Clinical trial market to reach $ 200mln by '07: Assocham

New Delhi, Dec 19 (UNI) Industry chamber Assocham today said it estimates that the clinical trial market in India will be 200 million dollars by 2007 and one billion dollars by 2010 while the contract manufacturing market is expected to reach 900 million dollars by 2010.

On clinical trials, the chamber pointed out that in 2005, the industry for clinical trials in India was 100 million dollars. This market is growing at an accelerated pace and India offers a lot of advantages in the clinical trials domain such as cost advantage compared to western countries.

Commenting on the future trends, the chamber said, some of the major trends that are expected in the future include mergers and acquisitions in the industry, new product launches by MNCs and Indian companies, in-licensing of patented products by Indian companies and increase in the number of contract research organisations.

Major pharmaceutical companies in India are the main R&D investor in the country. The R&D spend of these major companies has grown at compounded annual growth rate (CAGR) of 38 per cent during the period 2000-01 to 2005-06.

In 2005-06, the R&D expenditure of 50 major companies totalled 495.19 million dollars growing at a rate of 26 per cent over the previous year. The higher growth rate is attributed to product patent implementation in the country in January 2005.

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