The Value of Clinical Research Organizations
Clinical Research Organizations (CROs) play a major role in ensuring safe, ethical clinical trials that help spur the development of new, life-saving drugs and medical devices that benefit millions of patients worldwide. Not only that, but CROs have an enormous, positive impact on the American and global economy.
Here’s a look at just some of the ways CROs contribute to a healthier world, the drug development process, as well as a strong economy worldwide:
- The top five therapeutic areas for CROs are: oncology, the central nervous system, infectious disease, metabolic disorders and cardiovascular disease. Vaccine development is another growing area of research for CROs.
- In 2013, CRO industry revenue was estimated at $21.6 billion. That number is expected to reach $23.6 billion in 2014—representing one-third of drug development spending.
- ACRO member companies employ approximately 100,000 people worldwide and conduct more than 11,000 clinical trials in 115 countries, involving nearly two million research participants.
- ACRO member companies have contributed to the development of all of the top 50 selling biopharmaceutical products globally.
- Our member companies also participate in the global development of the vast majority of new treatments and therapies approved worldwide each year.
Read more about the value of CROs: