Contract Research Organization (CRO) Services Market Value, Volume, Growth Predictions, and Forecast to 2022-2030

Rise in Number of Drug Development Projects to Propel Demand for CRO Services

CRO services have gradually penetrated the healthcare sector in the past few years. With significant developments in the healthcare sector in terms of research, medications, drug delivery, etc., CROs are increasingly gaining prominence. As healthcare providers continue to recognize the benefits and advantages of consulting and opting for CRO services, the demand for such services is expected to grow at a significant pace during the forecast period (2019-2027). In the past few years, instead of outsourcing the entire project, biotech companies are leaning toward outsourcing part of clinical trials to CROs. In addition, stakeholders in the current contract research organization (CRO) services market are focusing their attention toward catering to niche and customized requirements of clinical trials.

Get the sample copy of report@ https://qyresearchmedical.com/report/checkout/111722/2900

In recent times, CRO services are assisting companies in the early phase development of new drugs and medications. Clinical research, consulting, and laboratory CRO services are increasingly being used by pharmaceutical companies, a factor expected to propel the growth of the contract research organization (CRO) services market during the assessment period. In addition, stakeholders involved in the current contract research organization (CRO) services market are expected to collaborate with each other to formulate open technology standards that are likely to revolutionize the future of clinical trial operations. Due to these factors and positive outlook of the healthcare sector, the global contract research organization (CRO) services market is expected to reach a value of ~US$ 96.4 Bn by 2027.

Focus on R&D in Pharmaceuticals Offers Growth Opportunities for Stakeholders

In the past decade, research and development in the pharmaceutical sector has experienced considerable increase. Established companies in the pharmaceutical sector are leaning toward leaner business models wherein dependence on external entities, such as CROs, is high. The significant growth of the biotech sector in the past decade has played an important role in resulting in rise in the number of companies involved in research and drug development. The exponential rise in the number of active and upcoming drug development companies and research projects created a huge window of opportunity for stakeholders involved in the contract research organization (CRO) services market. In the past decade, outsourcing of large or complex aspects of the drug development process has become imperative for the development of new drugs effectively and cost-effectively.

Get a glimpse of the in-depth analysis through our Report Brochure

Although drug developers are increasingly leveraging CROs services, they are continually seeking solutions to address a host of challenges involved with this approach, such as high R&D cost, obtaining access and tracking the operations that are outsourced, and capacity constraints, among others. At present, stakeholders in the contract research organization (CRO) services market are increasingly adapting to the evolving research & development requirements and are expected to manage contracted work in several modalities. The number of outsourced projects in the last decade has transformed the overall structure of the drug development industry.

Adoption of CROs Services to Accelerate Early Phase Drug Development

The lack of horizontal integration in the contract research organization (CRO) services market has largely been responsible for the inefficiencies in the operations and workflows. Furthermore, this has also isolated drug development processes, which has thus, encouraged the formulation of integrated CRO services models. The growing adoption of integrated model across the pharmaceutical sector has played an integral role in improving efficiency and minimizing the make-test cycle. While the horizontal integration model offered significant benefits and efficiencies in the drug development phase, its adoption in the U.S. was relatively slower than European countries such as the U.K. The demand for CROs services for early phase drug development and clinical research is expected to grow in the coming decade, due to a range of factors, including improved efficiency, streamlined management of R&D costs, low risk of repeat studies, accelerated drug development, and lowered operational costs, among others. Apart from offering monetary benefits, integrated contract organization services are likely to simply the supply chain and efficient management of clinical data.

Analysts’ Viewpoint

The global contract research organization (CRO) services market is expected to grow at an impressive CAGR of ~8% during the forecast period. The growth of the market can be largely attributed to significant rise in the number of drug development projects across the globe. Moreover, biotech and pharmaceutical companies are increasingly relying on CRO services to complete certain steps of the clinical development of drugs, which will create significant demand for CRO services during the forecast period. The outlook for the contract research organization (CRO) services market during the forecast period is positive, owing to the advent of integrated CRO models. Additionally, Stakeholders in the contract research organization (CRO) services market should focus on collaborating with pharmaceutical companies and leverage opportunities in North America and Europe– the two prominent regions in which large-scale drug development projects are being initiated.

