Market Research Future published a research report on Global Contract Research Organization (CRO) Market and experts predicts that Global Contract Research Organizations Market is expected to grow at a healthy CAGR of 11.48% during the forecasted period 2018-2023. The Contract Research Organization (CRO) Market report is an expert analysis report explores the industry growth, analysis and provides unique information which is unavailable on any other source.
The Contract Research Organizations are those which provides clinical trial and other research support services to pharmaceutical/biotechnology industries and medical device industries, besides others. Moreover, they can also serve government institutions, foundations, and universities in their research process.
The Global economy is changing and the big pharmaceutical companies are progressively looking to outsource critical functions including research and manufacturing of the therapeutic drugs and medical devices. Many major corporations are using CROs to lead clinical trials, drug discovery, drug development, outsourcing and various other services. The contract research organizations achieve economies of scale which brings down the price. The reduced costs of manufacturing are then transferred to the final client, thereby giving the benefit of cost efficiency, enabling the client to be free to use his own resources in business.
Key Players of Contract Research Organization (CRO) Market
- Laboratory Corporation of America Holdings. (U.S.)
- QuintilesIMS (U.S.)
- PAREXEL International Corporation. (U.S.)
- Pharmaceutical Product Development, LLC. (U.S.)
- INC Research LLC (U.S.)
- PRA Health Sciences, Inc. (U.S.)
- ICON plc. (Europe), Etc.
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Segmentation of Contract Research Organization (CRO) Market
The Global Contract Research Organization (CRO) Market is segmented on the basis of segment, clinical trial phase, and by end users.
On the basis of segment, the market is segmented drug discovery, clinical development, post marketing services, and others, by clinical trial the market is categorized into preclinical trials, phase I, phase II, phase III, phase IV, and others and on the basis of end users, the market is segmented into pharmaceutical/ biotechnology companies, medical devices companies, academic institutes. This helps in analyzing the economic status of the market globally.
Regional Analysis of Contract Research Organization (CRO) Market
The Americas dominates the Global Contract Research Organization Market (CRO) due to a well-developed healthcare sector providing large number of medical services. Moreover, large patient population and changing lifestyle have boosted the growth of the market in the Americas.
Europe is the second largest Global Contract Research Organization (CRO) Market, which is followed by Asia Pacific. Availability of funds for research, increasing healthcare expenditures, well-developed healthcare sector and favorable governmental policies will to drive the market growth in the Europen contract research organization market during the forecasted period.
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Asia Pacific is the fastest growing region in Global the market due to the presence of a huge patient population, continuously developing economies like India and China. According to the Indian Brand Equity Foundation in 2017, the Indian healthcare sector is one of the fastest growing industries and is expected to advance at a CAGR of 22.87% during the review period to reach USD 280 billion by 2020.
On the other hand, the Middle East & Africa holds the least share in the Global Contract Research Organization Market due to the presence of poor economies especially in Africa region with low per capita income.
Some Brief Table of Content
CHAPTER 1. REPORT PROLOGUE
CHAPTER 2. MARKET INTRODUCTION
2.2 SCOPE OF STUDY
2.3 RESEARCH OBJECTIVE
2.4 ASSUMPTIONS & LIMITATIONS
2.5 MARKET STRUCTURE
CHAPTER 3. RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
CHAPTER 4. MARKET DYNAMICS
4.2.1 ECONOMICS OF PRODUCTION AND SCALE
4.2.2 FOCUS ON CORE COMPETENCIES
4.2.3 MUTUAL BENEFIT TO BOTH CONTRACTOR AND CLIENT
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