The industry experienced a period of aggressive growth over the past five years, benefiting from an aging US population and an expansion in private health-related research and development (R&D) expenditures. As a result, industry revenue is expected to grow in the five years to 2016. Over the next five years, the industry will continue to benefit from increased R&D spending and an aging US population in increasing need of disease treatment. The industry will also benefit from rising demand from biopharmaceutical companies. IBISWorld forecasts that industry revenue will increase over the five years to 2021.
This industry includes companies that provide research services on a contract basis to the pharmaceutical and biotechnology industries. Contract research organizations (CRO) provide biopharmaceutical development, preclinical research, clinical research and clinical trial management. Many CROs specifically provide clinical study and clinical trial support for drugs or medical devices.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.