A recent study by Frost & Sullivan shows that the clinical research market for contract research organizations (CROs) in Latin America are projected to grow at a rate of 7.1% for the next four years, as it predicts that the larger CROs will take the greatest advantage of this market. As health economic studies are expected to grow significantly in the coming years, CROs have the ability to assist companies in its decision making process for new molecules with access to the list of drugs eligible for reimbursement issued by private insurance plans and public health services. Additionally, a rise in innovative therapeutic options and increased drug efficacy and safety will also play a role in the growth and development of this market.
To read Zachary Brennan’s full article from Outsourcing-Pharma.com, click here.