Wednesday, 3 May 2023 – Through several key drivers, India is emerging as a favourable destination to conduct clinical trials, as per a joint report by PwC India & USAIC (US-India Chamber of Commerce) titled, “Clinical Trial opportunities in India”. The report was released at the USAIC BioPharma & Healthcare Summit held virtually on May 3.
Sujay Shetty, Partner & Global Health Industries Leader, PwC, said, “Clinical trial activity in India has been increasing steadily since 2014 due to several key regulatory reforms aimed towards global harmonisation, enabling open access to clinical trials in India. The country’s diverse population, combined with its rapidly advancing healthcare infrastructure, provides a fertile ground for clinical trials to flourish. This is an opportunity for top biopharma companies to develop a long-term strategy that focuses on the key enablers of innovation and strategic partnerships in India.”
Biopharma can benefit from the critical enablers of innovation in the private healthcare system in India and leverage the rapidly expanding healthcare infrastructure in the country. Commenting on the opportunity for the private sector, Karun Rishi, President, USAIC said, “The growing interest in clinical trials in India presents a significant opportunity for private biopharma companies to leverage the country's rich diversity and robust healthcare infrastructure. With a large and diverse patient pool, streamlined regulatory processes, and a highly skilled workforce, India offers a favourable environment for biopharma companies to conduct efficient and cost-effective clinical trials. By tapping into this opportunity, companies can accelerate their drug development timelines, increase the efficiency of their research, and bring innovative treatments to patients in need, ultimately advancing global healthcare.”
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