Informing the pharmaceutical drug development, manufacturing and commercialization industry. Cary, NC – March 7, 2017 – Industry Standard Research (ISR) today announced the release of its latest CRO market report titled; 2017 Edition of the CRO Market Size Projections: 2016-2021. This 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, publically available sources combined with data derived from ISR’s proprietary market research efforts. ISR uses a “top-down” approach to market sizing for the CRO market by looking at overall R&D spending, splitting out the Research from the Development, isolating the Phase I-IV market, and applying the outsourcing percentages gained from ISR’s proprietary market research.
“After several years of producing this report and watching CROs enter and exit the public markets, it is vital to use a methodology that combines both public and proprietary data,” explained Andrew Schafer, President at Industry Standard Research. Schafer continued, “For example, 2015 was a banner year for VC investments into biotech/emerging companies, we saw a strengthening of the preclinical pipeline in 2016; and ISR’s primary research data point towards a continued increase in outsourcing penetration.”
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/functional lines (Monitoring, Data Management, etc.). “The past twelve months have been interesting to watch in terms of how Wall Street has treated CROs. For the first time in a while, most of the larger public CROs lagged the DJIA from March 2016 to March 2017 despite delivering some solid topline growth. From 2016 to 2021, ISR is projecting the CRO market will grow at a 6.8% average annual growth rate,” added Schafer.
For more information on ISR’s 2017 Edition of the CRO Market Size Projections: 2016-2021 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.