CROs Offer Promise of Innovative, Safe and Effective Drug Development, Says Frost & Sullivan
News May 03, 2013
Pharmaceutical and biotech companies are outsourcing research in order to develop innovative products that meet the rising demand for therapeutics across a range of diseases.
The willingness of contract research organizations (CROs) to invest in facilities to conduct clinical trials is further advancing market prospects.
New analysis from Frost & Sullivan (http://www.healthcare.frost.com), Analysis of the European Contract Research Outsourcing Markets, finds that the markets earned revenues of approximately $6.07 billion in 2011 and estimates this to reach $11.54 billion in 2018. Phase III clinical trials account for the largest share of the total CRO market in Europe.
The promise of novel therapeutic options that offer enhanced efficacy and safety is underlining the appeal of CROs for the pharma and biotech industry.
CROs help support greater innovation and improvements in chemical and biological drug development. They address the urgent need for enhanced therapeutics in cardiovascular, oncology, autoimmune, central nervous system (CNS), infectious, endocrine and metabolic disease areas.
“Besides functionality, drugs are also tested for their efficacy and safety to ensure they meet the needs of patients across different ethnic groups and climatic zones,” states Frost & Sullivan Research Analyst Deepika Pramod Chopda. “The globalised nature of CROs enables them to facilitate the process of drug development for their clients.”
CROs offer complete and cost-effective solutions for pharma and biotech companies that are often challenged by high development costs and lengthy approval periods.
CROs could potentially offer services in drug development as well as clinical trials and testing. CROs currently account for nearly two-thirds of the Phase I to III trials conducted globally.
A key limitation to the seemingly inexorable march of CROs has been the ability of large pharmaceutical and biotech companies to perform R&D and clinical drug testing in-house.
“The availability of specialized research technologies, coupled with an exclusive focus on drug development and testing, will boost the chances of success for CROs and offset the benefits of in-house R&D services,” concludes Chopda.
Chopda continued, “Strengthening outsourcing partnerships and alliances with leading pharmaceutical and biotech companies through strategic long-term contracts will also support the uptake of CRO services.”
Cell Recycling System Offers Therapeutic Entry Point for Rare Disease TreatmentNews
Scientists have demonstrated how an investigational drug works against a rare, fatal genetic disease, Niemann-Pick type C1 (NPC1).READ MORE
Bone Cancer Drug Targets Tumors, Spares Other OrgansNews
A study led by The University of Texas MD Anderson Cancer Center found a drug known as bone metastasis-targeting peptidomimetic (BMTP-11) has potential as a new therapeutic strategy for this devastating illness.READ MORE
Cancer Cells Force Normal Cells to Act Like Viruses, Helping Tumors SpreadNews
Researchers reveal how cancer cells force normal cells to act like viruses – allowing tumors to grow, resist treatment, and spread.READ MORE
Comments | 0 ADD COMMENT
EMBL Conference: European Conference of Life Science Funders and Foundations
Apr 19 - Apr 20, 2018
EMBL Course: Target Engagement in Biology and Drug Discovery
Feb 19 - Feb 23, 2018