The market growth can be attributed to several factors such as increasing number of clinical trials, increased outsourcing of R&D activities and growth in the biosimilars and biologics market which are anticipated to further contribute to this substantial market growth between 2019 and 2030. However, clinical trial failures and stringent & differing government regulations are likely to restrain market growth to a certain extent.
Market Industry Reports (MIR) has published a new report titled “Contract Research Organization Services (CROs) Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the Global Contract Research Organization Services (CROs) Market is estimated to account for over US$ 40 Billion by 2019. The market is anticipated to grow at a CAGR of ~7.0% from 2019 to 2030.
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Major Key Players of the Contract Research Organization Services (CROs) Market are:
IQVIA, Covance, Parexel International Corporation., PRA Health Sciences., PPD, ICON, Syneos Health., Charles River, Medpace, WuXi AppTec
Growing incidences of diseases and emergence of new disease cases has necessitated the need for new curable drugs for treatment. Whereas, in developing countries, there are large number of unmet clinical needs due to the occurrence of infectious and tropical diseases in the region. These overall factor, has led to increase in the number of clinical trials conducted which will in turn is expected to support growth of the market over the forecast period.
To obtain better insights regarding the market scenario, prominent players are increasingly focusing on collaborative initiatives with several institutes, research centers, and companies. For instance, In August 2017, INC Research Holdings, Inc., a global Phase I-IV Contract Research Organization (CRO), and inVentiv Health, Inc., a privately held global CRO & Contract Commercial Organization (CCO), announced successful completion of their merger creating the only fully integrated biopharmaceutical solutions organization, including an end-to-end CRO and CCO.
The Contract Research Organization Services (CROs) Market is segmented on the basis of Product, Modality, Cancer Type, End-Users and region.
By Type:
Clinical Research Services, Early-Phase Development Services, Laboratory Services, and Consulting Services
Therapeutic Area:
Oncology, Central Nervous System (CNS) Disorders, Immunological Disorders, Cardiovascular Diseases, Infectious Diseases and Diabetes
End User:
Pharmaceutical & Biopharmaceutical Companies, Medical Device Companies and Academic Institutes
Research Approach
As a standard protocol at MIR, all research assignments go through the following rigorous processes.
- Secondary Research
- Primary Research
- Market Size Estimation & Forecasting
- Data Validation & Triangulation
- Report Generation
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Table of Contents
- INTRODUCTION
- Market Definition
- Market Classification
- Geographic Scope
- Years Considered for the Study: Historical Years – 2017 & 2018; Base Year – 2019; Forecasted Years – 2020 to 2030
- Currency Used
- RESEARCH METHODOLOGY
- Research Framework
- Data Collection Technique
- Data Sources
- Market Estimation Methodology
- Data Validation and Triangulation
- ABSTRACT OF THE STUDY
- MARKET DYNAMICS ASSESSMENT
- Overview
- Drivers
- Barriers/Challenges
- Opportunities
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