In the life sciences, a contract research organization or clinical research organization (CRO) is a company that provides support to the pharmaceutical, biotechnology, and medical device industries in the form of research services outsourced on a contract basis. A CRO may provide such services as biopharmaceutical development, biological assay development, commercialization, clinical development, clinical trials management, pharmacovigilance, outcomes research, and real world evidence.

CROs are designed to reduce costs for companies developing new medicines and drugs in niche markets. They aim to simplify entry into drug markets, and simplify development, as the need for large pharmaceutical companies to do everything ‘in house’ is now redundant. CROs also support foundations, research institutions, and universities, in addition to governmental organizations (such as the NIH, EMA, etc.).

Many CROs specifically provide clinical-study and clinical-trial support for drugs and/or medical devices. However, the sponsor of the trial retains responsibility for the quality of the CRO's work. CROs range from large, international full-service organizations to small, niche specialty groups. CROs that specialize in clinical-trials services can offer their clients the expertise of moving a new drug or device from its conception to FDA/EMA marketing approval, without the drug sponsor having to maintain a staff for these services.

Organizations who have had success in working with a particular CRO in a particular context (e.g. therapeutic area) might be tempted or encouraged to expand their engagement with that CRO into other, unrelated areas; however, caution is required as CROs are always seeking to expand their experience and success in one area cannot reliably predict success in unrelated areas that might be new to the organization. "A person or an organization (commercial, academic, or other) contracted by the sponsor to perform one or more of a sponsor's trial-related duties and functions."

It further details the sponsor's responsibilities in its good clinical practice guidelines: The industry is fragmented, with the top 10 companies controlling 56% of the market in 2008 and 55% in 2009. In 2018 global CRO market stood at $38,396.4 mln. and is projected to reach $90,926.3 mln. by the end of 2026, exhibiting a CAGR of 11.4% in the forecast period.

Top CROs by annual revenue

, there was a 15.5% increase in R&D spending from 2015 to 2020. The list of contract research organizations includes the following notable companies worldwide:

  1. Labcorp ($14.00B revenue in 2020)
  2. IQVIA ($11.35B revenue in 2020)
  3. PPD, Inc. ($4.68B revenue in 2020)
  4. Syneos Health ($4.41B revenue in 2020)
  5. Charles River Laboratories ($2.92B revenue in 2020)
  6. ICON PLC ($2.79B revenue in 2020)
  7. Parexel ($2.44B revenue in 2017)
  8. Wuxi Apptec ($1.01B revenue in 2017)
  9. Medpace ($0.92B revenue in 2020)

See also

  • List of pharmaceutical companies
  • Contract manufacturing organization
  • Research organization

References