The global CRO industry was valued at $34 billion in 2014, and in the next five years, it is expected to reach $60 billion – a 10 percent growth rate per year. The CRO industry is growing at a rapid rate, affecting the pharma industry, biotech companies and academic arenas.
It is estimated in the next 24-36 months that more than 7,000 pharmaceutical companies will be entering human clinical trials, and this number does not include devices, diagnostics and other clinical trial subject matter. Clinical trials are being conducted on virtually every clinical condition. From July 1, 2014 through July 1, 2016, there were 2,449 clinical trials being conducted for cancer research. However, in that same timespan, there were only 744 trials being run for diabetes research.
This lecture will delve into the general industry perspective on clinical trials, diabetes and diabetic research, as well as the overall picture and issues in this growing competitive marketplace that makes up the clinical space. It will also discuss some of the issues and future impact of pediatric regulatory demands and the upcoming onslaught of nutritional supplements entering this clinical space.