4. CRO market growing at a decent clip

You’re probably thinking “big whoop” I don’t work for a CRO (contract research organization). Well, it kinda is a big whoop because if you take a prescription medication it is highly likely that a CRO was involved in the clinical trials for that medication. Industry Standard Research estimates the CRO market will grow at ~7% annually to 2021 thanks to increased R&D spending and an increase in outsourcing by pharma companies. With 2017 global R&D spending of around $300B, (That’s an Austin Powers clip. Don’t do it.) there is a lot of moolah to be made by pharma service providers and their role in the pharma industry is increasing.