Navigation Links
Contract Research Outsourcing Market to Exceed $26.2 Billion by 2012, According to a New Report by Global Industry Analysts, Inc.
Date:10/22/2008

Contract Research Outsourcing (CRO), which came into being in the seventies, evolved into an essential component of pharmaceutical market scenario. Demand for CRO services is forecast to increase with mounting pressure on pharma and biotech companies to lower costs and augment productivity. World market for Contract Research Outsourcing is projected to exceed $26.2 billion by the year 2012.

San Jose, California (PRWEB), October 22, 2008 -- Contract Research Outsourcing (CRO) has emerged as a topic of great interest in the global pharmaceutical and biotechnology markets. Patent expiries, heightened competition in generic drug space, and dwindling drug discoveries necessitate research and development (R&D), innovation, and marketing of new pharma and biotech products to combat price fixing and cost escalations. Smaller product life spans, worldwide regulatory challenges, and the increasingly slim deadlines for clinical development magnify in-house R&D expenditure and affect productivity. The concept of CRO emerged as a means to control in-house R&D costs, expand capacities, and improve core skills. Contract research organizations now offer a whole array of expert services ranging from pharmacology, pre-clinical safety evaluation, clinical trial management, study design, statistical analysis, regulatory services, and data collection to product support. Over the past 15 years, CRO services expanded to encompass all aspects of the drug development process. Outsourcing of contract research is now close to 50% vis-à-vis 5% of early1990s.

Global Contract Research Outsourcing (CRO) market revenues totaled an estimated US$15.9 billion in 2007. Revenues in the US, the largest market, are projected to exceed US$10 billion in 2011. Europe is poised to post the fastest annual growth rate in terms of revenues over the years 2000 through 2010, at a CAGR of 17.21%, driven mainly by favorable growth in Eastern European nations. Clinical Research is the largest service segment in the worldwide CRO market with revenues estimated at US$11.7 billion in 2008, while CRO market for drug discovery is poised to grow at a CAGR of 11.24% over the years 2000 through 2010. Though US and Europe top the global CRO market with an estimated share of 48% and 29% respectively, investment is increasingly favoring emerging markets in Central and Eastern Europe, Asia-Pacific, and Latin America. These markets offer the potential to conduct world-class R&D spearheaded with cost advantages.

CRO industry is highly fragmented with over 1100 players. Inevitably, competition is intense among companies to differentiate and capture the attention of a sponsor. Top eight companies account for a sizable share of market revenues. Select players operating in the industry include Criterium Inc., Covance Inc., Encorium Group Inc, ICON PLC, Kendle, MDS Inc, Pharmaceutical Product Development Inc, Parexel, PharmaNet, PRA International, Quintiles, Bio Analytical Research Corporation, Calvert Laboratories Inc., CentraLabS Clinical Research, Charles River Laboratories Inc., Huntingdon Life Sciences Research Inc., nTouch Research Corporation, PharmaTrials Inc., Radiant Research Inc, and Research Solutions LLC, among others.

"Contract Research Outsourcing: A Global Strategic Business Report" published by Global Industry Analysts, Inc., analyzes the global market with hard-to-find data and analytics for key regional markets such as the United States and Europe, along with rapidly growing markets such as Asia. The report provides a comprehensive review of market trends and issues, drivers, players, recent developments, mergers, acquisitions, alliances and other strategic industry activities. Analytical estimates and projections are presented in terms of annual revenues in US$ over the years 2000 through 2010. Long-term projections are presented for the years 2011 through 2015. Service segments independently analyzed include Drug Discovery and Clinical Research.

For more details about this research report, please visit http://www.strategyr.com/Contract_Research_Outsourcing_Market_Report.asp.

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press@StrategyR.com
Web Site http://www.strategyr.com

###

Read the full story at http://www.prweb.com/releases/research_outsourcing/contract_CRO/prweb1503274.htm


'/>"/>
Source: PRWeb
Copyright©2008 Vocus, Inc.
All rights reserved  

Related medicine news :

1. Global Pharmaceutical Contract Manufacturing Market to Reach Over $31 Billion by 2012 According to a New Report by Global Industry Analysts, Inc.
2. Sikorsky Aircraft Announces Contract with Boston MedFlight for S-76C++(TM) Helicopter
3. VIASPACE Subsidiary Wins $786,000 U.S. Navy Contract
4. Stuart Chesky, DO, JD, Ohio KePRO Medical Director, Appointed to Ohio Joint Legislative Study Commission on Most Favored Nation Clauses in Health Care Contracts
5. Sechrist Industries, Inc. Awarded Premier Sole-Source Contract for Hyperbaric Oxygen Chambers
6. National Dental Insurer United Concordia to Receive $660 Million Contract From U.S. Department of Defense
7. Wyle Key Part of Winning Team for Marshall Space Flight Center Occupational Health Services Contract
8. Turner Universal Awarded Contracts Totaling $227 Million to Manage Construction of Two Tennessee Healthcare Facilities
9. ACS Signs $27 Million Contract with Alaska to Transition Fiscal Agent Services for State Medicaid Program
10. Environmental Tectonics Corporations Sterilization Systems Group Announces the Receipt of Three New Contracts
11. NIAID awards contracts to search for protein markers of disease
Post Your Comments:
*Name:
*Comment:
*Email:
Related Image:
Contract Research Outsourcing Market to Exceed $26.2 Billion by 2012, According to a New Report by Global Industry Analysts, Inc. 
(Date:6/25/2016)... , ... June 25, 2016 , ... "With 30 hand-drawn ... specific project," said Christina Austin - CEO of Pixel Film Studios. , ProHand ... all within Final Cut Pro X . Simply select a ProHand generator and ...
(Date:6/25/2016)... ... ... On Friday, June 10, Van Mitchell, Secretary of the Maryland Department of ... recognition of their exemplary accomplishments in worksite health promotion. , The Wellness at Work ... Symposium at the BWI Marriott in Linthicum Heights. iHire was one of 42 businesses ...
(Date:6/24/2016)... ... June 24, 2016 , ... June 19, 2016 is World ... with chronic pain and the benefits of holistic treatments, Serenity Recovery Center ... with Sickle Cell Disease. , Sickle Cell Disease (SCD) is a disorder of the ...
(Date:6/24/2016)... ... 24, 2016 , ... Dr. Amanda Cheng, an orthodontist ... has extensive experience with all areas of orthodontics, including robotic Suresmile technology, ... , Micro-osteoperforation is a revolutionary adjunct to orthodontic treatment. It can be used ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... ... today at the Clinical Decision Making in Emergency Medicine conference in Ponte Vedra ... authored journal articles published in Emergency Medicine Practice and Pediatric Emergency ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... June 24, 2016  Consumers have taken a ... have placed more emphasis on patient outcomes. ... programs in the pharmaceutical industry have evolved beyond ... pharmaceutical companies are focusing on becoming more patient-oriented ... products and services that improve health. ...
(Date:6/24/2016)... , June 24, 2016 ... Markets has announced the addition of the " ... offering. This ... and provides an updated review, including its applications in ... the total market, which includes three main industries: pharmaceutical ...
(Date:6/24/2016)... and SAN CLEMENTE, Calif. , June 24, ... -based mobile pulmonary function testing company, is now able to perform ... developed by ndd Medical Technologies , Inc. ... in hospital-based labs.  Thanks to ndd,s EasyOne PRO ® , ARL ... can get any needed testing done in the comfort of her ...
Breaking Medicine Technology: