Global Contract Research Organization Services (CROs) Market Reviews, Methodology and Technological advancements forecast 2023

The Contract Research Organization services market is expected to reach USD 56.34 billion by 2023 from USD 39.13 billion in 2018, at a CAGR of 7.6%. Increased outsourcing of R&D activities and increasing number of clinical trials are some of the major factors driving the growth of this market. However, intense competition in the CRO services market is one of the major challenges for the players operating in the CRO services market.

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A contract research organization (CRO) can work with a number of sponsors who can be referred to a clients. A good CRO has well qualified, experienced and skilled staff, and can provide all services to the client in relation to the research project / clinical trial.

Introduction
1 Objectives of the Study
2 Market Definition
3 Market Scope
4 Markets Covered
5 Years Considered for the Study
6 Currency
7 Limitations
8 Stakeholders

Among the CRO services, the laboratory services segment is expected to register the highest CAGR during the forecast period. The high growth of this segment is attributed to the increasing number of pipeline drugs and growing outsourcing of laboratory services by pharmaceutical and bio-pharmaceutical companies.

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Oncology segment is expected to register the highest CAGR during the forecast period. The increasing number of clinical trials and rising prevalence of cancer world wide are the major factors supporting its growth during the forecast period.

Premium Insights
1 CRO Services Market Overview
2 Asia Pacific: CRO Services Market, By Type and Country
3 CRO Services Market: Geographic Growth Opportunities
4 CRO Services Market: Geographic Mix
5 CRO Services Market: Developing vs Developed Countries

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The Asia Pacific region is expected to witness the highest CAGR during the forecast period, owing the rapid growth in the pharmaceutical and biopharmaceutical industry, low cost of clinical trials, rising number of CROs, and favorable government policies in the region.

Break of primary participants:
• By Company Type – Tier 1: 21%, Tier 2–26%, and Tier 3–53%
• By Designation – C Level: 32%, Director Level: 26%, and Others: 42%
• By Region – North America: 26%, Europe: 35%, Asia Pacific: 20%, Latin America: 11%, and the Middle East & Africa: 8%

The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help garner a greater share. Firms purchasing the report could use any one or combination of the below-mentioned strategies for strengthening their market positions.

Target Audience
1 Pharmaceutical and biopharmaceutical companies
2 Contract research organizations (CROs)
3 Medical device manufacturing companies
4 Academic and research institutes
5 Government associations
6 Market research and consulting Firms
7 Venture capitalists and investors

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