India needs to adopt strategies from countries like China and Australia to increase its share in the global clinical trials market, healthcare experts suggested at the BioAsia conference in Telangana.

Currently, India holds an 8% share in global clinical trials, significantly lower than China's 29% and the U.S.'s 25%, according to data from PwC. Experts emphasized the need for regulatory reforms and improved patient recruitment strategies to boost India's presence in the sector.

"There's a lot to learn from what other countries have done to make them clinical trial destinations," said Smruthi Suryaprakash, a partner at BCG India. She highlighted that China witnessed increased innovation after easing regulations, while Australia benefited from tax incentives.

India’s clinical trials research market is expanding rapidly, supported by a diverse patient base, cost-effective solutions, and an extensive hospital network. According to U.S.-based GrandView Research, the sector is expected to generate revenues exceeding $2 billion by 2030. However, experts stress that speed is a crucial factor in attracting sponsors.

"India will be able to capture the clinical trial market if we can really work on the speed. I think speed is what is really important to sponsors, either with the regulator or being able to recruit patients faster," Suryaprakash added.

India’s drug regulatory body is taking steps to streamline the approval process for global trials. Rajeev Raghuvanshi, the Drugs Controller General of India, stated that regulatory processes have been refined annually over the last three years. Since the revamp of trial rules in 2019, approximately 160 trials have been approved.

Experts also stressed the need for better patient recruitment strategies. They suggested allowing sponsors to raise awareness about ongoing clinical trials through advertisements, a practice already common in countries like the U.S. and the U.K.

"You're not able to recruit into the trial because they (patients) do not know that it exists," said Padmaja Lokireddy, an oncologist at Apollo Hospitals.

Challenges such as preparing clinical trial sites, ensuring global safety standards, and identifying suitable patients remain key hurdles. However, with regulatory improvements and increased awareness, India is poised to become a more competitive destination for clinical trials in the coming years.