The core services offered by CROs to
biopharmaceutical companies include initial drug discovery solutions,
toxicology studies, bio-analytical services, central laboratory, site
monitoring, data management services, vigilance, bio-statistics, study and
development program design and consulting, regulatory affairs and a variety of
post-marketing surveillance services.
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Drug discovery was the
largest segment in the global CRO market, with 33.2% share of the market, as
the pharmaceutical industry has undergone a number of high-profile patent
expiries over the last few years and are looking to infuse a strong drug
pipeline.
Phase III was the second
largest segment in the global CRO market followed by phase ii and then by preclinical
services as the fourth largest segment in the global CRO market.
Phase IV was the fifth
largest segment in the global CRO market; it is smaller as this is the last
stage of the clinical trial.
Phase I was the smallest segment in
the global CRO industry, as this is the earliest phase of clinical trials, and pharma
companies often prefer to carry out this research in house.
The other CRO services segment
accounted for 21% share of the global CRO market. This segment includes various support activities such as
pharmacovigilance, bio-statistics, clinical data management, site management,
monitoring, regulatory services, protocol development and medical writing.
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Asia-Pacific had the highest clinical
research industry growth rate of 15% during 2013 – 2017; this region’s CRO market share is
expected to grow at a CAGR of 17% during 2017 – 2021. This was due to the
presence of fastest growing economies, increasing health care expenditure,
growing patient population and favorable regulatory policies.
CRO research conducted
by TRBC shows that the contract research organization’s industry trend of
manufacturing hydrogen gas from sewage can be a big game changer.
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Business Intelligence Company which excels in company, market and consumer
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researchers in 15 countries globally.
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