Shobha John, TNN | Oct 22, 2012, 09.05AM IST It's an industry waiting to be tapped. But lack of regulation in clinical trials in India is giving it a bad name and making it lose ground to China, Malaysia and Singapore. Often, data of various trials is difficult to find and in some cases, doesn't even exist. So much so that last week the Supreme Court asked the Centre and states to furnish details of clinical trial deaths and the compensation paid to families of victims. This was after a parliamentary committee report said that 2,374 people had died during such trials between January 1, 2007 and June 30, 2012, and that families of only 37 victims had been paid a small compensation. The clinical research market, incidentally, is worth $1.5 billion in India. By 2015, according to Mckinsey and Company, it's expected to be about $20 billion, with a demand for 50,000 professionals. Assocham estimates that India can attract 5-10% of global clinical trials in the next five years.
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