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Contract Research Boom Continues as Pharma Outsourcing Spending Grows at Double-Digit Pace
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Added: 12/15/2003
Type: Summary
Viewed: 1331 time(s)
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Contract Research Boom Continues as Pharma Outsourcing Spending Grows at Double-Digit Pace
The amount of pharmaceutical R&D spending headed out-of-house to research suppliers engaged in drug development work will grow almost 15% annually for the next five years, according to a new study released today from Kalorama Information. The increases forecasted for outsourced spending in the coming years is nearly double the anticipated increase in R&D spending generally.
The new study, Outsourcing in Drug Development: The Contract Research Market from Preclinical to Phase III, found that the established contract research organizations, or CROs, stand to gain the most from these spending increases, but that there are a variety of smaller organizations that are also poised to reap the rewards. So-called site management organizations (SMOs), central laboratories, and even niche players such as data-handling and recruitment companies stand to increase their revenues if not their share.
"Although we’ve seen a big decline in the involvement of academic medical centers in the drug development process in recent years, they are starting to wake up," notes Steven Heffner, Acquisitions Editor for Kalorama Information. "There are now several large academic consortia that are pooling their clout and their highly skilled personnel to give CROs a run for their money."
The new study describes and quantifies the market for contract research, providing statistics on pharmaceutical company spending, revenues by type of organization, market share of various CRO and SMO competitors, outsourced spending by clinical phase, and many other industry benchmarks. It also describes trends in the contract research field, including company strategies, the role of new niche service providers, and the changing nature of clinical trials management and regulation. In addition, the report profiles more than 40 companies supplying various research services to the pharmaceutical sector.
About Kalorama Information
Kalorama Information, an imprint of MarketResearch.com, supplies the latest in independent market research for the life sciences. For more information, contact Steven Heffner at 212-807-2634 or sheffner@kaloramainformation.com, or visit www.KaloramaInformation.com.
About MarketResearch.com
MarketResearch.com is the leading provider of global market intelligence products and services. With over 50,000 research publications from 350 research publishers, we offer instant online access to the world’s most extensive database of expert insights on global industries. Updated daily. For more information, contact Matt Seward at 301-468-3650 x205 or mseward@marketresearch.com, or visit www.MarketResearch.com.
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