Kristin Brooks, Managing Editor05.11.18
Similar to other facets of this industry, consolidation, the rise of precision therapies, and big data are the driving forces impacting Contract Research Organizations (CROs) and competition is on the rise. In this environment, CROs need to provide solutions that are both innovative and efficient and technology is playing a vital role in efforts to streamline clinical operations.
With clinical trials representing the lion’s share of drug development costs, sponsors are keen to outsource in an effort to control rising costs associated with therapeutic complexities, regulatory demands, and timelines. Outsourcing to CROs is anticipated to grow at a 7.4% compound annual growth rate through 2019, with a market penetration rate of 72% by 2020,1 while a report from The Business Research Company shows the global market for clinical trial services is forecast to grow at 12% year on year to 2021, raising its value to $44.4 billion.
As demand for services intensifies, the CRO industry continues to see consolidation. M&A spending in the CRO industry reached $24 billion in 2016, wi
With clinical trials representing the lion’s share of drug development costs, sponsors are keen to outsource in an effort to control rising costs associated with therapeutic complexities, regulatory demands, and timelines. Outsourcing to CROs is anticipated to grow at a 7.4% compound annual growth rate through 2019, with a market penetration rate of 72% by 2020,1 while a report from The Business Research Company shows the global market for clinical trial services is forecast to grow at 12% year on year to 2021, raising its value to $44.4 billion.
As demand for services intensifies, the CRO industry continues to see consolidation. M&A spending in the CRO industry reached $24 billion in 2016, wi
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