2015 proves the CRO market’s growth holds strong through a sell-off year
You often hear that this is a good time to be in the pharma industry. I think that is especially true of the clinical trial sector. Despite the onslaught of bad press pharma is receiving by both politicians and the general public, advancements in oncology and other serious diseases, coupled with the focus on precision medicine, new technologies, and mergers, will make the next few years an exciting time for the life sciences.
The researchers at ISR Reports seem to agree. A recent report titled 2016 CRO Market Size Projections 2015-2020, paints an exciting and eventful future for the clinical trials market. This market has certainly been one of the best performing of late. In 2015, while the DJIA was down around 10 percent, clinical companies like PRA Health (up 78 percent), INC Research (up 64 percent) ICON (up 19 percent), Quintiles (up 6 percent), and PAREXEL (up 2 percent), all had great years. The reason for the showing should be no surprise to anyone in the pharma outsourcing space: the demand for their services continues to increase.