Organization (CRO) market is presently in a vibrant phase of growth due to the rising global need for clinical trials, drug discovery and pharmaceutical research. India has a strategic advantage of its cost effective services, highly skilled workforce and diverse patient population which allows the conduct of multi-centric trials with varying genetic profiles. Given the reduction of operational costs and quicker turnarounds, global pharmaceutical and biotechnology companies are increasingly outsourcing critical functions of their research and development (R&D) pipelines to Indian CROs.

Over the past few years, India’s regulatory environment has also changed significantly, increasing credibility and attractiveness of the country as a preferred destination for clinical research. A strong confidence in the global sponsors was instilled by the introduction of streamlined approval process and an increased emphasis on compliance with the international standards. Also, the scope of offerings by Indian CROs has increased beyond the traditional services such as bioanalytics, data management, pharmacovigilance and biostatistics which have expanded to become integral partners to the global drug development ecosystem.

Moreover, the rise of personalized medicine and biologics is pushing up demand for niche research capabilities and is pushing Indian CROs to invest in advanced technologies and innovative methodology for research. Clinical research processes have become more efficient and accurate with the proliferation of the digital tools such as artificial intelligence and big data analytics. The market is expected to continue its growth due to the growing number of global players tying up with Indian CROs. The fast rising clinical research outsourcing sector in India is expected to continue growing with the support of innovation, regulatory reforms and the expanding portfolio of high value services.

Keeping tabs on this market, India Pharma Outlook has shortlisted the select few companies in this field that have exhibited an unrelenting pursuit of excellence. By proving their dedication to fulfilling customer expectations and contributing to the market’s evolution through their innovative disposition, these firms are blazing a trail.

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