Clinical Trials Market Research Reports Analysis and Trends
Clinical trials are research studies that test how well new medical approaches work in people. Each study answers scientific questions and tries to find better ways to prevent, screen for, diagnose or treat a disease. Clinical trials might compare a new treatment to a treatment that is already available.
Every clinical trial has a protocol, or action plan, for conducting the trial. The plan describes what will be done in the study, how it will be conducted, and why each part of the study is necessary. For example, doctors use clinical trials to develop new treatments for serious diseases such as cancer.
Uses of Clinical Trials
Clinical trials are performed to evaluate new drugs, medical devices such as new catheter, biologics, psychological therapies, or other interventions. Clinical trials are done before the national regulatory authority approves marketing of the drug or device, or a new dose of the drug, for use on patients.
Types of clinical trials
During the clinical trial, the investigators: recruit patients with the predetermined characteristics, administer the treatment, and collect data on the patients' health for a defined time period. These patients can be volunteers who are not paid for participating in clinical trials. These data include measurements like vital signs, concentration of the study drug in the blood, and whether the patient's health improves or not. The researchers send the data to the trial sponsor, who then analyzes the pooled data using statistical tests.
Based on researcher’s behaviour, clinical trials can be classified as observational study and interventional study.
In an observational study, the investigators observe the subjects and measure their outcomes. Whereas in an interventional study, the investigators give the research subjects a particular medicine or other intervention and compare the treated subjects to subjects who receive no treatment or standard treatment. Then the researchers measure how the subjects' health changes.
Since, clinical research is the bridge between the lab and the market for new drugs, the clinical trial industry is constantly evolving, and new clinical studies are being launched at an ever-growing pace.
India's pharmaceutical market is the second largest in Asia, growing by more than 9% annually. The Indian pharmaceutical industry is estimated at US$ 5.40 billion and projected to grow up to US$ 7.40 billion. India is increasingly being recognized as a centre for global clinical trials.
Clinical Trials Industry Current Trends
According to the reports, the Clinical Trials market worldwide is worth over US$ 45 billion and the industry has employed an estimated 2,10,000 people in the US and over 70,000 people in the UK and they form one third of the total Research & Development staff.
As per the reports, Clinical Trial industry in India touched US$400 million in 2010, up from US$230 million in 2008 and is expected to touch US$1.09 billion by 2014. The cost of conducting clinical trials in developing countries like India and China is far lower when compared to their developed counterparts.
Major Clinical Trials Industry Players
Some of the major pharmaceutical and clinical research organizations in India are Asian Clinical Trials, Dr Reddy's Lab, Glaxo Smithkline, Igate, Periclinical, Quintiles, Lotus Labs, Ranbaxy Laboratories, Novartis, and Omnicare.