With the recent notification of the revised schedule Y of the Drugs & Cosmetics Act allowing simultaneous Phase II & III trials in India and the rest of the world, clinical research outsourcing to India is set to boom. With current revenues of $100 million, the clinical research industry is set to grow 80% in 2005, predicts market-research firm SCOPE. While CenterWatch estimates the industry to reach a size of $300 million in the next five years, others like The Boston Consulting Group are more bullish projecting a $500 million turnover by 2010. It is estimated that 20% of all global clinical trials will be from India by then.
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