India, the new pharmaceutical hub with clinical trial business now worth $1 billion
By 2015, the Indian pharmaceutical industry is expected to reach a value of $20 billion, which will make it one of the world's top 10 pharmaceuticals markets.
According to the Associated Chambers of Commerce and Industry, India's clinical trials business will also reach approximately $1 billion by 2011, further solidifying the subcontinent as one of the world's preferred destinations for clinical testing. With this increase an immense need has risen to address all aspects of pharmacovigilance to ensure delivering medical advances to patients, quickly and efficiently while protecting public health.
In July 2010, India’s Ministry of Health and Family Welfare (MOHFW) launched a complete roadmap for pharmacovigilance in the country under the Pharmacovigilance Program of India (PvPI). The goal of this program has been to provide safer medicines for the Indian population.
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