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On the brighter side, such challenges stimulated the industry into proactive action and acted as a catalyst for the industry, regulatory authorities and other main stakeholders to join hands on a common platform to discuss on concerns essential to the industry.
Clinical Trials & Their Trends in India A couple of years back the Indian clinical research industry had witnessed turbulent times. The chances of expecting India gaining importance for the global biopharmaceutical industry and the advent of a competent innovation oriented local industry was offset by a downswing in the regulatory environment and media news that reflected an unfavorable image of the industry. On the brighter side, such challenges stimulated the industry into proactive action and acted as a catalyst for the industry, regulatory authorities and other main stakeholders to join hands on a common platform to discuss on concerns essential to the industry. The pharmaceutical industry in Asia is expanding Indian pharmaceutical companies are estimated to lead the region and significantly contribute to the expansion of the regional market for the contract research by developing biosimilars, medical devices, therapeutic equivalents, Clinical Trial Phase I to IV studies focusing on verticals such as clinical pharmacokinetic and bioavailability along with a growing number of NBE’s and NCE’s. Such regional innovation efforts are underpinned by heavy investments in the research and development during the past four to five years a few of which has already begun to yield new chemical entities from the region. However, these companies are more likely to be in the favor of home country as a location for clinical trial development initiatives. India’s potential to become an innovation hub for clinical trials and medical studies depends on an evolved medical research ecosystem and proactive attempts to address the medical loopholes. In this regard, there needs to be attempted for safer and better healthcare in India that includes increasing the level of competency of the Indian healthcare workforce, to make India an innovation hub and grow the services revenue from India. In order to attain this objective, it is essential to have a holistic medical plan created by the stakeholders comprising the academia, media, organization and industry bodies that concentrates on a stronger regulatory framework that covers both policy and governance, professional healthcare education. It also includes promoting a culture of innovation, a positive media environment and efficient public awareness. With India’s focus on the expansion in service industries that are based on knowledge oriented businesses the widely available talent and government assistance, the clinical research industry prospects are promising. Hence, one can be sure that the industry will keep on expanding aiming to offer better health care services and making safeguarding patients their main objective. Read More About: biometrics companies, regulatory services
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