A "CRO" is a clinical research organization. There are literally hundreds of CROs worldwide employing a workforce of nearly 100,000 professionals. In 1992, estimated CRO market size was $1 billion while today that number is over $6 billion and growing.

CROs provide independent product development services primarily for the pharmaceutical, biotechnology and medical device industries. Companies in these industries outsource product development services to CROs in order to manage the product development process more efficiently and cost-effectively, and to maximize the benefits in time and profit of patient-protected products.

The CRO industry has evolved from providing primarily preclinical services or single- service support in clinical monitoring and data management to a full-service industry offering services from the earliest stages of development through clinical trials and commercialization of products.

CROs contribute to a large percentage of all products developed worldwide. Their continued success is reliant on high ethical and professional standards, and compliance with Good Clinical Practice (GCP) and Good Laboratory Practice (GLP) guidelines as prescribed by the regulatory authorities.