OCTOBER 2022LIFE SCIENCES REVIEW6As the complexity, duration, and cost of clinical trials have grown over the last few decades, pharmaceutical and biotech companies have increasingly outsourced this process to contract research organizations (CROs) to achieve various goals.CROs give sponsors the flexibility they need to meet the ever-demanding clinical research objectives and timetables by gaining scale and providing access to deep domain expertise in a particular therapeutic area. In an effort to broaden both specialist expertise and geographic reach to accommodate the sizable Phase III worldwide studies that have become the norm, major CROs are especially well-suited to provide a one-stop shop of service offerings. As a result, there is an increase in demand for clinical studies run by CROs.Moreover, while the pandemic has caused unprecedented disruption in research and clinical trials, it has ushered in a new era of decentralized trials. The long-awaited adoption of digital technologies ensures improved patient care, lowers clinical trial costs, and provides faster outcomes. We have also seen the emergence of an end-to-end CRO-CDMO model, which has been distinguished by the integration of previously separate drug development and manufacturing activities.The Contract Research Organization (CRO) Services market size was $62.75 billion in 2021. The market is projected to grow from $73.38 billion in 2022 to $163.48 billion in 2029 at a CAGR of 12.1 percent.Moving ahead in the future, we believe that the CRO sector's fundamental drivers will remain strong, which will be reflected in M&A activity levels. We anticipate that the CRO market will continue to be driven by the desire to add service capabilities or technologies, geographic coverage, specialist skills, or extend into value chain adjacencies.Let us know your thoughts.EDITORIALTrends Driving the CRO MarketCopyright © 2022 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Email:sales@lifesciencesreview.comeditor@lifesciencesreview.commarketing@lifesciencesreview.com October - 24 - 2022, Vol 03, Issue - 22 (ISSN 2831-8331) Published by ValleyMedia, Inc.To subscribe to Life Sciences ReviewVisit www.lifesciencesreview.com Editorial StaffAaron PierceCarolynn WaltersShirley FaithRussell ThomasVisualizersRonald DonovanDisclaimer: *Some of the Insights are based on our interviews with CIOs and CXOsJeremy WilliamsManaging Editoreditor@lifesciencesreview.comManaging EditorJeremy WilliamsVictor Cruz Clara Matthew
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