US pharmaceutical giant Pfizer recently divulged its plan to invest $15 million in clinical research. The pharma company will collaborate with specialists, health institutes and academic institutions to carry forward their project.
Almost every single day, there is a new medicine in the market to take on a particular disease. And this is because clinical research has been making tremendous progress across the world. The study of clinical research is an expanding field in India. This broad subject studies the various aspects medical research pertaining to the human body, right from diagnosis to the manufacturing of medicines.
In clinical research, the global CRO market in 2014 reached approximately $27 billion and is expected to grow at a CAGR of 6.6% to reach $32.7 billion by next year. India’s pharmaceutical market is the second largest in Asia, growing by more than 9% annually. The industry is estimated at $ 5.40 billion and likely to grow to $7.40 billion.
An MSc degree in clinical research can open up great possibilities in India. Earlier science graduates had limited career-oriented options. But clinical research has changed that. Now, anybody ranging from a general BSc graduate to Pharmacy graduate, or a BDS who wants to take up a career in clinical research, can consider enrolling in the MSc degree course from ICRI.
It is the only institute in India that offers a wide range of courses in clinical research. Also, the local cost of clinical studies in India is around 50-70% lesser than that in USA and Europe.
Students of ICRI have been placed with leading players, such as Quintiles, PAREXEL, Covance, CliniRX, GVK Bio, Astrazeneca, Novartis, PPD Pharmaceutical, and many more. Reports say that ICRI students started with 20% more salaries than others in the clinical research industry. Take for example, Madhuri Kadam from ICRI, bagged a package of Rs 50 lakh in pharma bigwig Novartis.
ICRI alumni have joined in various roles in India and abroad: Supply Chain Study Manager in the UK, Strategy & Business Support Manager in Switzerland, Pharmacist in Tanzania Health & Social Welfare.
India has numerous clinical research players with a global standard infrastructure and manpower. These companies with deep pockets are ready to support drug development run by various pharma firms. Studies on the field are on the rise, and with the entrance of global players in the market, the prospects of clinical research professionals hold big promises in the future.
ICRI has spread-out campuses in Delhi, Bangalore and Mumbai. ICRI’s award-winning MSc programme is the most sought-after programme in India. It’s undoubtedly the leading institute for pursuing post graduation in clinical research.