Thursday, March 5, 2009

Tough Economy Slows Down CRO Growth for now

According to this article in Clinical Trials Today recent layoffs in the pharmaceutical industry has slowed down CRO growth in short term, but in the long run improving efficiency and controlling costs will result in more opportunities for CROs.

Oncology is expected to become a huge focus in the future, so CROs with strong oncology franchises should reap the benefits from that trend soon. It is said that the oncology market will grow to approximately $80 billion in global sales by 2012. European CROs are also making headway as the two Italy-based CROs, Phidea and Marvin Research have completed their merger.

What are some other trends that can help boost CRO growth in the near future?

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