17. Revenue Record 04/01/10 Projected figures in respect of revenue, human power and patient load for clinical research in India 2003 2008 2010 Value (million USD) 50 200 1000 Revenue (crore INR) 75 300 875 Full time staff requirement 800 4000 20,000 Site-staff requirement 1500 6000 30,000 Patient load 10,000 50,000 300,000 Source: McKinsey report
By 2020, the pharmaceutical market is anticipated to more than double to $1.3 trillion. TRENDS National spending on clinical trials was nearly $24 billion in 2005. By 2006 this number will rise to $25.6 billion and then $32.1 billion in 2011, an average annual growth rate (AAGR) of 4.6%. In 2005, biotechnology and pharmaceutical companies spent approximately $51 billion on research and development efforts, with $21 billion (41%) spent on clinical trials. In comparison, government contributions to clinical trials were considerably smaller. The National Institutes of Health spent $2.9 billion on clinical trials in 2005 and budgeted $3.0 billion for 2006. Total funding for 2005 was $24.4 billion. In 2006 this number will rise to $26 billion and in 2011 to $32.6 billion, an AAGR of 4.6% The number of clinical trials performed in 2005 was 8,386. BCC Research predicts this number will reach almost 10,000 by 2006. At an AAGR of 5.8%, the number of clinical trials performed in 2011 will reach more than 13,000.
Clinical trials are conducted to allow safety and efficacy data to be collected for new drugs or devices. A comparative study for key Asian countries (India, China, Pakistan, Singapore and Sri Lanka) to better understand the trend of clinical trials in Asian countries. The numbers of trials, as registered with clinicaltrials.gov by companies all across the world were considered in this study.
As apparent from our results India and China were head to head till the year 2006, following that China started getting lead from India. On the other hand, Singapore started losing to India and China following 2004.
In 2006 the total market for CRO services was estimated to be $15 billion. Of this Covance had a share of 10%, which equated to $1.5 billion. [2] http://www.wikinvest.com/stock/Covance_(CVD)