Abstract
Introduction
Rising costs and falling productivity, among other trends are driving
pharmaceutical companies to outsource an increasing range of functions to CROs
in search of time and cost savings. This produced strong double-digit growth
in the sector between 2003 and 2008. However, amongst other resistors, the
financial crisis resulted in reduced funding available for biotech companies.
This fully updated CRO Market Outlook assesses the market drivers and
resistors and predicts the effects of these. The report analyzes the
overarching trends in the industry; examines which regions are set to see
growth in CRO activity; evaluates the leading CROs; and outlines the future of
the industry. The report provides insight into conditions into seven emerging
regions including China, India and Latin America. It highlights the evolving
business and relationship models between CROs and sponsor companies and
enables optimal outsourcing strategy.
Key features of this report
- Identifies and analyses the most recent trends and issues in outsourcing
clinical R&D
- Describes where clinical trials will be conducted in the future
- Explores the complexities and the costs of outsourcing R&D to different
world regions
- Profiles the major international CRO players
- Provides a detailed assessment of the current CRO market including market
share information and the size/growth of R&D spending
- Focuses on emerging CRO markets
- Highlights evolving strategies for working with CROs
- Examines existing and future CRO business models
Key findings from this report
- The total CRO market size is estimated at $20bn in 2008 and expected to
grow at an annual rate of 8.5% to reach $35bn through 2015. The market is
highly fragmented and the number of CROs worldwide has reached over 1,100
despite continued consolidation.
- CROs provide substantial global capacity to drug developers and have
become a critical contributor to clinical trial activity. Projects with high
CRO involvement are associated with shorter development times.
- Of the large, global contract research providers, Quintiles is market
leader, with 15% of the global market share, followed by Covance and PPD. The
five largest CROs have increased their market share and now hold 55% of the
total market.
- The leading CROs are commodity full service providers operating on a
global scale. They act as one-stop shops for all services, from preclinical
through marketing.
- The number of clinical studies conducted in Asia, Central and Eastern
Europe and Latin America is constantly rising. India and China are the future
outsourcing destinations of choice.
- CROs and pharmaceutical companies are turning to strategic partnerships to
gain a competitive edge in the global business environment.
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