India is becoming a hub for clinical research; the demand for professionals in this field is growing rapidly. Indian pharmaceutical industry is one of the fastest growing sectors of the Indian economy and has made rapid strides over the years.
There is high demand for trained professionals in this field; the pay package is impressive at the entry level. Freshers can expect a pay package of around three lakhs or more per annum. Clinical research is an industry where experience counts, thus the longer you are in this field; higher the salary you can expect.
Clinical research business in India will be worth $2 billion by 2013-2014. According to a survey, there are 3,00,000 vacancies available worldwide 50,000 job openings in India by 2013-2014
In terms of the cost efficiency, India is a better bet as the cost to conduct a trial here is lower by 50 to 75 percent than in United States or European Union. R&D costs in India are substantially less than those in the developed world and it is possible to conduct both new drug discovery research and novel drug delivery system programs at competitive rates. In addition, while clinical trials cost approximately $300 to $350 million abroad, they cost about Rs 100 crore in India.
