Informing the pharmaceutical drug development, manufacturing and commercialization industry
Cary, NC – February 2, 2016 – Industry Standard Research (ISR) today announced a new addition to its Market Analysis suite of reports. The “2016 Edition of the CRO Market Size Projections: 2015-2020” report provides readers with a comprehensive assessment of the global market for CRO services. As biopharma companies continue to increase clinical development outsourcing levels, it is imperative for anyone interested in the clinical outsourcing industry to understand how the market is structured.
This report was compiled using secondary, publicly available sources combined with data derived from ISR’s proprietary custom market research efforts. ISR uses a “top-down” approach to market sizing for the CRO market by looking at overall R&D spending, then splitting out the Research from the Development, and then looking at the Phase I-IV market, and applying outsourcing percentages.
“The top-down approach we have adopted works well for the CRO industry. Even though we have more public CROs today than we had several years ago, and hence more transparency into their financial condition, we fundamentally believe keeping abreast of the macro trends is vitally important to determining an addressable market,” explained Andrew Schafer, President at Industry Standard Research. Schafer continued, “For example, we have seen a tremendous influx of capital into small biopharma companies via VC-backed investments over the past two years and, as a result, we have increased the overall R&D spending apportioned to this segment of the market.”
In the report, ISR analyzes and presents the CRO market across various segments such as: Phase (Phase I, Phase II, Phase III, and Phase IV), Regional geographies, and Service lines (Monitoring, Data Management, etc.). “Over the past twelve months it has been good to be a CRO. With the Dow Jones Industrial Average down ~10%, the vast majority of public CROs have added, some substantially, to their market capitalizations. Going forward ISR is projecting the CRO market will increase at rates between ~6% and ~8% annually,” added Schafer.
For more information on ISR’s “2016 Edition of the CRO Market Size Projections: 2015-2020” report, please visit ISR’s report page.
About Industry Standard Research
Industry Standard Research is the premier, full service market research provider to the pharma and pharma services industries. With over a decade of experience, ISR delivers an unmatched level of domain expertise. For more information about ISR’s off-the-shelf intelligence and custom research offerings, please visit the company’s website at www.ISRreports.com, email info@ISRreports.com or follow ISR on Twitter @ISRreports.