Global Contract Research Organization Market (2017-2021): Growing Spending in Biopharmaceutical R&D – Research and Markets

Contract Research Organization (CRO) Market: Size, Trends & Forecasts
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Contract Research Organization or CRO is described as an organization
which provide assistance and services generally to the pharmaceutical
and biotechnology industries in the form of data research, drug tests,
clinical trials, post development marketing, and related services for
the development of both drugs and medical devices. CROs are available in
a vast range from large, international full service organizations to
small, niche specialty groups and can propose their clients the
experience of moving a new drug/medicine or device from its commencement
to FDA marketing approval without the drug sponsor having to maintain a
staff for these services.

CRO performs many activities which are segmented into four
functions/segments: post approval, pre-clinical, clinical and central
lab. Clinical segments are the most important segment as all the
clinical trials are performed in this segment after which only FDA
approve the drug.

There are many services which are provided by the CRO such as project
management, data entry and validation, database build, clinical trial
data management, medicine and disease coding, quality reporting. Many
points are looked before selecting a CROs service such as scientific
expertise, technology capability, geographical presence, access to data,
cost efficiency, breadth of service, etc. CRO assistance comes with both
pros and cons. There are many advantages of taking CRO assistance such
as time efficiency, expertise and experience, cost effectiveness, proper
research, etc. However, there are some disadvantages as well like
confidentiality, communication management, etc.

The global contract research organization (CRO) market is expected to
increase at a significant growth rate during the forecasted period
(2017-2021). The global contract research organization (CRO) market is
supported by various growth drivers, such as increased use of mass
spectrometry in clinical labs growing spending in biopharmaceutical
research and development, escalating costs of therapeutic development,
favorable outsourcing trends, etc. Yet, the market faces certain
challenges, such as, industry consolidation, data integrity, few
barriers to entry for limited-service providers, etc. Few market trends
are also provided such as, diverse and faster growing end-market,
growing preference of outsourcing to full service CROs by
biopharmaceutical companies, etc.

Companies Mentioned

  • INC Research
  • Lab Corporations
  • PRA Health Science Inc.
  • QuintilesIMS (IQVIA)

Key Topics Covered:

1. Executive Summary

2. Introduction

3. Market Analysis

4. Market Dynamics

5. Competitive Landscape

6. Company Profiles

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