Increased R&D outsourcing by global pharma and biopharma driving CRO business

8 January 2015

Increased outsourcing of R&D activities is one of the main drivers of growth in the contract research organization (CRO) space, according to a report on the CRO market by research firm ReportsnReports.com

The report considered Covance (NYSE: CVD), Parexel (Nasdaq: PRXL), PRA (Nasdaq: PRAH) and Quintiles (NYSE: Q) to be the major players in the market in the period within the report’s scope: 2014 to 2019.

Big companies are now more likely to outsource R&D clinical trial activities to CRO in order to reduce their spend in this area. A shortage of experienced personnel in the CRO market is a main challenge in outsourcing firms, according to the report.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK