Pharma Business Report Series - BRIC Clinical Trial Report Part 1
Pharma IQ is dedicated to bringing you the most important information for your pharma business. This series focuses on opportunities and challenges in clinical trials, a very important subject for many professionals in the pharma industry. This is part one of the report, for the rest of the series please visit our pharma business resource centre.
India is primed to become a hub for clinical research and clinical outsourcing activities. In a recent global study by Pharma IQ entitled “BRIC Clinical Trials: Opportunities and Challenges”, over half of the survey participants 53.5 % identified India as the BRIC country with the greatest opportunities for clinical trials.
With higher attrition of potential candidates in various phases of drug development and a lack of new drugs, the global clinical trials landscape has changed in recent years. As accessibility, visibility and data quality have increased in the BRIC nations, conducting carrying out clinical trials in Brazil, China, India and Russia has become a much more attractive global proposition. The large patient pools being cited by the survey respondents as the main reason for investing and outsourcing clinical activities to these regions. The globalisation of clinical research outsourcing has become a key way to improve clinical efficiency and the market for such services developing quickly especially in the BRIC countries. However challenges still remain and many pharmaceutical companies are hesitant to move to these emerging regions. The potential cost and time savings to be gained by conducting clinical trials in BRIC countries can be cancelled out if local regulations and import and export issues are factored into clinical logistics. Adherence to global standards was also cited by survey respondents as the main challenge for companies looking to conduct trials. In this report we explore the opportunities and challenges BRIC counties currently present for the global clinical trials market.
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