Skip to content

Explore Courses | Elder Research | Contact | LMS Login

Statistics.com
  • Curriculum
    • Curriculum
    • About Us
    • Testimonials
    • Management Team
    • Faculty Search
    • Teach With Us
    • Credit & Credentialing
  • Courses
    • Explore Courses
    • Course Calendar
    • About Our Courses
    • Course Tour
    • Test Yourself!
  • Mastery Series
    • Mastery Series Program
    • Bayesian Statistics
    • Business Analytics
    • Healthcare Analytics
    • Marketing Analytics
    • Operations Research
    • Predictive Analytics
    • Python for Analytics
    • R Programming
    • Rasch & IRT
    • Spatial Statistics
    • Statistical Modeling
    • Survey Statistics
    • Text Mining and Analytics
  • Certificates
    • Certificate Program
    • Analytics for Data Science
    • Biostatistics
    • Programming for Data Science – R (Novice)
    • Programming for Data Science – R (Experienced)
    • Programming for Data Science – Python (Novice)
    • Programming for Data Science – Python (Experienced)
    • Social Science
  • Degrees
    • Degree Programs
    • Computational Data Analytics Certificate of Graduate Study from Rowan University
    • Health Data Management Certificate of Graduate Study from Rowan University
    • Data Science Analytics Master’s Degree from Thomas Edison State University (TESU)
    • Data Science Analytics Bachelor’s Degree – TESU
    • Mathematics with Predictive Modeling Emphasis BS from Bellevue University
  • Enterprise
    • Organizations
    • Higher Education
  • Resources
    • Blog
    • FAQs & Knowledge Base
    • Glossary
    • Site Map
    • Statistical Symbols
    • Weekly Brief Newsletter Signup
    • Word of the Week
Menu Close
  • Curriculum
    • Curriculum
    • About Us
    • Testimonials
    • Management Team
    • Faculty Search
    • Teach With Us
    • Credit & Credentialing
  • Courses
    • Explore Courses
    • Course Calendar
    • About Our Courses
    • Course Tour
    • Test Yourself!
  • Mastery Series
    • Mastery Series Program
    • Bayesian Statistics
    • Business Analytics
    • Healthcare Analytics
    • Marketing Analytics
    • Operations Research
    • Predictive Analytics
    • Python for Analytics
    • R Programming
    • Rasch & IRT
    • Spatial Statistics
    • Statistical Modeling
    • Survey Statistics
    • Text Mining and Analytics
  • Certificates
    • Certificate Program
    • Analytics for Data Science
    • Biostatistics
    • Programming for Data Science – R (Novice)
    • Programming for Data Science – R (Experienced)
    • Programming for Data Science – Python (Novice)
    • Programming for Data Science – Python (Experienced)
    • Social Science
  • Degrees
    • Degree Programs
    • Computational Data Analytics Certificate of Graduate Study from Rowan University
    • Health Data Management Certificate of Graduate Study from Rowan University
    • Data Science Analytics Master’s Degree from Thomas Edison State University (TESU)
    • Data Science Analytics Bachelor’s Degree – TESU
    • Mathematics with Predictive Modeling Emphasis BS from Bellevue University
  • Enterprise
    • Organizations
    • Higher Education
  • Resources
    • Blog
    • FAQs & Knowledge Base
    • Glossary
    • Site Map
    • Statistical Symbols
    • Weekly Brief Newsletter Signup
    • Word of the Week

Blog

Industry Spotlight: CROs

  • March 6, 2019
  • , 6:08 pm

CRO’s, or contract research organizations, are a $40 billion industry, growing at close to 12% per year. They provide contract services to the pharmaceutical industry, including statistical design and analysis, laboratory services, administration of clinical trials, and monitoring of drugs once they are on the market.

Developing a new drug and bringing it to market is an extremely complex process – involving scientific innovation, randomized clinical trials with hundreds or thousands of patients, and the navigation of a daunting regulatory approval process. As a result, it is also very expensive – over $2 billion per approved drug, according to some estimates. CRO’s bring expertise and experience to the process so that a drug development company need not reinvent the wheel for each phase of the process.

Statistical services are a common outside service to seek help with. This is particularly for new companies built around a drug innovation – they may have deep expertise in the science associated with their innovation, but be relative neophytes when it comes to the detailed statistical protocols associated with the different phases of drug testing.

Innovations on the statistical front are more quickly promulgated via CRO than by one drug company learning from another. Cytel Software, a specialist CRO with deep statistical expertise, has been a pioneer in flexible clinical trial planning (e.g. allowing for sample size adjustments, or early termination of trials) that can bring drugs to market sooner and at lower cost. Close communication and collaboration with the U.S. Food and Drug Administration contributed both to the acceptance of flexible clinical trial designs by regulators, and to Cytel’s leading position in this market.

Subscribe to the Blog

You have Successfully Subscribed!

By submitting your information, you agree to receive email communications from statistics.com. All information submitted is subject to our privacy policy. You may opt out of receiving communications at any time.

Categories

Recent Posts

  • Making Predictions Self-Fulfilling Prophecies February 19, 2021
  • Student Spotlight – Staci Taylor February 18, 2021
  • Word of the Week:  Bias February 1, 2021

About Statistics.com

Statistics.com offers academic and professional education in statistics, analytics, and data science at beginner, intermediate, and advanced levels of instruction. Statistics.com is a part of Elder Research, a data science consultancy with 25 years of experience in data analytics.

Latest Blogs

  • Making Predictions Self-Fulfilling Prophecies
    February 19, 2021/
    0 Comments
  • Student Spotlight – Staci Taylor
    February 18, 2021/
    0 Comments
  • Word of the Week:  Bias
    February 1, 2021/
    0 Comments

Social Networks

Linkedin
Twitter
Facebook
Youtube

Contact

The Institute for Statistics Education
4075 Wilson Blvd, 8th Floor
Arlington, VA 22203
(571) 281-8817

ourcourses@statistics.com

© Copyright 2021 - Statistics.com, LLC | All Rights Reserved | Privacy Policy | Terms of Use

By continuing to use this website, you consent to the use of cookies in accordance with our Cookie Policy.

Accept