Key Findings on CRO Industry

Over at FierceBiotech they've recently summarized some key findings from the Top 10 Contract Research Organizations, which is a report published by Business Insights that examines the competitive landscape of the global CRO industry. Here are some of the issues they've uncovered:

• The CRO market will grow at an annual rate of about 14% over the course of the next 3 years.
• Quintiles leads the CRO market this past year, but the 10 major CROs accounts for 56.1% of the market. There are over 1,100 players in the industry.
• In an attempt to expand services and offerings, it has led to increased alliances, joint-ventures, and other partnership deals.
• Covance is the 2nd largest CRO only trailing Quintiles
• Biomarkers will become an important part of clinical research after the FDA has recommended their usage