DUBLIN--(BUSINESS WIRE)--The "Global Contract Research Organization (CRO) Market: Size, Trends & Forecasts (2017-2021)" report has been added to Research and Markets' offering.
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.
- INC Research
- Lab Corporations
- PRA Health Science Inc.
- QuintilesIMS (IQVIA)
Key Topics Covered:
1. Executive Summary
3. Market Analysis
4. Market Dynamics
5. Competitive Landscape
6. Company Profiles
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