Contract Research Organizations: An Introduction
A contract research organization (CRO) is a company that provides services to the pharmaceutical, biotechnology, and medical device industries in the form of research and development (R&D). CROs offer a wide range of services, from pre-clinical research to clinical trials and post-marketing surveillance.The global CRO market is expected to grow from $32.3 billion in 2015 to $49.2 billion by 2020, at a compound annual growth rate (CAGR) of 8.6%. The growth of the CRO market is driven by the outsourcing of R&D activities by pharmaceutical and biotechnology companies, the need for cost-effective drug development, and the increasing number of clinical trials.
The top 10 CROs accounted for 57.5% of the global CRO market in 2015. The top three CROs, Parexel International, Quintiles Transnational, and Charles River Laboratories, accounted for 26.1% of the market. The market is highly fragmented, with the top 10 CROs accounting for less than 60% of the market.
The global CRO market is classified into three segments:
1. Pre-clinical research services
2. Clinical research services
3. Post-marketing surveillance services
Pre-clinical research services are further segmented into target identification and validation, lead optimization, and pre-clinical development. Clinical research services are further segmented into phase I, phase II, phase III, and phase IV clinical trials. Post-marketing surveillance services are further segmented into pharmacovigilance and risk management.
Parexel International, Quintiles Transnational, and Charles River Laboratories are the leading players in the global CRO market. Other major players include ICON plc, Covance Inc., Laboratory Corporation of America Holdings, PRA Health Sciences, INC Research, and Alexion Pharmaceuticals.
The CRO market in North America is expected to grow from $15.4 billion in 2015 to $24.1 billion by 2020, at a CAGR of 9.4%. The US CRO market is expected to grow from $13.8 billion in 2015 to $ Contract research organization list
2. What is a Contract Research Organization?
A contract research organization (CRO) is a company that provides support to pharmaceutical and biotechnology companies in the form of research services outsourced on a contract basis. CROs offer a wide range of services, from preclinical research to clinical trials and post-marketing surveillance.
The global CRO market is growing rapidly, driven by the increasing demand for outsourced research services from the pharmaceutical and biotechnology industry. The industry is expected to grow at a compound annual growth rate (CAGR) of 8.6% from 2016 to 2022, to reach a value of USD 64.5 billion by 2022.
The top 10 CROs accounted for around 58% of the global market in 2016. The top three CROs - QuintilesIMS, Parexel, and LabCorp - accounted for 31% of the market. The CRO market is highly fragmented, with the top 10 companies accounting for a 58% share of the market in 2016.
The Asia-Pacific region is the fastest-growing market for CROs, with a CAGR of 11.0% from 2016 to 2022. The growth in the region is driven by the increasing number of clinical trials being conducted in the region, the growing demand for outsourced research services from the pharmaceutical and biotechnology industry, and the favorable regulatory environment.
The global contract research organization market is segmented by service, therapeutic area, and geography.
By service, the market is segmented into preclinical research, clinical research, and post-marketing surveillance.
By therapeutic area, the market is segmented into oncology, cardiology, central nervous system, infectious diseases, and others.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The major players in the contract research organization market are QuintilesIMS, Parexel, LabCorp, ICON, Covance, Charles River Laboratories, PRA Health Sciences, Inc., and SYNTERACT.
3. The Benefits of Working with a Contract Research Organization
A contract research organization (CRO) is a company that provides research and development services to pharmaceutical and biotechnology companies on a contract basis. CROs offer a number of advantages to their clients, including a reduction in the cost of clinical trials, a shortened time to market for new drugs, and access to expertise and resources that the client company may not have internally.
1. Cost savings: Clinical trials are expensive, and working with a CRO can help to reduce the overall cost of the trial. CROs have economies of scale and can often negotiate better rates with suppliers than a pharmaceutical company could on its own. In addition, CROs are often able to complete clinical trials faster than a pharmaceutical company, which can further reduce the cost of the trial.
