By Craig Morgan, Brand Development Director, goBalto Inc.
CNN Money recently ranked Clinical Research Associates (CRAs), professionals whose main function is to monitor clinical trials, as one of the 10 best careers in America in terms of job growth rate, worker pay, and satisfaction. Despite this, the clinical research industry has experienced a concerning global shortage of experienced CRAs. Currently, there are over 14,000 open positions for CRAs on Indeed.com alone. And demand for CRAs is expected to grow annually by 1.52 percent (5,590 new positions) by 2018. This shortage is having a significant impact across the pharmaceutical industry, contributing to higher costs and extending drug development timelines for sponsors. As a result of the highly competitive job market, many clinical trial sponsors and contract research organizations (CROs) are finding themselves in a never-ending recruitment cycle for qualified CRAs.