Japan, Japan, Mon, 21 Mar 2022 05:29:16 / Comserve Inc. / -- Contract Research Organization (CRO) Services Market :Global Size, Share, Trends, Forecast, Growth, Key Players, Market Segments & Regional Analysis (Latin America, North America, Asia Pacific, Europe, Middle East)
"The report on Contract Research Organization (CRO) Services Market was recently published by SDKI, which includes the latest market trends, current and future opportunities along with the factors that are driving the growth of the market. This report further encompasses the records for the expansion of the market along with information on the investment opportunities that help the clients to take positive decisions on the parameters for gaining profitable revenues. Moreover, the report also contains identification and investigation of the market structure, in-depth qualitative analysis, restraints & challenges, growth drivers, emerging product trends & market opportunities and Porter's five forces.
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Contract Research Organization (CRO) Services Market: Overview
- The global contract research organization (CRO) Services market was valued at ~US$ 49 Bn in 2018 and is projected to expand at a high CAGR from 2022-2031. The global market is driven by increased spending on research and development by manufacturers, patent expiries of various biologics leading to increase in the number of clinical trials, rising penetration of CROs, and growing focus of market players on conducting clinical trials in emerging markets.
- Contract research organizations (CROs) are engaged in offering a range of research services on a contract basis to pharmaceutical, medical device, and biotechnology companies
- Large biopharmaceutical companies have been outsourcing most of their research and development activities in order to shift from fixed costs to variable costs, increase their access to new technological capabilities, and expand their global reach. This is promoting growth of the global contract research organization (CRO) services market.
- Rising prevalence of cancer globally is a key factor driving the number of clinical trials being conducted. Furthermore, the global number of clinical trials in oncology increased from over 2,400 in 2007 to over 7,000 in 2017.
Contract Research Organization (CRO) Services: Market Segmentation
- The global contract research organization (CRO) services market has been segmented based on service type, therapeutic indication, end user, and region
- In terms of service type, the global contract research organization (CRO) services market has been categorized into early phase development, clinical research services, laboratory services, and consulting services. The early phase development segment has been sub-segmented into discovery services, chemistry, and preclinical services. The preclinical services sub-segment has been further divided into toxicology, pharmacokinetics, and others. The clinical research services segment has been sub-classified into phase I, phase II, phase III, and phase IV. The laboratory services segment has been sub-categorized into bioanalytical services, analytical services, and others.
- Based on therapeutic indication, the global contract research organization (CRO) services market has been segregated into oncology, infectious diseases, immunological diseases, respiratory diseases, cardiovascular diseases, neurological disorders, and others
- Based on end user, the global contract research organization (CRO) services market has been divided into medical device companies, biopharmaceutical companies, and others
Contract Research Organization (CRO) Services Market: Regional Segmentation
- In terms of region, the global contract research organization (CRO) services market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global contract research organization (CRO) services market in 2018 and the trend is expected to continue throughout the forecast period
- The contract research organization (CRO) services market in Asia Pacific is anticipated to expand at a high CAGR during the forecast period. Japan is one of the largest industries for clinical trials in Asia Pacific and it witnesses significant product registrations. Large-sized CROs operating worldwide are focused on expanding their presence in Japan through investments in facilities and resources in functional services such as central laboratories, imaging, and clinical supplies.
Contract Research Organization (CRO) Services Market: Major Players
- Key players operating in the global contract research organization (CRO) services market are
- Laboratory Corporation of America Holdings
- IQVIA Inc.
- Syneos Health, Inc.
- Parexel International Corporation
- PRA Health Sciences, Inc.
- PPD, Inc.
- Charles River Laboratories, Inc.
- Icon plc
- WuXi AppTec Group
- Medpace
- These players are focused on adopting inorganic growth strategies to strengthen their product portfolio. These companies have adopted strategies such as partnerships and acquisitions to strengthen their market position, expand their portfolio of services, and expand their geographical presence.
