Clinical Research: A New Bustling Industry
Clinical Research is about finding the best way for patients to receive medical care. Clinical Research can be defined in three parts
- Patient-oriented (research involving interaction with human subjects)
- Epidemiologic and behavioural, and
- Outcomes and health services research. In each of these cases, researchers are looking to study how to improve health.
Clinical research includes clinical trials, which are studies that evaluate the effectiveness and safety of medical devices or drugs. These studies are conducted according to a formal protocol, which defines what kind of patient can participate, when and how much treatment is given, what is being measured, and the overall duration of the study
India – The Emerging Market for Clinical Research
India is considered as a preferred site for conducting global clinical trials. Existence of a large treatment-naïve population, availability of English-speaking, skilled doctors, plenty of clinical material, and cost-savings are obvious advantages for carrying out clinical research in India.
However, challenges exist at various levels. Lack of formal training in medical science, bioethics and research methodology, heavy burden of clinical duties and sub-optimal administrative support restrict investigators.
In India, Clinical Research is a about US$1 bilion industry with half of it being accounted for by Clinical Data Management and Pharmacovigilance with companies like TCS, Accenture, Infosys, Wipro, HCL. The other half consists of CROs, Pharma companies and Hospital like Quintiles, Novartis, Siro, Max, Fortis, Columbia etc.
Scope of Clinical Research in India
Indian Clinical Data Management and Pharmacovigilance industry is witnessing a boom with growth rate of over 30% per annum and the Clinical Trials area is also undergoing phenomenal growth in India. Reputed organisations like TCS, Accenture, Cognizant, Quintile, Wipro, HCL, Max, Fortis, Novartis, Pfizer are recruiting aggressively in these areas.
- Industry demands more than 50,000 trained professionals in the coming years in various domains related to Clinical Research.
- These positions require candidates to hold professional degree/ diploma and certificates in Clinical Research related functions.
- Clinical Data Management and Pharmacovigilance are emerging as a big push forming 40% of the business.
- India has all the ingredients to conduct Clinical Research to tap $70 billion opportunity in Clinical Research and Clinical Data Management system.
- Work environment in the industry is quite comfortable and performance-centric with opportunities to travel and work globally.