Contract Research Organization (CRO) Market Research Report: Information By Type (Drug Discovery, Clinical Development), By Clinical trial (Preclinical Trials, Phase I, Phase II, Phase III, Phase IV, Others), By End User (Academic institutes, Pharmaceutical companies, Medical service companies) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.
Contract Research Organization Market size was valued at USD 39.69 Billion in 2021 and is projected to grow from USD 45.53 Billion in 2022 to USD 115.19 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 12.01% during the forecast period (2022 – 2030). In general, contract research organizations help offer research-based services to businesses such as medical, government organizations biotechnical, pharmaceutical, and others. A Contract Research Organization (CRO) is a company that provides support to the pharmaceutical, biotechnology, and medical device industries by performing a variety of services, such as clinical trials, laboratory research, and regulatory consulting. CROs offer these services to help clients outsource certain aspects of research and development, which can help to reduce costs and speed up the development process.
The COVID-19 pandemic has had a significant impact on CROs, as the demand for COVID-19 treatments and vaccines has increased dramatically. Many CROs have been heavily involved in the development and testing of COVID-19 treatments and vaccines, which has resulted in a surge in demand for their services. In addition, the pandemic has also disrupted many clinical trials and research projects, which has had an impact on the operations of CROs. Some CROs have had to adapt their operations to meet the challenges posed by the pandemic, such as by shifting to remote work or implementing social distancing measures in their facilities.
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Contract Research Organization Market Segmentation
The Global Contract Research Organization (CRO) market has been segmented into a segment, Clinical Trial Phase, and End Users.
Based on the segments, the CRO market has been segmented into Drug Discovery, Clinical Development.
Based on the clinical trial phase, the market has been segmented into Preclinical Trials, Phase I, Phase II, Phase III.
Based on the end users, the CRO market has been segmented into Pharmaceutical Companies.
Contract Research Organization Market Regional Outlook
North America is expected to experience significant growth in the global contract research market due to the increasing adoption of contract research services. The advancement of therapeutics is driving the need for more research, especially in Europe where there are many well-established big pharmacies. Asia Pacific is also witnessing moderate demand, with developments in the pharmaceutical sector.
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Contract Research Organization Market Key Players
- Some of the key market players are
- Laboratory Corporation of America Holdings
- QuintilesIMS
- PAREXEL International Corporation.
- Pharmaceutical Product Development, LLC.,
- INC Research LLC
- PRA Health Sciences, Inc.,
- ICON plc.
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Preclinical CRO Market: Information By Service (Toxicology Testing, Bioanalysis and Drug Metabolism and Pharmacokinetics (DMPK) Studies), Application (Oncology, Central Nervous System (CNS) Disorders, Cardiovascular Diseases, Immunological Disorders, Respiratory Diseases, Infectious Diseases, Diabetes), End User (Pharmaceutical and Biopharmaceutical Industries, Medical Device Companies and Academic Institutes) – Forecast till 2030
India CRO Market Information, by Services Type (Clinical trials, Product Development, Process Development, Post-Marketing Surveillance, Quality Monitoring and Others); by Therapeutic Application (Oncology, Cardiovascular, Neurology, Nephrology and Urology, and Others) and by End Users (Pharmaceutical/biopharmaceutical Companies, Medical devices Companies and Academic Institutes) – Forecast till 2030
Clinical Trials Market Research Report: by Phase (Phase I, Phase II, Phase III) by Study Design (Interventional, Observational and Expanded Access), Indication (Autoimmune/Inflammation) by End User (Medical Institutes, Hospitals)-Forecast Till 2030
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