Trends, challenges and competition for US contract research outsourcing in the new decade
While the economic downturn had taken a toll on most markets, the US contract research outsourcing (CRO) market bucked the trend to post impressive growth rates of 8.5% in 2009 to a value of $11.43 billion. This is expected to be worth $20.09 billion by 2017, with oncology being the biggest revenue contributor, according to a new report from Frost & Sullivan.
The slowdown in funding for early-stage projects has, no doubt, dampened the market's prospects for the next three to four years; but, this lack of funding has also restricted companies from investing in in-house clinical trials, creating opportunities for CROs.
Optimism about continued growth
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