Big Pharma increased their R&D spending by 9.7% in 2024, but this growth is projected to slow to just 2.2% in 2025.
This deceleration could significantly impact CROs like IQVIA, which rely heavily on partnerships with big pharma for their revenue.
The R&D pipeline has decreased from 48% in 2002 to 23% in 2022, emerging biopharma companies have taken the lead, now accounting for 67% of the pipeline.

https://www.fiercebiotech.com/cro/cros-should-brace-continued-slow-big-pharma-rd-spending-analyst?

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