Bioavailability and Bioequivalence

Contract Research Organizations

A contract research organization (CRO) is an organization that provides support to the pharmaceutical, biotechnology, and medical device industries in the form of research services outsourced on a contract basis. A CRO may provide such services as biopharmaceutical development, biologic assay development, commercialization, preclinical research, clinical research, clinical trials management, and pharmacovigilance. CROs also support foundations, research institutions, and universities, in addition to governmental organizations. Many CROs specifically provide clinical-study and clinical-trial support for drugs and/or medical devices. CROs that specialize in clinical-trials services can offer their clients the expertise of moving a new drug or device from its conception to FDA/EMA marketing approval, without the drug sponsor having to maintain a staff for these services.

The global contract research organizations services market is assessment to grow at a CAGR of 7.4% from 2016 to 2021 to reach USD 41.86 Billion by 2021. Growing R&D expenditure, increased redistribute of R&D activities, growing demand for redistribute  analytical testing and clinical trial services, and development in the number of clinical trials are habitual to propel the growth of this market. However, developing regulatory pressure on CROs can hinder their market growth to a positive extent.