More than 12,600 cases were discontinued from 2014 to 2015 - one in every eight Crown Court cases.
At the same time, the proportion of Crown Court cases resulting in a conviction fell below the 80% mark for the first time since 2010-11.
The CPS said cases were kept under "constant review".
A study of the data suggested the principal reason for the fall in the proportion of cases resulting in conviction was because of the rise in the number that were dropped by the CPS after charges had been brought.
The total number of cases dropped at that point was 12,615 last year - an increase of nearly 1,700 on the year before.
BBC home affairs correspondent Danny Shaw said: "In 70% of the dropped prosecutions, the CPS offered 'no evidence'.
"In other words the case was discontinued at a late stage, after the defendant had pleaded not guilty, and often after many months awaiting trial."
He added the figures "are likely to fuel claims that the criminal justice pendulum has swung too far in favour of victims and away from the accused".
A CPS spokesman said: "All cases are kept under constant review as they progress through the criminal justice system.
"If new evidence comes to light, a witness decides to no longer support a prosecution or a co-defendant pleads guilty to the offence, the CPS will then review the case.
"If there is no longer sufficient evidence or if it is no longer in the public interest, the CPS will stop a prosecution."
He added: "In 2014-15 the CPS offered no evidence in 8.8% per cent of cases. This compares to 8.3% the previous year and 9.4% the year before that."
Nazir Afzal, former chief Crown prosecutor of the CPS for north west England, told BBC Radio 4's Today programme: "We have to ensure that we don't have the baying crowd mentality.
"There are lots of people who are desperate for cases to be brought for all sorts of reasons.
"A prosecutor must look at it in the cold light of day, professionally, ensure that they recognise any issues about the credibility of the allegation and make the decision that stands up."
He added: "The accused person needs to have as much information given to him about what happened. That would not necessarily make life any better for him but certainly give an understanding that maybe, just maybe, the decision was right at the outset and something has changed."

His career-best 9-95 helped Essex beat Middlesex by an innings and 34 runs.
"You can't really put it into words. Sometimes things go your way," the 28-year-old South African told BBC Essex.
"I was saying to our scorer I'll probably never take four five-fers or 28 wickets in two games ever again - it's just been one of those weeks."
He continued: "You've got to ride the wave while you can because I can guarantee you I'll be back in South Africa at the Wanderers, bowling on an absolute road and getting smashed all over the place."
The victory over the reigning champions left Essex 29 points clear at the top of Division One in their first season back in the top flight.
Kolpak player Harmer, who returned career-best figures of 14-128 in last week's win over Warwickshire, has now taken 47 wickets in eight matches this season.
And he said a Championship day-night trial with the new pink ball helped his cause against Middlesex in Chelmsford.
Harmer said: "I think everybody's feedback was that it came off the bat a bit better and there was a bit of extra bounce, and obviously being a spinner on day four when the wicket's slow and low to get that extra bounce is nice.
"It keeps the batsman guessing because it takes the sweep shot out of the equation because it's bouncing.
"They need to look to then play off the back foot or whatever, so it definitely helped me."
The number and proportion of prosecutions dropped at Crown Courts in England and Wales has risen to its highest level in five years.
[NEXT_CONCEPT]
Essex off-spinner Simon Harmer says he is "riding the wave" after taking 14 wickets in both of his past two County Championship matches.