Now is an exciting time to be in the contract research market of the life science industry. Challenges and opportunities faced by drug developers have created an environment of growing demand for the services of contract research organizations (CROs) such as clinical research organizations, site management organizations and central labs.
Consequently, the CRO market has undergone tremendous growth. As drug developers in the pharmaceutical, biotechnology and generics market search for new tools and solutions to overcome their own challenges, they create new business opportunities for contract service providers.
However, segments of the CRO market are nearing maturation. As this happens, competitiveness will increase in some sectors as the aggressiveness with which firms vie for customers intensifies. As a result, managers face increasing difficulty maintaining and growing profits.
This document is a strategic analysis presenting a comprehensive overview of the contract research market. It is divided into three sections.
The first section addresses critical issues affecting the contract research market. The second section discusses the current state of the contract research market. The third section describes the future of the contract research market.
Throughout, future opportunities in the CRO market are identified and ways to improve profitability are presented.
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