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Contract Research Organizations Set to Experience Rapid Growth as Development Costs for New Drugs Continue to Rise
Date:5/15/2012

FARMINGTON, Conn., May 15, 2012 /PRNewswire-iReach/ -- Global Information Inc. is pleased to announce two significant new reports on Drug Development:

Contract Research Organizations Market to 2018
The Contract Research Organizations industry grew at the rate of 12% from 2009 to 2010 according to GBI Research's new market research report, Contract Research Organizations Market to 2018: Public-Private Partnerships to Strengthen Research Capacities and Advance Clinical Development Programs. This April 2012 report provides a comprehensive insight into the size of the CRO market, and includes forecasts, key reasons for outsourcing, technology developments affecting CRO's, public private partnerships, profiles of top CROs, drivers and restraints and deals analysis.

All the companies are looking to cut down the time for launch of drugs along with a reduction in the expenditure on R&D. GBI research estimates that the global R&D outsourcing market in 2010 was 25.3% of the total pharmaceutical R&D expenditure. The expenditure is estimated to increase at the rate of 5% annually and is expected to reach 37.1% of the total R&D expenditure by 2018.

An Executive Summary for this report and a free sample of the full document are available at http://www.giiresearch.com/report/gbi238358-contract-research-organizations-cros-market-2018.html

Outsourcing in Drug Development: The Contract CRO, Clinical Trial Lab and EDC Market
Estimates put the cost of developing and bringing a drug to market at over $1.3 billion. As drug development may take as long as 15 years, major pharmaceutical marketers continue to outsource stages of development,
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SOURCE Global Information, Inc.
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