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DIGITAL TRANSFORMATION IN CLINICAL TRIALS The India CRO market is currently poised to seize a transformative opportunity through the integration of digital technologies in clinical trials. The convergence of digital solutions and data-driven approaches holds the potential to revolutionize the landscape of drug development in India. According to NCBI, EMR or electronic health record (EHR) of patients is rapidly catching up around the world. The use of digital technologies in clinical trials is expected to increase by more than 40% per year. As the digital age continues to advance, the Indian CRO market stands at the forefront of leveraging technological innovations for clinical trials. The adoption of digital tools and platforms has significantly expanded the horizons of clinical research in India. This is particularly evident in the proliferation of mobile health apps, wearable devices, electronic health records, and telemedicine. These advancements have paved the way for remote patient monitoring and real-time data collection, bringing a new level of precision and granularity to clinical trial data. One of the most impactful facets of digital transformation in clinical trials is the use of artificial intelligence (AI) and machine learning (ML) algorithms. These technologies can analyze vast datasets with unprecedented speed and accuracy. Predictive modeling, patient stratification, and data analysis can all be enhanced, streamlining the entire drug development process. AI and ML not only expedite decision-making but also help in identifying the most promising drug candidates, ultimately saving valuable time and resources. For instance, IQVIA uses Artificial Intelligence (AI) to improve design and execution of clinical trials and to Find correlations that enable early disease detection. Furthermore, the COVID-19 pandemic has accelerated the adoption of digital technologies in clinical trials. The necessity of remote monitoring and the urgency of vaccine development highlighted the pivotal role of digital solutions in expediting research efforts. This experience has driven home the importance of digital transformation, making it a priority for the industry moving forward.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Service Type, Therapeutic Application, End User, and Region |
India CRO Market Overview
India CRO Market size was valued at USD 0.69 Billion in 2023. The CRO market industry is projected to grow from USD 0.73 Billion in 2024 to USD 1.32 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.23% during the forecast period (2024 - 2032). Clinical trials' globalization, the use of new technologies in clinical research, the rise in illness diversity and prevalence, and the expansion of R&D all support outsourcing, are the key market drivers enhancing the market growth.Â
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
India CRO Market Trends
- Globalization of clinical trials is driving the market growth
The primary drivers anticipated to propel the market are the globalisation of clinical trials, adoption of new technologies in clinical research, rising illness diversity and prevalence, and rising research and development encouraging outsourcing. The Indian government is actively pursuing improvements to R&D efforts, which is anticipated to foster market expansion. In addition, to boost the R&D operations in the nation, the Department of Pharmaceuticals (India) suggested a new strategy in October 2021 to cut the time needed for the approval of innovative goods by at least 50% during the following two years. It is hoped that such activities will help the market continue to expand.
The digitalization of clinical trials is expected to accelerate market expansion. Digitalization has improved the efficiency of a number of trial procedures, including data collection, regulatory compliance, logistics, and supply management, among others. Additionally, the advent of digital therapies has made it simpler than ever to collect real-time data on safety and toxicity, supporting quick trial design correction and fostering market expansion. Clinical trials in India cost about half as much as they do in the United States and Europe. Therefore, it is projected that the county will dominate the market because to its cost effectiveness and big patient pool of untreated patients.
In every country affected by the COVID-19 pandemic, the situation was disastrous, and India was no exception. Due to factors like supply chain disruption and the temporary shutdown of manufacturing facilities, the initial phase of the pandemic caused a halt in research and development activities across the nation, which presented challenges for clinical research. Furthermore, the lockdown's implementation has led to a decline in the number of patient studies done across the nation.
A considerable number of clinical trials were carried out in the nation after 2021 as a result of the COVID-19 pandemic's urgent need for medicines and vaccinations, which indicates a recovery in the overall number of studies carried out in India. For instance, the American company Akston Biosciences stated in November 2021 that the clinical trial for their second-generation COVID-19 vaccine, known as "AKS-452," is about to begin in India. Similar to this, India's Ministry of Ayush and Council of Scientific & Industrial Research stated in April 2021 that a multi-center clinical trial of the medicine AYUSH 64, which is used to treat mild-to-moderate COVID-19 infections there, has been successfully completed. After 2020, COVID-19 clinical studies will likely increase, which will probably be good for the market's growth starting in 2021.Thus, driving the CRO market revenue.
India CRO Market Segment Insights
India CRO Service Type Insights
The India CRO market segmentation, based on service type, includes clinical trials, product development, process development, post-marketing surveillance, and quality monitoring others. Clinical trials segment dominated the market in 2022. This is explained by the segment's high cost structure. One of the main factors contributing to the high cost of this experiment is the requirement for a big patient group in phase clinical studies. Additionally, the investigations in clinical trials are conducted for a longer period of time, which lowers the trial's cost and raises its market segment share.
India CRO Therapeutic Application Insights
The India CRO market segmentation, based on application, includes oncology, cardiovascular, neurology, nephrology and urology, and others. Oncology segment dominated the market in 2022. This is due to the rising incidence of cancer in the nation and the rising demand for cutting-edge medical technology and cancer therapies. The Cancer Tomorrow projects that by 2040, 2 million people in India will be affected by cancer, which is one of the leading causes of death in the world. The majority of cancer treatments are ineffective when the disease is advanced, which is a major factor in the nation's rising demand for novel cancer therapy choices.
India CRO End User Insights
The India CRO market segmentation, based on end user, includes pharmaceutical/biopharmaceutical companies, medical devices companies, and academic institutes. Pharmaceutical/biopharmaceutical companies segment dominated the India CRO market in 2022.This is due to India's expanding CRO adoption.
Figure 1: India CRO Market, by End User, 2023 & 2032 (USD Billion)Â
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
India CRO Regional Insights
By region, the study provides the market insights into India. This is due to the accessibility of a sizable patient pool that makes recruitment simple. One of the main factors influencing the industry is the global pandemic. Due to the high quality and speedy turnaround of its studies, India's largest, most experienced biotech CRO, "Novotech," has observed a rise in demand from biotechnology sponsors. For COVID-19 studies, an increasing number of biotechnology companies choose India because of the country's vast patient pool and quick processes.
India CRO Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the CRO market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, CRO industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the India CRO industry to benefit clients and increase the market sector. In recent years, the CRO industry has offered some of the most significant advantages to medicine. Major players in the CRO market, including Quintiles IMS Holdings, Inc., Syngene, Pharmaceutical Product Development, LLC., Siro Clinpharm, Clininvent Research Pvt. Ltd., VIMTA, Bilcare Limited, Aizant Drug Research Solutions Private Limited, Piramal Pharma Solutions, Synapse Labs Pvt Limited, Eurofins Scientific, Laurus Labs., Neuland Laboratories Ltd, and PAREXEL International Corporation, are attempting to increase market demand by investing in research and development End Users.
Operating a life sciences research organisation with the goal of providing clinical research and development services is Aragen Life Sciences. As a result of the company's expertise in drug research, clinical development, contract manufacturing, formulation, and informatics, healthcare organisations are able to provide a wide range of cutting-edge healthcare goods and services. In order to broaden its end-to-end comprehensive discovery and development platform for the biotechnology, pharmaceuticals, and other industries, Aragen Life Sciences, an Indian CRO, purchased Intox Pvt. Ltd. in Maharashtra, India, in December 2021.
Developer of the crystallizable fragment (Fc)-fusion protein platform for the production of novel kinds of biological therapies for the treatment of diabetes is Akston Biosciences. The business produces kilogram-scale batches of medicinal ingredients and provides vaccinations, ultra-long-acting insulins, and treatments for autoimmune diseases, enabling physicians to enhance glucose management, lessen consequences, and completely remove the risk of hypoglycemia for both human and animal health. Akston Biosciences, a company based in the United States, declared in November 2021 that the clinical trial for its second-generation COVID-19 vaccine, known as "AKS-452," is about to begin in India.
Key Companies in the India CRO market include
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Quintiles IMS Holdings, Inc.
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Syngene
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Siro Clinpharm
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Clininvent Research Pvt. Ltd.
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VIMTA
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Bilcare Limited
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Aizant Drug Research Solutions Private Limited
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Piramal Pharma Solutions
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Synapse Labs Pvt Limited
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Laurus Labs.
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Neuland Laboratories Ltd
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PAREXEL International Corporation
India CRO Industry Developments
July 2023: Syngene International Limited acquired Unit 3 biologics manufacturing for USD 7,020 in Bengaluru, India, from Stelis Biopharma Limited (India). This acquired added 20,000 liters of installed biologic drug substance manufacturing capacity for Syngene.
May 2023:
JSS Medical Research has been acquired by Genesis Drug Discovery and Development (GD3), a Contract Research Organization (CRO) part of Genesis Global Group (GGG). JSS Medical Research, headquartered in Montreal, Canada, and with regional offices in Bogotá, Columbia, Faridabad, India, and Warsaw, Poland, provides pre- and post-approval clinical development services to pharmaceutical, biotechnology, nutraceutical, and medical device companies around the world.
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India CRO Market Segmentation
India CRO Service Type Outlook
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Clinical Trials
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Product Development
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Process Development
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Post-Marketing Surveillance
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Quality Monitoring Others
India CRO Therapeutic Application Outlook
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Oncology
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Cardiovascular
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Neurology
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Nephrology and Urology
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Others
India CRO End User Outlook
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Pharmaceutical/Biopharmaceutical Companies
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Medical Devices Companies
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Academic Institutes
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