A CRO’s is a private, non-profit corporation that performs clinical research functions for pharmaceutical, biotech, medtech, and university sponsors. They also provide research support services to government organizations, foundations, and other non-profits.
During the past decade, contract research organizations have expanded their activities to the entire drug trial process. This includes performing toxicology evaluations, conducting clinical trials, and testing tissue engineering repairs in targeted disease models.
CRO’s have emerged as a critical bridge between the discovery and launch of a drug substance. They have proven beneficial to life sciences organizations of all sizes. They provide a variety of specific services and full-service offerings, such as data management and clinical trial planning. They are also well-equipped with the resources to move products through the regulatory approval process.
Contract research organizations are gaining popularity as a result of their ability to reduce the workload of trial sponsors, increase efficiency, and improve trial timelines. They provide valuable services to life sciences organizations of all sizes, from small startup companies to international multi-nationals.
Increasing demand for new drugs and therapeutics will create ample opportunities for Contract Research Organizations (CROs) to increase their global business. In addition, the market is expected to witness growth in emerging economies, owing to their high prevalence of chronic diseases.