View full report@ https://qyresearchmedical.com/report/contract-research-organization-cro-services-market-service-type-early-phase-development-discovery-services-chemistry-and-preclinical-services-clinical-research-services-phase-i-phase-ii-phase-iii-and-ph-019-2030/111722

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 2019 to 2027. 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.

Purchase Complete Report Now@ https://qyresearchmedical.com/report/checkout/111722/2900

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 – Segmentation

Service Type

  • Early Phase Development
  • Discovery Services
  • Chemistry
  • Preclinical Services
  • Toxicology
  • Pharmacokinetics
  • Others
  • Clinical Research Services
  • Phase I
  • Phase II
  • Phase III
  • Phase IV
  • Laboratory Services
  • Bioanalytical Services
  • Analytical Services
  • Others
  • Consulting Services

Therapeutic Indication

  • Oncology
  • Infectious Diseases
  • Immunological Disorders
  • Respiratory Diseases
  • Cardiovascular Diseases
  • Neurological Disorders
  • Others

End User

  • Medical Device Companies
  • Biopharmaceutical Companies
  • Others

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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

6.1. Global Contract Research Organization (CRO) Services Market Revenue (US$ Mn) Forecast 2017–2027

6.2. Global Contract Research Organization (CRO) Services Market Outlook

6.3. Regulatory Scenario, by Region/Global

6.4. Clinical Trials Analysis

6.5. Key Mergers and Acquisitions

6.6. Heat Map Analysis

6.7. CROs – Business Model

6.8. CROs – Pricing Strategies

7. Global Contract Research Organization (CRO) Services Market Analysis and Forecast, by Service Type

7.1. Introduction

7.2. Global CRO Services Market Value Share Analysis, by Service Type

7.3. Global CRO Services Market Value Forecast, by Service Type, 2017–2027

7.3.1. Early Phase Development

7.3.1.1. Discovery Services

7.3.1.2. Chemistry

7.3.1.3. Preclinical Services

7.3.1.3.1. Toxicology

7.3.1.3.2. Pharmacokinetics

7.3.1.3.3. Others

7.3.2. Clinical Research Services

7.3.2.1. Phase I

7.3.2.2. Phase II

7.3.2.3. Phase III

7.3.2.4. Phase IV

7.3.3. Laboratory Services

7.3.3.1. Bioanalytical Services

7.3.3.2. Analytical Services

7.3.3.3. Others

7.3.4. Consulting Services

7.4. Global CRO Services Market Attractiveness, by Service Type

8. Global Contract Research Organization (CRO) Services Market Analysis and Forecast, by Therapeutic Indication

…..

Purchase Complete Report Now@ https://qyresearchmedical.com/report/checkout/111722/2900

You can place an order or ask any questions, please feel free to contact sales@qyresearchmedical.com | +1 9197 992 333

About Us

QYResearch Medical, focuses on custom research, management consulting, IPO consulting, industry chain research, and data base & seminar services. The company owns large basic databases (such as National Bureau of Statistics Database, Customs Import and Export Database, Industry Association Database, etc.), expert resources (including industry experts who own more than 10 years experiences on marketing or R&D in industries of healthcare services, medical technology & devices, etc.), professional survey team (the team members obtained more than 3 years market survey experience and more than 2 years deep expert interview experience), and excellent data analysis team (SPSS statistics and PPT graphics process team).

QYResearch Medical has more than 4000 global well-known customers, covering more than 30 industries including pharmaceuticals, medical technology & devices, healthcare services etc. Company services cover one-stop solution as Data-Analysis-Suggestion-Consulting Implementation. Research regions cover China, US, EU, Asia, Middle East and Africa, South America, Australia, and other regions in the world.

For Latest Update Follow Us:

https://www.linkedin.com/company/qyresearch-medical/

https://www.facebook.com/QYResearch-Medical-108186514228917/

https://twitter.com/qyresearchmedi