The CRO Services Market size is slated to hit USD 90,926.3 million by 2026, displaying a CAGR of 11.4% during the forecast period. Rising number of clinical trials across the globe will be the primary force propelling this market in the forthcoming years. Contract research services are provided by organizations that specialize in providing outsourced clinical research services to biotechnology, medical devices, and pharmaceutical companies. The demand for CRO services is on the rise owing to the increasing number of clinical trials worldwide.
According to the report, the value of this market was at USD 38,396.4 million in 2018 and will register a CAGR of 11.4% between 2019 and 2026. Other highlights of the report include:
- Microscopic study of the various factors driving and restraining the market;
- Careful classification and research of the market segments;
- Accurate computation of market figures;
- Comprehensive analysis of the CRO Services Market with regional dynamics and competitive landscape.
The report provides Contract Research Organization Services Market analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product & service launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.
Key Features of CRO Services Market Report:
- Overview, Industry Life Cycle Analysis, Supply Chain Analysis
- CRO Services Market Size, Trends, Growth Drivers, Constraints, SWOT Analysis, Forecast Analysis
- Competitive Landscapes: Market Share, Product Portfolio, New Product Launches, etc.
- Market attractiveness and Associated Growth Opportunities
- Strategic Growth Opportunities for the Existing and New Players
- Key Success Factors
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Regional Dynamics: North America to Occupy a Commanding Position in the Market; Europe to Follow Closely
Among regions, North America is set to dominate the contract research organization services market share in the coming decade owing to increasing investment in R&D activities by government organizations in the region. In addition to that, development of advanced therapies, spreading health awareness, and rising incidence of chronic diseases will further drive this regional market.
In Europe, the market will be primarily driven by high R&D investment by large pharmaceuticals biotechnology giants operating in the region. Asia-Pacific is foreseen to grow at an impressive CAGR on account of availability of diverse people for clinical trials and increasing prevalence of chronic and infectious diseases.
Key Companies and Manufacturers Covered:
- Covance Inc.
- ICON plc
- Parexel International Corporation
- KCR S.A
- PRA Health Sciences, Inc.
- Pharmaceutical Product Development, LLC
- May 2019: Altasciences and WuXi AppTec teamed up to provide full backing to drug development programs using WuXi’s Investigational New Drug (IND) platform. The system would the collaborators to support clinical drug studies from the point of conception to the final document preparation and submission for commercial launch.
- February 2019: Happy Life Tech and Pharmaceutical Product Development, two CRO leaders in China, entered into an agreement with each other to develop a novel offering for China’s drug development market. The product would enable delivering of data science-powered clinical trials and empirical evidence of drug efficacy, value, and safety. Have Any Query? Ask Our Experts:
Detailed Market Segmentation:
- Infectious Disease
- Metabolic Disorders
By End User
- Pharmaceutical & Biotechnological Companies
- Medical Device Companies
- Academic & Research Institutes
- North America (United States- New York, California and Canada)
- Europe (United Kingdom- England, Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
- Rest of the World
Reasons to Purchase this Report:
- Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main Contract Research Organization Services Market players.
- Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion.
- CRO Services Market dynamics and opportunities for growth for players in the near future.
- Competitive landscape describing the market revenue shares of key players.
- Market segmentation analysis that deals with quantitative and qualitative research, discussing the influence of policy-based and economical aspects.
Our proven methodologies and systematic analysis help in making confident business and strategic decisions. A market study that conducts at Fortune Business Insights can save significant cost and time, and can help prevent making costly mistakes.
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