Global Healthcare CRO industry is expected to reach USD 45.2 billion by 2022, according to a new report by Grand View Research Inc. With the increasing number of patents expiring, increasing number of partnerships to identify biologics and new compounds and growing R&D costs, drug maker and sponsor companies are under pressure to replace the revenue loss specifically due to generics, which has further made drug development more expensive and complex. Moreover, owing to the increasing incidence rates of chronic diseases such as cancer, Alzheimer’s and other infectious diseases in children, government funding has increased, which have led to increasing R&D activities.
http://www.grandviewresearch.com/industry-analysis/healthcare-contract-research-outsourcing-market
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