Clinical trials market to grow at 15% a year: ICRI

The country's $300 million clinical trials market is expected to grow at an annual growth rate of 15% over the next four years, a top official with the Institute of Clinical Research India (ICRI) said.

This will bring nearly 15% of the total global clinical trials to India by 2011 and will generate an annual revenue of $1 billion, ICRI's Chief Executive Officer Anthony Woodman said.

"Currently, there are 268 approved clinical trials in India, as compared to a global total of 1,80,000. The value of the current clinical trials in India is $300 million," he said.

ICRI is the country's premier institution for clinical research and has four campuses in Mumbai, Delhi, Ahmedabad and Bangalore.

However, a lack of competent personnel in the country and appropriate research infrastructure are posing major challenges to its growth, Woodman said. He also pointed out the need for amendments in regulations to conduct studies of medicines developed outside India.

"Though the regulatory environment has improved significantly, further changes to the mechanism are also required. In India, studies on drugs developed abroad are not permitted, while it is allowed in most of the countries," Woodman said.

ICRI has joined hands with the Drug Information Association to organise a three-day international conference in India this month, he said.