The global contract research organization services market will derive growth from increasing clinical trials in the coming years. According to a report by Fortune Business Insights, titled “Contract Research Organization (CRO) Services: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 38,396.4 Mn in 2018. Fortune Business Insights states that the market will reach US$ 90,926.3 Mn by 2026, thereby exhibiting a CAGR of 9.9%.
The report includes thorough compilation of the quantitative analysis of the industry for the period of 12 years in order to assist players to grow in the market. Insights on specific revenue figures generated are also given in the report, along with projected revenue at the end of the forecast period. This study includes a widespread analysis of the key segments of the industry. This analysis sheds light in the current trends and opportunities in the Contract Research Organization Services Market.
Key Points of the Contract Research Organization Services Market Report:
- The report provides a basic overview of the industry including its definition, applications, and manufacturing technology.
- The report also explores the major international players in detail. In this part, the report presents the company profile, product specifications, capacity, and production value along with the market shares for each company.
- Through the statistical analysis, the study depicts the global market including capacity, production, production value, cost/profit, and supply/demand from an international perspective.
- Considering segmentation, the market is divided in terms of product, end-use, company, region, and other important aspects. Each of these categories forms an important base point for the competitive landscape analysis.
- The report then estimates the market development and trends of the Contract Research Organization Services Market.
Increasing Number of Non-Profit Organizations are Getting Involved in CRO launches
The demand for CROs has been increasing ever since healthcare institutions have unlocked various benefits of contract research organizations in business operations. With the inflating demand for CROs, investors have identified huge growth potential within establishing CROs. The rise in the number of investors involved in developing contract research organizations has contributed to the growth of the global CRO services market. Besides non-profit organizations, the market continues to witness newer CRO launches from leading companies around the world. IN April 2019, FHI 360 announced the launch of a new CRO service, named FHI Clinical.
Top manufactures of Contract Research Organization Services Market are:
- Pharmaceutical Product Development, LLC.
- PRA Health Sciences, Inc.
- ICON plc
- KCR S.A.
- Parexel International Corporation.
- Covance Inc.
Increasing Mergers and Strategic Collaborations to Favor Market Growth
Increasing mergers and acquisitions aimed at developing existing CROs and establishing new CROs are a primary factor that will account for the growth of the global contract research organization services market. The global CRO services market will also benefit from a recent surge in the number of company collaborations and agreements. In 2018, Cereno Scientific announced that it is collaborating with leading CRO ‘OCT’. The company announced the collaboration with the aim of conducting phase 2 clinical trials for study of Cereno’s latest drug ‘CS1’.
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Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Mergers & Acquisitions Among Key Players
- The Regulatory Scenario in Key Countries/Region
- Competition Matrix for the Services Provided by Key Players.
- Global Contract Research Organization Services Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Service Type
- Laboratory Services
- Market Analysis, Insights and Forecast – By Application
- Infectious Disease
- Metabolic Disorders
- Market Analysis, Insights and Forecast – By End User
- Pharmaceutical & Biotechnological Companies
- Medical Device Companies
- Academic & Research Institutes
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia pacific
- Rest of the World
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- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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