CRO Field's Growth Seen Through R&D Outsourcing, Industry Consolidation
Wednesday, August 26, 2015
Source: Fierce CRO
Thanks to pharma's R&D cost-cutting efforts, the CRO industry will expand at nearly a 10% clip through 2019, a report says, citing trends many industry-watchers will have noticed so far this year, in the months since the report came to light.
The main growth driver, the December report said, is the increase in pharma companies looking outside of their organizations for R&D work in an effort to better focus on their own areas of expertise. Issued by analysts at TechNovio, the report predicts the overall CRO industry to grow at a CAGR of 9.38% over the next four years.