The Rise of CRO (Clinical Research Organization)
IN RECENT YEARS,
ARE LARGER AND LARGER SHARE OF CLINICAL TRIAL
SPONSORS HAVE OUTSOURCED TO CROS
WHY THE CHANGE?
Contract resource organizations (CROs) are becoming increasingly central players in the clinical research industry. More and more, sponsors are choosing to outsource due to challenges with patient recruitment and increasing trial complexity stemming from trends like the growing demand for orphan drugs. To illustrate this shift, in 2013 37% of Phase I-IV trials were outsourced compared to 45% in 2017. In the coming years, 50% of Phase I-IV trials are expected to be outsourced.
CROs are also getting a larger and larger slice of a larger pie. In conjunction with CRO growth is the total clinical trial market size. In 2013, the clinical trial market was $49.67 billion, and of that, CROs took home a substantial $18.38 billion. However, in 2017, the market size expanded to $61.16 billion and CROs took away an even more impressive $27.52 billion.
Growth drivers in the CRO clinical trial market
What are the key factors contributing to these developments? A primary reason is that CROs increasingly possess the expertise and resources necessary to manage the challenges facing modern clinical research. As clinical trial go global, researchers face emerging difficulties with patient recruitment and site management. On top of this, personalized medicine, an increase in adaptive trial design, and a growing market for orphan drugs make conducting a trial is more complicated than ever. Regulatory requirements also play a role and CROs know how to implement trial designs that yield the evidence that regulatory bodies demand.
With a bigger clinical trials market and increased outsourcing, it’s an incredible time for CROs. View this infographic now to get a clearer view of CRO trends and industry changes. For other useful information about developments in the clinical trial industry, be sure to check out our other infographics. Medrio equips CROs with an eClinical platform that enables them to capitalize on opportunities through speed, ease of use, and a low TCO that helps attract sponsors.