There are plenty of options for medical device manufacturers looking for a contract research organization to support their clinical trial.
As smaller companies conduct more trials, the contract research organization (CRO) industry is expected to grow to $64.4 billion by 2027. However, this growth is accompanied by increasing consolidation. The top 5 CROs employ nearly 100,000 people and a single CRO can have thousands of clinical trials in progress at any time.
Consolidation within the past three to five years includes a number of high-profile mergers. These changes can lead to increased costs, internal conflict, difficulties managing change, and more. Our team has encountered these issues when some of our clients have enlisted our help “cleaning up” a clinical trial that has fallen behind or experienced difficulties that prevented the team from moving forward. In this post, we’ll share some of the most common concerns we’ve observed with large CROs.
Topics: Choosing a CRO