Pharmaceutical Research & Analytical Services in India
Pharmaceutical research is India’s next outsourcing growth industry. Although India is the world leader in outsourcing, many of its industries are threatened by highly capable foreign competition. Chinese are fierce competition in the IT / Software arena due to their exceptional skills and infrastructure while the Philippines can easily compete with India for Call Center work due to their natural language abilities and cultural ties to the West. Despite these two countries that form a serious threat to India’s outsourcing industry, India has many other talents up its sleeve. Accounting, BPO – Business Process Outsourcing, Data Entry, Legal Process Outsourcing, and Pharmaceutical Research and Analytical services are some of the most common. Pharmaceutical analytical services is still a small industry in India comparitively, but it is expected to grow quickly to become a multi-billion dollar industry in just three or four years.
India has a competitive edge in Pharmaceutical analysis because they have fast turnaround, low costs, minimal downtime compared to other countries, plus good protection for intellectual property rights which puts Chinese competition in a very unattractive position from a relative perspective. It seems that each country has comparative strengths and weaknesses deriving from their culture, economy, and legal system.
Skill sets in India
Additionally, the skill sets available in India are excellent for Pharmaceutical analysis as India has many scientifically trained individuals capable of developing combinatorial chemistry, chemical synthesis, new synthetic molecules, and plant derived candidate drugs.
Although India has a shortage of molecular biologists, it has many talented chemists who are critical for the pharmaceutical research business.
According to Wikipedia, the Indian pharmaceutical industry is the second largest in the world by volume and is likely to lead the manufacturing sector of India. India’s biotech industry achieved a 17% growth during the 2009-2010 financial year. Drug manufacturing is another huge multi-billion dollar related industry in India.
Diversity in Climate and Genes
India has a wide variety of climates and one of the widest varieties of gene pools in the world, making it a wonderful testing ground for new drugs. There are desert environments in the Northwest, tropical environments near the coasts, mountains in the North, and California-like conditions in Pune. The population has a mixture of many races with European looking people in parts of the extreme North and Northwest, Asian looking people in parts of the East, and even people with Iranian and Afghani ancestry in Muslim populations in the Northwest, not to mention many individuals who look like they have African genes in parts of Tamil Nadu and Kerela. India is one of the most genetically diverse places on earth.
Pharmaceutical Research on 123outsource.net
We will be featuring a few pharmaceutical analytical companies in our BPO section on 123outsource.net. We are not going to create a separate category for this type of company until we reach a critical mass of twenty or more companies.