CROs unaware of gains from investments in IT

MUMBAI: The contract research industry in India is estimated at Rs 4.8 billion with an annual growth rate of 80 per cent, a study revealed.

The recently released report on the burgeoning Indian Contract Research Organisations (CROs) industry by TCS's 'Global Lifesciences and Healthcare practice' pointed out that the average IT spending by the industry had grown by 14 per cent.

However, most players seemed unaware of the potential gains from investments in IT in the CRO value chain, the report said. The consolidated IT spending by the players in the industry is less than one per cent of the total revenue, it added.