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Clinical Research Outsourcing Where are We?
ILogy Healthcare Solutions, July 2008, Pages: 28
The CRO report provides an extensive overview of the clinical research outsourcing industry and the role of CROs in managing clinical trial processes. It gives an in-depth analysis of the current status and prospects of the global CRO market and evaluates the growth of the industry in US, Europe and Asian countries such as India and China, and also the potential of these countries to become clinical research outsourcing hubs. The report takes a look at the implications of adopting newer technologies in the pharma value chain, and provides a brief description about the services offered by major global CROs.
Getting a drug molecule from the laboratory to the market is perhaps one of the most complicated and tedious processes in the pharmaceutical industry. The drug development process is fraught with risks and complications. While the R&D can be elaborate and worth millions of dollars, the process can go on for several years. And yet, only one in several thousand research molecules finally reach the consumer. Although the chances of a new drug reaching the market increase with progressive R&D stages, failure can be met even at the end of the pipeline. For example, the estimated success rate for a drug in the Phase III clinical trials to reach the market is only 50 - 70%. The cost of developing a new drug has also seen a whopping rise in the last few decades, and is now projected to be a staggering US$ 1.25 billion per new molecular entity (NME). Owing to the rapid rise in R&D costs, pharmaceutical companies have adopted different outsourcing strategies in order to contain costs and ensure a faster drug development process.
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