top 20 contract research organizations (cro)
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top 20 contract research organizations (cro)
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- Top 20 Contract Research Organizations (CRO)
- Contract Research Organizations are Emerging as Strategic Partners The pharmaceutical and biotechnology industry is currently forming strategic partnerships with contract research organizations in order to capitalize on their global presence and research expertise. Such agreements with contract research organizations are designed to improve the time to market and reduce costs. The service models of contract research organizations are evolving to become more functional, and now include services which are outsourced based on an analysis of their core competencies. The increasing focus on strategic partnerships will drive growth in emerging outsourcing destinations which have many small niche contract research organizations specializing in different functions. For example AstraZeneca formed clinical pharmacology alliance with Quintiles in 2009. AstraZeneca and Eli Lilly both extended such agreements with BioFocus. These partnerships help biopharmaceutical companies to reduce the time of approval by approximately one month and reduce costs by about 15–20%. Pharmaceutical companies will therefore rely on contract research organizations throughout the world to enhance the strength of their product pipeline by bringing drugs to approval faster Increasing Financial and Regulatory Pressures on Western Pharmaceuticals to Continue to Drive Drug Discovery Research Market Growth in India and China The pharmaceutical industries in the US and Europe are facing severe financial constraints which are expected to worsen in the coming years. Pharmaceutical companies are under increasing pressure to reduce expenditure due to the increasing
- cost of introducing new molecular entities (NME), which in 2008 stood at more than $3 billion, tightening Food and Drug Administration (FDA) regulatory issues, blockbuster drugs worth more than $100 billion set to expire by 2014 and limited pipelines. In an interview with GBI Research, Laurene Isip, Head of Corporate Communications at Covance Inc, said “Facing the loss of billions in annual sales due to key product patent expirations, many pharmaceutical companies are under significant pressure to cut costs. As a result, some companies have responded by restructuring their R&D organizations and others have looked to new outsourcing models, including alliances and partnerships with Contract Research Organizations (CROs), in order to develop a faster, more efficient drug development process.” Such pressures are expected to encourage companies to perform R&D activities, a major expense, in low-cost countries such as India and China. For further details, please click or add the below link to your browser: http://www.gbiresearch.com/Report.aspx?ID=Top-20-Contract-Research-Organizations-CRO-Asia-Pacific-Especially-India-and-China-Positioned-to-Benefit-from-Rising-Financial-and-Regulatory-Pressures-in-Western-Pharmaceutical-Markets&ReportType=Industry_Report&coreindustry=ALL&Title=Pharmaceuticals_and_Healthcare&CompanyID=ssrve
- India and China Attract Increased Contract Research Outsourcing due to Competitive Benefits and Increased Regulatory Compliance The US and Europe dominate the contract research outsourcing market and account for the majority of clinical research activities. However, this trend is changing with the emergence of regions such as Central and Eastern Europe, Latin America, India and China as preferred locations for outsourcing. Over the last decade, India and China have developed significant capabilities in drug discovery research, and considerable capabilities in Phase I and II clinical trials. Both countries are able to provide significant cost savings in the range of 60–70% for discovery research and clinical trials. With discovery research occupying close to one-third of R&D expenditure for the Western pharmaceutical industry, outsourcing to low-cost countries is a logical cost saving strategy. Such regions provide a cost advantage, improved patient enrollment and expert personnel. The emerging regions are more cost effective with comparable quality standards to developed regions such as the US and Europe. However, emerging countries compete amongst themselves on parameters such as experience in therapeutic areas, the skills sets personnel involved in clinical trials, and government support. All the countries in developing regions have aligned clinical research regulations in accordance with international standards and requirements which allow them to conduct clinical trials and research on behalf of pharmaceutical companies in developed countries. Therefore, pharmaceutical and biotechnology companies will
- increasingly outsource to emerging countries in order to benefit from the cost and time reductions and the expertise offered by personnel, in addition to emerging countries’ compliance with international standards such as the Good Laboratory Practices (GLP) and Good Clinical Practices (GCP). Contract Research Outsourcing Market to Continue to Grow at a Rate of 12% GBI Research expects the contract research outsourcing market to increase at a rate of 12% during 2010–2017. The growth in the market will primarily be driven by increased demand from biopharmaceutical companies. The biopharmaceutical industry is currently facing challenges such as declining R&D productivity, patent expiries and generic competition, which have increased the pressure on industry resources, encouraging companies to look for ways to increase efficiency. Biopharmaceutical companies are also under pressure to bring products to market more quickly in order to maximize profits. The market will also be driven by an increase in the outsourcing of clinical trials to emerging regions. Clinical trials account for the largest share of R&D expenditure in the industry. In addition, the increasing complexity of clinical trials and stringent safety requirements by regulatory bodies across the world will drive pharmaceutical industries to capitalize on the expertise of contract research organizations. A significant number of merger and acquisition deals took place in recent years. For instance, in May 2011, Kendle International was acquired by INC Research for
- $232m. INC Research also acquired MDS Pharmaceutical services. Furthermore, PharmaNet, earlier acquired by JLL Partners, was recently sold to inVentiv Health Leading business intelligence provider, GBI Research, has released its latest report, “Top 20 Contract Research Organizations (CRO) - Asia-Pacific, Especially India and China, Positioned to Benefit from Rising Financial and Regulatory Pressures in Western Pharmaceutical Markets”, which provides key data, information and analysis of leading CROs. The report provides a comprehensive insight into the CRO market size, and includes forecasts, profiles of top CROs, drivers and restraints and deals analysis. For further details, please click or add the below link to your browser: http://www.gbiresearch.com/Report.aspx?ID=Top-20-Contract-Research-Organizations-CRO-Asia-Pacific-Especially-India-and-China-Positioned-to-Benefit-from-Rising-Financial-and-Regulatory-Pressures-in-Western-Pharmaceutical-Markets&ReportType=Industry_Report&coreindustry=ALL&Title=Pharmaceuticals_and_Healthcare&CompanyID=ssrve
- Visit our report store: http://www.gbiresearch.com For more details contact: pressreleases@gbiresearch.com North America: +1 646 395 5477 Europe: +44 207 753 4299 +44 1204 543 533 Asia Pacific: +91 40 6616 6782
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Contract Research Organization (CRO) services (CRO) are used in the biotechnology, pharmaceutical and medical device industries. Also, Contract Research Organization (CRO) (CRO) offers various services such as biologic assay development, biopharmaceutical development, preclinical research, Clinical Research, Clinical Trail Management, and Pharmacovigilance. Contract research organizations are mainly designed to minimize cost for companies developing new drugs. Rise in research and development activities which are expected to propel the growth of global Contract Research Organization (CRO) (CRO) market growth. Furthermore, high demand for outsourcing analytical testing and clinical trial services which are expected to boost the growth of global Contract Research Organization (CRO) (CRO) market. In addition to that, increase in regulatory pressure on contract research services will have the positive impact on global Contract Research Organization (CRO) (CRO) market growth.
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U.s. contract research organizations (cros) market analysis
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