Expansion In The Contract Research Organizations Market through Drug Discovery
Added: (Mon Dec 31 2018)
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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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