CRO industry grows as increasingly complex R&D trends demand advanced expertise
Among today’s CRO, R&D trends, precision-based medicines and immunotherapies for smaller populations and treatments for rare diseases are driving innovation. Aside from the exorbitant costs tied to development, these treatments require advanced and integrated expertise. In an effort to contain costs and shorten development timelines, pharma and biopharma firms increasingly outsource many services associated with the development of today’s complex therapies into the hands of CROs.
It’s not just complex therapies, but also combination regimens, as well as delivery systems and companion diagnostics that require expert development strategies and protocols. Today, CROs need to be faster, smarter, and more responsive to accommodate these needs. Managing complexity continues to be a top priority for CROs.
The global CRO market, inclusive of early- and late-stage development services is forecasted to grow at a CAGR of 9.8% over the period 2014-2019, according to a recent report published by Infiniti Research Ltd.