Contract Research Organization (CRO) Services Market - Scope of the Report
The report on the global contract research organization (CRO) services market studies the past as well as current growth trends and opportunities to gain valuable insights of these indicators for the global market during the forecast period i.e. from 2019 to 2027. The report provides the overall revenue of the global contract research organization (CRO) services market for the 2017–2027 period, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compounded annual growth rate (CAGR) for the global contract research organization (CRO) services market for the forecast period.
The report has been prepared after an extensive research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with market leaders and opinion makers. Extensive secondary research involved referring to key players' product literature, annual reports, press releases, and relevant documents to understand the global contract research organization (CRO) services market.
Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts also employed a combination of top-down and bottom-up approaches to study various phenomena in the global contract research organization (CRO) services market.
The report includes an elaborate executive summary, along with a snapshot of the growth pattern of various segments and sub-segments included in the scope of the study. Additionally, the report sheds light on the changing competition dynamics in the global contract research organization (CRO) services market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the global contract research organization (CRO) services market. The next section of the report highlights the USPs, which include regulatory scenarios for contract research organization (CRO) services globally, business models, pricing analysis, and market developments in the global contract research organization (CRO) services market.
The report delves into the competition landscape of the global contract research organization (CRO) services market. Key players operating in the global contract research organization (CRO) services market have been identified and each one of these has been profiled for its distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players profiled in the global contract research organization (CRO) services market report.
Key Questions Answered in Contract Research Organization (CRO) Services Market Report
- How much sales revenue would be generated by CRO services across all regions during the forecast period?
- What are key trends in the global contract research organization (CRO) services market?
- What are major drivers, restraints, and opportunities in the global contract research organization (CRO) services market?
- Which regional market is set to expand at the most rapid CAGR during the forecast period?
- Which segment would generate the maximum revenue by 2027 and which service type segment would expand at the most rapid CAGR during the forecast period?
Contract Research Organization (CRO) Services Market - Research Objectives and Research Approach
The comprehensive report on the global contract research organization (CRO) services market begins with an overview of the market, followed by the scope and objectives of the study. Following this, the report provides detailed explanation of the objectives of the study and health care compliances laid down by accredited agencies in the purview of research in the global contract research organization (CRO) services market. It is followed by market introduction, market dynamics, and an overview of the global contract research organization (CRO) services market, which includes analysis of market drivers, restraints, and trends affecting the market. Furthermore, Y-o-Y growth analysis with elaborate insights has been provided to understand the Y-o-Y growth trends of the global market. The next section of the global contract research organization (CRO) services market report highlights the USPs, which include regulatory scenarios for contract research organization (CRO) services globally, market value chain analysis, and developments in the global market.
For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section further divided into small sections. The entire report comprises an exhaustive collection of graphs and tables that are appropriately interspersed in the entire compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of market shares of key segments in the past and at the end of the forecast period.
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Revenue generated by key players in the contract research organization (CRO) services market has been mapped to ascertain the size of the global contract research organization (CRO) services market, in terms of value. The forecast presented here assesses the total revenue generated in the global contract research organization (CRO) services market. In order to provide an accurate forecast, we initiated by sizing up the current contract research organization (CRO) services market with the help of the parent market.
The report analyzes the global contract research organization (CRO) services market in terms of service type, therapeutic indication, and end user. Key segments under each criteria have been studied at length and the market share for each of these by the end of 2027 has been provided. These valuable insights would help market stakeholders in making informed business decisions for investments in the global contract research organization (CRO) services market.
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Table of Content
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Acronyms
3. Research Methodology
4. Executive Summary: Global Contract Research Organization (CRO) Services Market
5. Market Overview
5.1. Definition
5.2. Market Indicators
5.3. Market Dynamics
5.3.1. Drivers
5.3.2. Restraints
5.3.3. Opportunities
6. Market Outlook
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