• SKIP TO CONTENT
  • SKIP NAVIGATION
  • Patient Resources
    • COVID-19 Patient Resource Center
    • Clinical Trials
    • Search Clinical Trials
    • Patient Notification System
    • What is Clinical Research?
    • Volunteering for a Clinical Trial
    • Understanding Informed Consent
    • Useful Resources
    • FDA Approved Drugs
  • Professional Resources
    • Research Center Profiles
    • Clinical Trial Listings
    • Market Research
    • FDA Approved Drugs
    • Training Guides
    • Books
    • eLearning
    • Events
    • Newsletters
    • JobWatch
    • White Papers
    • Patient Education
    • SOPs
    • eCFR and Guidances
  • White Papers
  • Trial Listings
  • Advertise
  • COVID-19
  • iConnect
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Home » CRO Revenue Growth Strong, Topping Consensus Estimates

CRO Revenue Growth Strong, Topping Consensus Estimates

March 22, 2021

CROs grew their revenue by 10.2 percent in the fourth quarter of 2020, topping consensus estimates by 4.3 percentage points, according to Baird, a financial services firm.

Meanwhile, a survey of biopharma executives found that in considering the top three potential benefits of partnering with a CRO, 75 percent of the respondents who used a CRO’s services cited faster cycles in the performance of a clinical trial, while 66 percent cited receiving scientific expertise and 62 percent cited reduced operating costs.

Of the 85 respondents who said their companies hired a CRO, 79 percent said their decision was based on the perceived quality of a CRO’s services as one of the top three reasons to choose a CRO. Sixty-four percent of respondents cited a CRO’s scientific background among the top three reasons, as did 49 percent who considered a CRO’s reputation.

Of the 143 respondents who said they were concerned about using a CRO, 43 percent cited quality, followed by capability and capacity (20 percent), IP protection (15 percent), experience (13 percent) and results control (6 percent).

The survey was conducted by Informa Pharma Intelligence and WuXi AppTec. Read the survey here: https://bit.ly/3twJ1ra.

Upcoming Events

  • 15Apr

    Five Telltale Signs You’re Ready for an Electronic TMF System

  • 26Apr

    MAGI's Clinical Research vConference — Spring 2021

  • 06May

    The World of Post-COVID-19 Clinical Trials: How to Prepare for What’s Coming Next

Featured Products

  • Regenerative Medicine – Steps to Accelerate Development : PDF

    Regenerative Medicine: Steps to Accelerate Development

  • Clinical Trial Agreements — A Guide to Key Words and Phrases : PDF

    Clinical Trial Agreements: A Guide to Key Words and Phrases

Featured Stories

  • Clinical-Trial-Brainstorming

    FDA, Industry Tackle Problem of Including Older Adults in Trials

  • ClinicalTrialNetwork-360x240.png

    National Community-Based Research Network Would Improve Reach of Trials

  • Bottleneck-360x240.png

    Sites Face Trials Bottleneck After Pandemic, But Also Opportunities

  • AsktheExpertsBadge-360x240.png

    Ask the Experts: Genetic Research and IBC Oversight Requirements

Standard Operating Procedures for Risk-Based Monitoring of Clinical Trials

The information you need to adapt your monitoring plan to changing times.

Learn More Here
  • About Us
  • Contact Us
  • Privacy Policy
  • Do Not Sell My Personal Information

Footer Logo

300 N. Washington St., Suite 200, Falls Church, VA 22046, USA

Phone 617.948.5100 – Toll free 866.219.3440

Copyright © 2021. All Rights Reserved. Design, CMS, Hosting & Web Development :: ePublishing