A CRO's is a company that provides support to the pharmaceutical and biotechnology industries in the form of research services outsourced on a contract basis. Services provided by CROs can range from the management and analysis of clinical trials to regulatory affairs and market research. The global CRO's market is expected to grow from $26.8 billion in 2016 to $32.9 billion by 2021, at a compound annual growth rate (CAGR) of 4.2%, according to a report by Market sand Markets. The use of CRO's has become increasingly popular as drug development costs have risen and the industry has become more complex. Pharmaceutical and biotechnology companies are under pressure to bring new drugs to market quickly and efficiently, and outsourcing to CROs can help them to do so. CRO's can also provide access to expertise and resources that may be lacking in-house. CROs can be classified into two broad categories: full-service CROs and specialty CROs. Full-service CROs offer ...
Contract Research Organization News