The Challenges Of Working With CROs
The contract research organization (CRO) industry is booming. The global CRO market is expected to grow from $26.8 billion in 2016 to $43.8 billion by 2025, according to a report by Grand View Research. Despite this growth, the CRO industry faces several challenges. The biggest challenge facing CROs is capacity constraints. With the global CRO market growing so rapidly, CROs are struggling to keep up with demand. This is especially true for small and mid-sized CROs. Large CROs have the scale and resources to rapidly expand their capacity, but smaller CROs often lack the financial and human resources to do so. As a result, many small and mid-sized CROs are struggling to keep up with demand and are being forced to turn away business. Another challenge facing CROs is pricing pressure. As the global CRO market has become more competitive, CROs have been under pressure to lower their prices. This has been especially difficult for small and mid-sized CROs, which often lack the economies of scale of their larger counterparts. A third challenge facing CROs is access to talent. With the demand for CRO services increasing so rapidly, it has become difficult for CROs to find and retain qualified employees. This is especially true for highly skilled positions such as clinical research associates (CRAs) and medical writers. A fourth challenge facing CROs is regulatory challenges. The clinical research industry is highly regulated, and CROs must comply with a complex web of regulations. This can be a challenge for CROs, especially small and mid-sized CROs that may not have the resources to devote to compliance. A fifth challenge facing CROs is geographical challenges. The clinical research industry is global, and CROs must often conduct trials in multiple countries. This can be a challenge for CROs, especially small and mid-sized CROs that may not have the resources or experience to conduct trials in multiple countries. See More: https://vial.com

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