CRO and Sponsor Partnerships
In 2004, it is estimated that almost 42% of all pharmaceutical drug development expenditures will be committed to outsourcing, as compared with 4% in the early 1990s, according to a recent report by Kalorama Information.
This year, the contract research outsourcing market is expected to reach $15.8 billion. Kalorama researchers predict that the amount of pharmaceutical R&D spending headed out of house to research suppliers engaged in drug development work will grow 14% annually for the next few years to reach $28 billion in 2008. The increases forecasted for outsourced spending in the coming years are nearly double the anticipated increase in R&D spending generally.
The contract research market is undergoing significant change as the top players consolidate and companies focus on core strengths.
CROs also are continuing to upgrade their technical capabilities through the acquisition of time-saving technologies, such as voice-response data collection systems and Web-based clinical-trial platforms, Frost & Sullivan researchers say…