A Resource Based View (RBV) of Indian Clinical and Contract Research Sector

Paper discusses the resources that have contributed to the competitive position of the Indian clinical and contract research sector and analyze the case using the RBV (Resource Based View) of strategy. RBV helps explain the contribution of various resources to the Indian clinical and contract research sector.India is emerging as a natural choice and ultimate destination for contract clinical research services. India's competitive advantages in clinical trials and contract research are based on favorable regulatory climate, a huge population with a diversity of diseases, sound infrastructure facilities, lower infrastructure costs, English language proficiency of doctors, staff of hospital, clinical analysts and investigators, large pool of treatment naïve patients, high speed of subject recruitment, good patient compliance and retention rate and low cost of clinical studies. Clinical and contract research is a rapidly growing industry in India. Many pharmaceutical organizations and contract research firms have started to extract the vast potential that India has, and are conducting clinical trials and contract research activities in India on a big scale. A combination of resources including supportive government policies, size and composition of population, skilled workforce, sound medical infrastructure, established pharma industry, and global linkages etc. help create a sustainable advantage for the Indian clinical and contract research sector. Paper discusses opportunities for Indian clinical and contract research industry, its growth drivers in terms of resources, and emerging challenges