Blog Information

• Posted By : oncology cro
• Posted On : Sep 24, 2022
• Views : 178
• Category : General
• Description : The increased demand for life science products and services is fueling the growth of the contract research organization market.

Overview

• The growing prevalence of diseases such as cancer and HIV/AIDS, pharmaceutical companies are focused on the CRO's development of new medical devices and therapies to treat these conditions.
  
  As a result, a growing number of clinical trials are being conducted, with an increasing number of cancer drugs being discovered. This in turn is expected to drive the segmental growth.
  
  
  The global CRO's market is segmented based on the type of service. These services include regulatory consulting, early phase development services, and clinical research. In 2021, the clinical research services segment is expected to reach a value of over USD 30.9 billion.
  
  This segment is further subdivided into Phase I, Phase II, Phase III, and Phase IV. The market for clinical trials is anticipated to grow at a CAGR of 7.2% during the forecast period.
  
  
                                
  
  
  
  Collaboration between CRO's and sponsors can be useful in several ways. In some cases, the sponsor may transfer part of its obligations to the CRO's. Under these circumstances, the transfer must be documented and outlined in writing.
  
  The description should include each specific obligation that is transferred. It can also include a general statement that describes all of the obligations. The collaboration should be non-promotional and ethical.