May
Betting Big On Clinical Data Management
With a strong IT base and a booming clinical research industry India is proving to be a good destination for Clinical Data Management (CDM) outsourcing.
The Clinical Data Management (CDM) industry is the fastest growing and possibly the most profitable segment of the bio services industry. During 2006-07, it grew to million, a growth of 53 percent over the previous year. The outsourcing of MNC clinical trials to India is a prime growth driver for this market, though they are a few large dedicated CDM companies of Indian origin as well. The Indian clinical trials market in 2006 was 0 million and has been growing at a Compounded Annual Growth Rate (CAGR) of 40 percent for the last three years. At this rate, it is likely to scale up to 0 million by 2010. Correspondingly, CDM market is expected to ramp up to 0 million by the same time.