Following Their Expansion Plan Chiltern Acquired Integrated Development Associates

(MoneyNewsWire.Net, January 03, 2019 ) The contract research organizations market size is expected to grow around $70 billion by 2022 growing at double digit compound annual growth rate (CAGR). The growth in the contract research organizations market is mainly due to the rising cost of drug development, increasing patent expirations of drugs and increasing investments in the pharmaceutical and biologics industry in emerging economies.

The global CRO market include increasing focus on emerging markets, strategic partnerships to benefit the CROs, and increasing consolidation in

the market.

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Increase in merger and acquisition activity has been a significant trend in the CRO market. With contract research organizations becoming indispensable to the pharmaceutical industry, the CROs are trying to be the one stop solution for all the needs of its sponsors in order to attract business from all aspects of drug development lifecycle.

Chiltern, a global contract research organization, which is leading provider of clinical services and solutions in a variety of therapeutic areas acquired Integrated Development Associates (IDA), a Japan based CRO with operations in Japan, Korea and Southeast Asia. After its acquisition the company was renamed IDA, a Chiltern Company

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