Press release
Global Contract Research Organization Market Growth Analysis By Top Leading Players Charles River Laboratories International (CRL), Clinipace, Clinitec, CMIC, EPS International, ICON, Laboratory Corporation of America Holdings (Covance), Medpace, Parexel
U.S. CRO market will grow at 7.3% during the forecast timeframe due to technological advances and wide-ranging drug development activities conducted in the country. Additionally, presence of several pharma companies in the U.S. should render positive impact on CRO industry.
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China CRO market was valued at USD 1.3 billion in 2017 and is estimated to experience considerable growth over the coming years. The growth is attributable to fast approval procedures. Chinese firms pursue transparent and fast approval procedures through results that are acceptable to U.S. FDA thereby, fosters business growth.
Growing trend of technological advances coupled with pharmacovigilance outsourcing will drive the contract research organization market growth over the forecast timeline. Implementation of technologies such as patient recorded outcomes (PRO), clinical trial management systems (CTMS) and electronic data capture (EDC) further favors contract research organization industry growth. Regulations focusing on enhancing patient safety and quality management systems should boost CRO market growth over the coming years.
Cardiology segment will witness 8.1% CAGR by 2024 due to growing prevalence of cardiovascular diseases and surging number of clinical trials in cardiology. According to American Heart Association 2018 data nearly 92.1 million American adults are having after effects of stroke or some type of cardiovascular disease (CVD). Indirect and direct costs of overall CVDs and stroke are projected to exceed USD 329.7 billion. Rising adoption of unhealthy eating habits and lack of physical exercises accelerate the prevalence of CVD that should further boost segmental growth in forthcoming years.
Rising prevalence of chronic ailments such as infectious diseases, cancer further fosters business growth. Larger commercialization of R&D in drug industry can boost productivity that should drive contract research organization (CRO) market. Moreover, increasing demand for global clinical trials and requirement for quality auditing will augment CRO industry growth. However, intellectual property issues surface at numerous points in technology transfer and institutional research that can restrain contract research organization (CRO) market growth.
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Some of the prominent competitors operating in CRO market include Charles River Laboratories International (CRL), Clinipace, Clinitec, CMIC, EPS International, ICON, Laboratory Corporation of America Holdings (Covance), Medpace, Parexel International, Pharmaceutical Product Development (PDD), LLC, PRA Health Sciences, IQVIA (Quintiles IMS), Syneos Health, Synteract, Worldwide Clinical Trials and Wuxi AppTec. Industry competitors are mainly focusing on inorganic strategies such as partnership, merger and acquisitions. Merger and acquisitions ensure cost savings in CRO operations. Additionally, it also strengthens their foothold in the CRO market and capture more revenue share.
Table of Content:
Chapter 1. Methodology
1.1. Methodology
1.2. Market definitions
1.3. Forecast parameters
1.4. Data sources
1.4.1. Secondary
1.4.1.1. Paid sources
1.4.1.2. Unpaid sources
1.4.2. Primary
Chapter 2. Executive Summary
2.1. Contract research organization industry 360 degree synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Service type trends
2.1.3. Therapeutic area trends
2.1.4. End-use trends
2.1.5. Regional trends
Chapter 3. Contract Research Organization Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.1.1. Increasing R&D expenditure worldwide
3.3.1.2. Rising number of clinical trials in emerging economies
3.3.1.3. Growing outsourcing of R&D activities
3.3.1.4. Rising technological advancements
3.3.2. Industry pitfalls and challenges
3.3.2.1. Intellectual property rights issues
3.4. Growth potential analysis
3.4.1. By service type
3.4.2. By therapeutic area
3.4.3. By end-use
3.5. Regulatory landscape
Chapter 4. Contract Research Organization Market, By Service Type
4.1. Key segment trends
4.2. Early phase development services
4.2.1. Market size, by region, 2013 - 2024
4.2.2. Discovery services
4.2.2.1. Market size, by region, 2013 - 2024
4.2.3. Chemistry, manufacturing & control (CMC)
4.2.3.1. Market size, by region, 2013 - 2024
4.2.4. Pre-clinical services
4.2.4.1. Market size, by region, 2013 - 2024
4.2.4.2. Pharmacokinetics/pharmacodynamics (PK/PD)
4.2.4.2.1. Market size, by region, 2013 - 2024
4.2.4.3. Toxicology testing services
4.2.4.3.1. Market size, by region, 2013 - 2024
Chapter 5. Contract Research Organization Market, By Therapeutic Area
5.1. Key segment trends
5.2. Oncology
5.2.1. Market size, by region, 2013 - 2024
5.3. Clinical pharmacology
5.3.1. Market size, by region, 2013 - 2024
5.4. Cardiology
Chapter 6. Contract Research Organization Market, By End-use
Chapter 7. Contract Research Organization Market, By Region
Chapter 8. Company Profiles
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Related Report:
Global Contract Research Organizations Market Size, Status and Forecast 2018-2025
This report focuses on the global Contract Research Organizations status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Contract Research Organizations development in United States, Europe and China.
https://www.marketstudyreport.com/reports/global-contract-research-organizations-market-size-status-and-forecast-2018-2025
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