Contract Research Organization Industry Report: 2019 Review

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Contract Research Organizations (CROs) have evolved over the last several decades into fully outsourced providers of drug development products and services from pre-clinical and discovery services, to clinical (often referred to as Phase I-III), to Phase IV/post-approval monitoring and commercialization. 


The industry itself is estimated to be $30 billion and it is highly fragmented with over one thousand entities globally. However, relatively few are of full scale and breadth of service. Consolidation in the CRO space is relatively common, particularly with the mid-size, full-service companies. Recent mergers and acquisitions among CROs have been around building out capabilities either in data analytics or in key CRO functions, such as patient recruitment or pre-clinical services. 


Much of this industry growth to date has been concentrated within the large full-service players and also the small, niche CROs, with mid-size, full-service companies trailing behind. It is clear that the CRO space has become an exciting industry sector to watch for investors who are actively seeking strategic opportunities.


In our Contract Research Organizations (CRO) Industry Report, we explore a sector overview, demand trends, industry transaction activity, insights into select active acquirers, and more.


To read the full Contract Research Organizations (CRO) Industry Report, download below.



Objective Capital Partners has decades of experience and our tenacious advocacy for our clients has allowed us to create and maintain relationships with active acquirers and investors in our industries of focus. Whether preparing for sale or strategizing for future exit options, knowing the active acquirers and investors within your industry niche is an important factor in achieving your transaction goals.


If you are interested in learning more about the trends and insights in the CRO industry, or if you would like to discuss your own acquisition goals, contact us at (800) 849-7010 or [email protected].


About the Author:

David Crean headshotDavid H. Crean, Ph. D, MBA

Managing Director

25+ Years of Experience

[email protected]



Objective Capital Partners is a leading investment banking advisory firm whose Principals have collectively engaged in more than 500 successful transactions serving the transaction needs of growth stage and mid-size companies. The executive team has a unique combination of investment banking, private equity, and business ownership experience that enables Objective Capital Partners to provide large enterprise caliber investment banking services to companies with annual revenues up to $250MM. Services include sale transactions, partnering/ licensing, equity and debt capital raises, valuation and comprehensive advisory services. The firm uses a proprietary process to work to achieve maximum company valuation, premium pricing, and high client satisfaction rates post-sale. The firm’s industry expertise is focused on 5 verticals including healthcare, life sciences, business services, technology, and consumer products. Additional information on Objective Capital Partners is available at

This article is for informational purposes only and does not constitute an offer, invitation or recommendation to buy, sell, subscribe for or issue any securities. While the information provided herein is believed to be accurate and reliable, Objective Capital Partners and BA Securities, LLC make no representations or warranties, expressed or implied, as to the accuracy or completeness of such information. All information contained herein is preliminary, limited and subject to completion, correction or amendment. It should not be construed as investment, legal, or tax advice and may not be reproduced or distributed to any person. Securities and investment banking services are offered through BA Securities, LLC Member FINRA, SIPC. Principals of Objective Capital are Registered Representatives of BA Securities. Objective Capital Partners and BA Securities are separate and unaffiliated entities.



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