CRO Industry Overview

Today I stumbled on this report that highlights the CRO industry. Some of the interesting findings revealed include that the market size for this industry is predicted to reach $24 billion by 2010 and, while there have many consolidations between companies, there are still over 1,100 organizations currently servicing this industry. Also the report stated that market leaders have emerged, such as Quintiles with 14% of the global market share, and combined the five largest companies hold a 45% market share worldwide. In addition CROs and pharmaceutical companies are starting to form strategic partnerships as a competitive advantage, as well as part of a consolidating technique. While the report does offer some predictions and future trends, it will be interesting to see where the industry as a whole will end up in the upcoming years. What are your predictions for the future?