Latest Tufts CSDD Impact Report Focuses on CROs
Tufts CSDD report based on data collected and analyzed financial, personnel, and trend data from 18 top public and private CROs.
Between June and August 2022, Tufts CSDD collected and analyzed financial, personnel, and trend data from 18 top public and private contract research organizations (CROs) to inform the industry on the current status of the CRO industry. This information is contained in the November/December 2022 issue of the Tufts CSDD Impact Report, which can be purchased online.
Topline insights into the data include the following:
- Total spending in the drug development industry on contract clinical services is approaching $50 billion in 2022.
- Between 2020 and 2021, the top 10 CROs saw an unprecedented single year growth rate of 17%.
- In 2022, the top 10 CROs captured nearly 70% of spending on contract clinical services.
The Impact report also summarized the problem of terms and definitions regarding sourcing strategies by sponsor companies that use a wide variety of outsourcing models to support their portfolios. A collaboration between Tufts CSDD, ICON, and a consortium of pharmaceutical companies proposed a new framework to differentiate sourcing models. A chart of which is included in the Impact report, along with a fuller discussion in this article appearing on the Applied Clinical Trials website.
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