The global pharmaceutical market is estimated at US$ 427 billion and Research &
Development cost is estimated at US$ 60-65 billion annually. Two-thirds of this amount is
spent on Drug Development, i.e., approximately US$ 40 billion. Clinical Trials involve
almost 70% of time and money of New Drug Development. Cost of Conducting Clinical Trials for
a new drug is approximate US$ 200-250 million.
Industries with Clinical Research Courses for Pharmacy Graduates has grown around the
world at an unparalleled rate in the past few years. It has opened up scope for PhD in
Clinical Research with 100% placements in clinical research. The Clinical Trials market
worldwide is worth over US$ 45 billion and the industry has employed 2,10,000 people in the
US and over 70,000 people in the UK and they form one-third of the total Research &
Development staff.