Informatics in the bioanalytical and contract research market

THE GLOBAL CRO MARKET In today?s life science market, with the strict regulatory framework and ever-increasing drug development costs, establishing strategic partnerships between pharmaceutical and biotechnology companies and CROs has emerged as a critical means to gain and sustain a competitive edge. CROs have become critical contributors to research and development (R&D), clinical trials and manufacturing activities, capable of delivering more volume studies quicker, cheaper and sometimes more efficiently than in-house laboratories. The leading CROs are full service providers operating globally and serving as one-stop-shops for activities, ranging from preclinical through to marketing. In May 2007, Business Insights Ltd. published the study ?The CRO Market Outlook: Emerging Markets, Leading Players and Future Trends?. According to this report, the total CRO market size was estimated at $14bn in 2006 and projected to grow at an annual rate of 14-16% to reach $24bn by 2010. The market is highly fragmented and the total number of CROs worldwide has grown to over 1,100 despite continued consolidation. However, the five largest CROs have increased their market share considerably over the last few years and are estimated to hold 45% of the total market. A major factor that has contributed to the success of some of these large global CROs has been the implementation of market-specific, high-performance laboratory information management systems (LIMS).