In this CRO Report, we analyze public and private company transactions for 2020 and over the past 3 years, evaluate the impact of COVID-19 on the CRO space, deliver insights and trends that CRO business owners should be aware of moving forward, and more.
CRO Report Takeaways:
- CRO industry revenue growth is expected to slow to 4% in 2H 2020 (primarily due to slow 2Q 20ʼ bookings, RFP volume growth and logistical difficulties accessing clinical trial sites and patients) before increasing to 7-9% in 2021-2024.
- Clinical trials other than COVID-related studies were substantially suspended (impaired site access for less emergent studies).
- We have witnessed a slowdown due to decreased R&D spends and shifts from development to research.
- Preclinical work is less sensitive to travel and patient visitations.
- We expect the market to rebound in 2021-2024.
- Preclinical CROʼs are growing the fastest over 2020-2022 due to increased investments in early stage development.
- Charles River Laboratories (CRL) is the dominant player in discovery and early development, contributing to this growth.
- COVID is a contributor to the growth despite short-term operational headwinds.
- COVID-19 is almost becoming a new disease category in its own right with its own therapeutics and vaccines.
- Increased COVID bookings will help revenue performance of clinical CROʼs in the intermediate term due to long term safety surveillance.
If you are interested in discussing any of the analysis from this report, or if you would like to discuss your own transaction goals contact David Crean below, or reach out at (800) 849-7010 or firstname.lastname@example.org to be directed to the appropriate team member.
About the Author:
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