Explore Life and Inspire Innovation with Contract Research Organizations
Posted Oct 25 2012 11:53am
The global economic crises resulted in most of the businesses pinching their pennies just to keep themselves stay floated, and the drug development sector is no exception to this. However at least there is one field of bio technology sector – the contract research organizations which is on exemplary rise. CROs showed their rise first in the biotechnology industry in late 1970’s and rapidly took on a vital role from pre-clinical and drug discovery to drug manufacturing, clinical trials and marketing also. As per a survey, the clinical research organisation industry was growing at incredible rate of 12% every year, however the data from the past few years showed a substantially peak annual growth rate of around 17%.
Contract research organization on Its Rise!
The dept and number of connections amid the contract research organizations and drug manufacturers has grown to a great extent. They now operate their own match making websites. With number of companies and drug consultants adding themselves every week, they have now become one of the leading and fastest growing professionals all across the internet. The kind of associations that the CROs make is also changing now. While the pharmaceutical firms earlier used to contract on one project only, they have now started outsourcing their entire programs.
The clinical research organisation has really become a fixed and permanent supplier of many functions. With the recent budgetary pressure, now when the larger pharmaceutical companies are under, there is great shift to additional strategic outsourcing, where the CROs are not just service providers, but are full service collaborators also.