2. Time to market: One of the biggest advantages of working with a CRO is the shortened time to market for new drugs. CROs are often able to complete clinical trials faster than a pharmaceutical company, which can help to get new drugs to market sooner. In addition, CROs can often help to streamline the regulatory approval process, which can further shorten the time to market.
3. Access to expertise and resources: CROs have a wealth of expertise and resources that pharmaceutical and biotechnology companies may not have internally. This includes access to experienced clinical research staff, state-of-the-art facilities, and the latest technology. Working with a CRO can give pharmaceutical and biotechnology companies access to these resources and help to ensure that their clinical trials are of the highest quality.
4. The Different Types of Contract Research Organizations
A contract research organization (CRO) is a company that provides services to the pharmaceutical, medical device, and biotechnology industries in the form of research and development, as well as other drug development services.
There are four main types of CROs: full-service, functional service, clinical research, and academic research organizations.
Full-service CROs offer a complete range of drug development services, from preclinical research to clinical trials and post-marketing surveillance. These companies typically have their own in-house staff of scientists and clinicians, as well as access to extensive laboratory and clinical facilities.
Functional service CROs provide specialized services in one or more areas of drug development, such as preclinical research, clinical trials, regulatory affairs, or market research. These companies typically do not have their own in-house staff or facilities, but contract with outside providers for these services.
Clinical research CROs conduct clinical trials on behalf of pharmaceutical, medical device, and biotechnology companies. These companies typically have their own in-house staff of clinicians and access to extensive clinical trial facilities.
Academic research organizations are typically affiliated with universities and medical schools. These organizations conduct basic and applied research in a wide variety of scientific disciplines, including drug discovery, preclinical research, and clinical trials.
5. How to Choose the Right Contract Research Organization
Choosing the right Contract Research Organization (CRO) is a critical decision for any company in the life sciences industry. There are a number of factors to consider when making this decision, and no one-size-fits-all solution. The following are five key considerations when choosing a CRO:
1. Services Offered
The first consideration is the services offered by the CRO. Does the CRO offer the services you need? For example, if you are looking for a CRO to conduct a clinical trial, you will want to make sure the CRO has experience in conducting clinical trials.
2. Location
The second consideration is location. Where is the CRO located? If you are looking for a CRO to conduct a clinical trial in the United States, you will want to make sure the CRO has a location in the United States.
3. Cost
The third consideration is cost. How much does the CRO charge for its services? You will want to get quotes from several CROs to compare costs.
4. References
The fourth consideration is references. Does the CRO have references from companies that have used its services? You will want to contact the references to get their opinion of the CRO.
5. Reputation
The fifth consideration is reputation. What is the CRO's reputation in the life sciences industry? You can check with industry associations to get their opinion of the CRO.
Making the decision to use a CRO is a critical decision for any company in the life sciences industry. The above are five key considerations when choosing a CRO.
6. The Future of Contract Research Organizations
#The contract research organization (CRO) industry has been in a state of flux for the past few years. The industry has seen a consolidation of players, as well as an influx of new CROs, many of which are focused on specific therapeutic areas or disease states. This has led to a more competitive landscape, with CROs vying for the attention of pharmaceutical and biotechnology companies that are looking to outsource their clinical research.
#The future of CROs will be defined by a few key trends. First, there will be a continued focus on specialization. As the industry becomes more competitive, CROs will need to differentiate themselves by becoming experts in specific therapeutic areas or disease states. This will allow them to better meet the needs of their clients and win more business.
#Second, CROs will need to become more efficient in their operations. With budgets for clinical research becoming tighter, CROs will need to find ways to do more with less. This may mean investing in technology and automation, as well as streamlining their processes.
#Third, CROs will need to focus on providing added value to their clients. This may come in the form of data analytics, patient recruitment, and other services that go beyond simply conducting clinical trials.
#Finally, CROs will need to be prepared for the regulatory changes that are coming down the pipeline. The new FDA regulations for clinical trials, as well as the requirements for electronic data submissions, will require CROs to make some changes to their operations.
#The future of CROs is likely to be defined by these trends. Those that are able to adapt and change will be the ones that thrive in the years to come.
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