Contract research organization (CRO) is an organization that provides services to the pharmaceutical, biotechnology, and biopharmaceutical companies in the form of expertise in research outsourced on a contract model. The global contract research organization market is expected to grow at a CAGR over 7.5% in next 6-8 years. The global CRO market is growing with increasing outsourcing of research and development by pharmaceutical companies, increasing clinical trials across the globe, increasing number of patent expiration and growth in biopharmaceuticals market. There is increase in acquisitions and mergers by the CRO’s in recent years to gain global foothold in the highly competitive CRO market. For instance, in August 2017, LabCorp acquired CRO Chiltern for $1.2 billion, which will become part of the company’s Covance Drug Development business. This will strengthen LabCorp’s Position as a global life sciences company with leading Diagnostics and Drug Development businesses.
Here are the list of 10 best CROs,
1. Charles River Laboratories International Inc (CRL)
Early-stage contract research company, that offers various services such as drug discovery, non-clinical development, and safety testing services across the globe. The company operates its business through three major segments, Discovery and Safety Assessment (DSA), Research Models and Services (RMS), and Manufacturing Support (Manufacturing). The company was established in 1947 and is based in Wilmington, Massachusetts.
2. ICON Public Limited Corporation
ICON public limited company is one of the leading clinical research organization that offers outsourced development services to the biotechnology, pharmaceutical and medical device industries in US, Europe, Ireland and internationally. The company was incorporated in 1990 and is based in Dublin, Ireland.
3. IQVIA Holdings Inc.
IQVIA Holdings Inc., offers integrated information and technology-enabled healthcare services in the Europe, Americas, Asia-Pacific and the Africa. The company operates its business through three business segments, Research & Development Solutions, Commercial Solutions and Integrated Engagement Services. IQVIA was established in 1982 and is based in Durham, North Carolina.
4. Laboratory Corporation of America Holdings (Covance)
Laboratory Corporation of America Holdings offers leading-edge medical laboratory tests and services through a national network of primary clinical laboratories and specialty testing laboratories. The company operates as an independent clinical laboratory company globally. The company has two business segments, LabCorp Diagnostics and Covance Drug Development. LabCorp was founded in 1971 and is headquartered in Burlington, North Carolina.
5. Medpace Holdings, Inc
Medpace Holdings, Inc., is a clinical contract research organization that offers scientifically-driven outsourced clinical development services to the pharmaceutical, biotechnology and medical devices industries across the globe. The company was incorporated in 1992 and is based in Cincinnati, Ohio.
6. Paraxel International Corporation
PAREXEL International Corporation is a leading biopharmaceutical outsourcing services Company that offers medical communications, clinical research and logistics, commercialization, consulting and innovative technology offerings and services for biotechnology, pharmaceutical and medical device industries across the globe. The company operates its business through three major business segments, PAREXEL Consulting Services (PC), Clinical Research Services (CRS), and PAREXEL Informatics (PI). The company was incorporated in 1983 and is based in Waltham, Massachusetts.
7. Pharmaceutical Product Development (PPD)
Pharmaceutical Product Development Inc., is a leading contract research organization, that offers discovery and development of pharmaceutical drugs, compound partnering programs, and post-approval expertise. The company was established in 1985, and is based in Wilmington, N.C.
8. PRA Health Sciences, Inc.
PRA Health Sciences is one of the foremost contract research organization that offers outsourced clinical development services to pharmaceutical and biotechnology companies across the globe. Clinical Research and Data Solutions are two major business segments of the company. The company was previously known as PRA Global Holdings, Inc. and later in July 2014, changed its name to PRA Health Sciences, Inc. The company was founded in 1976 and is based in Raleigh, North Carolina.
9. Syneos Health Inc
Syneos Health, Inc. is an end-to-end, integrated biopharma solutions company in North America, the Asia-Pacific, the Middle East, Europe and Latin America. It operates business through two major business segments, Clinical Solutions and Commercial Solutions. The company is established in 2010 and is based in Raleigh, North Carolina. The company is formed through the merger of INC Research and Inventiv Health and is based in Raleigh, North Carolina.
10. Wuxi Apptec
WuXi AppTec, Inc. is one of the leading contract research and development outsourcing services company that offers services for biotechnology, pharmaceutical, and medical device industries across the globe. The company was previously called as AppTec Laboratory Services, Inc. and in April 2008 changed its name to WuXi AppTec, Inc. The company operates as a WuXi PharmaTech (Cayman) Inc., and was established in 1982 and headquartered in St. Paul, Minnesota with facilities in US and China.