Globally, the industry for clinical trials is estimated to be worth $47.0 billion in 2021 and is anticipated to increase at a CAGR of 5.8 percent from 2022 to 2030. Here in India, the exploding population, the abundance of trained labor, the facilities, the advancement of technology, and the expanding market position of pharmaceutical firms are critically the most important factors influencing growth. The demand for pharmaceuticals will increase as India's economy develops. ORCIMED is a Clinical Services Organization (CSO) that is solely dedicated to offering the services needed to carry out clinical research and to support pharmaceutical products in global regulated markets. The business bases its operations on patient services and care, and it is dedicated to ensuring that the medication patients take is safe and effective.
Expert Solutions
The clinical research and trials sector experiences a range of challenges from identifying participants for studies to legal obstacles. Regulatory restrictions, documentation requirements, and safety surveillance programs are only a few of the issues that arise in supporting the marketed product once the medications are licensed. To assist with the overwhelming amount of work involved, ORCIMED provides access to medical professionals with years of expertise. The company works with all businesses in the field, including CROs, Biotech firms, and international pharmaceutical and medical device manufacturers.
“We understand that our clients need to focus their energy on the strategic aspects of clinical research or product sales and we are here to execute on the operational aspects required to get their drugs approved and supported. We are positioned to be the experts behind the scenes supporting clinical research and marketed products, helping new medicines get to market and helping to ensure those new medicines are safe and effective”, shares Dave Agrella, Chief Revenue Officer, ORCIMED.
What sets ORCIMED apart from its competitors is the company’s commitment to quality and patient-safety, and the relationships built with the clients through high quality work. “Quality is embedded in our culture and in our processes. We have multiple peer review steps for all deliverables, ensuring what we send our clients is our best quality, and our work is measured and reported to our clients through industry leading metrics and strong governance processes”, shares Dr. Raza Mohammed, Chief Scientific Officer, ORCIMED.
What Sets ORCIMED Apart From Its Competitors Is The Company’s Commitment To Quality And Patient-Safety, And The Relationships Built With The Clients Through High Quality Work
“Most of all, ORCIMED focuses on our people, we hire the best and we retain them. We understand that fundamentally, they’re our people who enable us to grow, they’re our people who differentiates us and inspire us to have the best, we need to invest strategically in them. Our retention rate is more than 90 percent which is significantly higher than our peers in the industry", shares Suman Maarisetty, Chief Executive Officer, ORCIMED.
Journey & Future Roadmap
ORCIMED was founded in 2022 by a group of industry experts with a combined 80 years of experience and has its workforce established in India & U.S.A. Initially focused on building SOPs and processes while hiring a strong management team, ORCIMED made careful investments to ensure top quality, making the firm 100 percent audit ready. The firm witnessed quick uptake as a result of these dedicated endeavors. In a short span, the company has acquired several global clients, and expects to be 250 FTEs by the end of March 2023.
While the firm has elaborate expansion plans, it aims to ensure that the growth of the firm comes at a pace wherein the quality is maintained, and the mission is supported. ORCIMED expects to expand to an additional delivery centre in AsiaPac Q4-2023 and a third delivery centre in Europe by the middle of 2024. With the ultimate mission to ensure complete patient-safety, ORCIMED is dedicated to become a trusted name in the industry.
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