Bio-services Market - Global Industry Analysis 2016 - 2024

The highly salient and high interest bio-services sector has almost lived up to its initial potential substantially when its progress is tracked over the last couple of years. The revenue and volume figures from bio-service include contract manufacturing, contract research, and clinical research. Many industry analysts and leaders are confident about the potential and prospects of the bio-services sector. For instance, a few years ago, there were approximately 120 clinical trials subcontracted to India and about 11 were enumerated officially with the Clinical Trial Registry of India (CTRI). At present, as many as 600 trials of new drugs, medical devices, treatments, and surgical procedures are ongoing in India. With the inherent cost advantages and the high investments and consolidation, it is expected that new set-ups and subsidiaries of bio-pharma manufacturers and research labs, in new sites along with clinical data management is anticipated to bode well for the growth of this sector across the globe.