The global ClinicalTrial market size is projected to reach USD 71150 million by 2026, from USD 42900 million in 2020, at a CAGR of 8.8% during 2021-2026. Global Clinical Trial Market report 2020 provides unique insights into the current development states and the future growth potentials of the global clinical trial service market.
India is an emerging hub for clinical research, because of the advantages of conducting clinical trials in India:
● Indian clinical research industry has very strong fundamentals including
● The genetically diverse patient pool
● Vast population in need of medical treatment
● Qualified medical professionals
● Availability of required infrastructure
● Clinicians and data specialists
● Good regulatory policies
The field of clinical research is well suited for jobs after B.Sc. or after M.Sc. in Life Sciences, Microbiology, Biotechnology, Zoology, Biochemistry, or Chemistry. It has got a great scope of jobs after B. Pharm. Or M. Pharm. Or MBBS, BAMS, BHMS, BDS, or nursing graduates.
Struggling to make a career decision in Clinical Research
With the required knowledge of clinical research guidelines and regulations, one can get various types of jobs like CRA, CRC, Medical Writer, Clinical Data Coordinator, Clinical Data Manager, PV specialist, DataAnalyst, and Safety Data Scientist.Acertified CRAor a certified CRC would have better chances of getting hired and promoted.ACRAjob often requires travel to different clinical trial sites, making it a perfect fit for a travel enthusiast with clinical research knowledge.
There is a huge gap between the demand and supply of well-trained and certified clinical researchers in the industry, making it quite a lucrative career option. Clinical research professionals may earn up to 3.8 -4 lacs per annum. Even as freshers, clinical research professionals earn 1.8 -3.2 Lacs per annum.The average CRAsalary in India would be 2.8 Lacs to up to 6.5 Lacs as the experience builds.The average CRC salary in India would be 1.8 to 3.2 LPA.
Many Pharma companies, CROs, Hospitals and IT companies offer an attractive career in Clinical Research. Some of the major players in the industry are Quintiles, ICON Plc, Parexel, PPD, Inventive, Pfizer,TCS, Cognizant, Syntel, Cipla, Novartis, Novo Nordisk, Johnson and Johnson, Nicholas Piramal among many other reputed companies involved in various domains of clinical research including Clinical Data Management (CDM) and Pharmacovigilance (PV).
In addition to the vast domestic market of clinical trials in India, there is a booming market of clinical trials outsourced to India, and the prospect of clinical research in India is much better.There are multiple career opportunities for highly competent and trained professionals in different related segments to pursue careers in clinical operations, clinical data management, medical writing, pharmacovigilance, medical coding, etc.
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