Revenues for CROs, like BioKinetic Europe, totalled $21.69bn in 2010, according to Pharma Clinical Trial Services: World Market 2011-2021, published in July 2011.
Leading pharmaceutical manufacturers are increasingly seeking to outsource all stages of the drug development process. The main drivers for CRO revenue growth are the cost advantages of outsourcing and the regional and therapeutic expertise of research service providers.
Richard Lang, pharmaceutical industry analyst, said: “Strong therapeutic experience and significant cost savings are driving Big Pharma to outsource drug development to CROs. Full service CROs will further benefit from multi-billion dollar strategic alliances during this decade. Niche market players will benefit from the increased demand for specialised clinical trial services, particularly in cancer and CNS disorders.”
Visiongain forecasts that the overall pharma clinical trial services market will grow rapidly to 2021. The future of the pharma clinical trial services market appears strong through increasing demand from many therapeutic areas, the report concludes.
For further information about this report and an exec summary please click on:
Outsourcing in Clinical Trials for Nordic Companies, 11-12 September, Copenhagen
BioPartnering Future Europe, 13-16 October, Stockholm