The continued demand for clinical research professionals can be attributed to two main factors. The first is a steady need for better, faster-working drugs. The second is the fact that contract research organizations, also known as clinical research organizations or CROs, offer pharmaceutical companies a wealth of advantages. CROs conduct clinical trials and carry out other steps in the development of products for pharmaceutical, biotechnology, and medical device companies.
In past years pharmaceutical companies increased outsourcing to CROs, creating mutual benefits for the two sides and leading to the expansion of CROs, as well as the need for qualified clinical research professionals. The estimated global market size, according to the Association of Clinical Research Organizations, is about $17.8 billion and is expected to continue its growth at a rate of about 14% per year. CROs employ clinical research professionals educated in life and medical sciences such as pharmacology, biochemistry, immunology, physiology, and nursing. They also look for database managers and marketing and management professionals.
It is advantageous for companies to outsource to CROs for several reasons, not the least of which is cutting costs and time from the overall process of product development. The International Biopharmaceutical Association estimates that it takes around 12 years for an experimental drug to go through every phase of development and reach the public. By outsourcing clinical trials to CROs, pharmaceutical companies can cut years and dollars from the equation.
Another reason is that by outsourcing companies enjoy the benefits of the work of experts in various fields without having to employ them. They also reap rewards from the latest high-tech devices without having to own them. CROs provide expertise and equipment for other companies, not only in sciences such as chemistry but also in areas like marketing and data management. In addition, CROs are knowledgeable about clinical trial regulations in all of the countries in which they operate and about the diseases that are most widespread in those places.
In other words, CROs continue to thrive because their services allow pharmaceutical, biotechnology, and medical device companies to function more efficiently for less than it would cost if the companies performed them internally. And while pharmaceutical companies have focused their efforts on fewer aspects of product development, CROs have expanded their services to include the early and late stages of development rather than just clinical trials.
It appears that the CRO industry will only continue to grow in size and revenue as pharmaceutical companies remain dependent on them for cost and time effectiveness. With such growth there will be a continued demand for clinical research professionals, including those with backgrounds in life sciences, computer sciences, databases, engineering, marketing, management, and medical professions.
For more information on careers in clinical research organizations, refer to the Association of Clinical Research Organizations and the Association of Clinical Research Professionals.
