Specialty CRO's Market - Regional Insights
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As per the estimation of Pharmaceutical Research and Manufacturers of America (PhRMA) in 2017, on an average the pharmaceutical industry invested around US$ 0.8 billion to US$ 1.7 billion on research and development. According to the U.S. National Library for Medicine, by January 2018, around 264,099 clinical studies were registered, which included all the healthcare product spectrum. Asia Pacific is expected to provide lucrative opportunities for market growth due to the cost effective services offered to the CROs in this region, large number of skilled human resources, and availability of large patient pool.
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Some of key players operating in the specialty CROs market include Charles River Laboratories, Profil Abiogenesis Clinpharm, Accell Clinical Research, Accelovance, Aclires, Acquipharma, Cytespace Africa, DATATRAK International, Afraxis, David H Murdock Research Institute, DaVita Clinical Research, Gateway Pharmacology Laboratories, SAGE Labs, and Velesco Pharmaceutical Services.
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