Contract Research Organization (CRO) Market drivers of growth analyzed in a new research report
Growing technological advancements in clinical trials is another key driver that will accelerate the industry growth. Technology plays a crucial part in clinical trial projects as well as post-approval of products. Innovations in technology to offer efficacy and safety in product development process will drive CRO market growth. However, intellectual property problems occurring at several points during the research may hamper business growth over the forthcoming years.
Request sample copy of this report @ www.gminsights.com/request-sample/detail/3012
Early phase development services segment held significant revenue share in 2017 and is estimated to show highest CAGR of 7.8% over the analysis period. Segmental growth is attributable to growing investment in R&D activities for development of innovative products. Conducting early phase trials, Proof-Of-Concept (POC) and First-In-Human (FIH) as multicenter studies can offer substantial advantages for discovering exact target population and refining recruitment. Thus, early phase development services are vital fragments of effective drug development that will accelerate the CROs market growth in the coming years.
Oncology segment dominated the CRO market with USD 18.6 billion in 2017 and is projected to show lucrative CAGR over the forecast timeframe. Cancer is one of the leading causes of mortality in developed as well as developing economies. Increasing prevalence of cancer has accelerated the pace of cancer research for developing safe and efficient treatment. Rising government and private funding for oncology drugs will further drive business growth.
Make Inquiry about this report @ www.gminsights.com/inquiry-before-buying/3012
Pharmaceutical and biopharmaceutical companies segment accounted for 54.7% revenue share in 2017 and the segment will witness robust growth in the coming years. Segmental growth is attributed to growing investment in new drug development coupled with increasing government support. Growing adoption of CRO services that offers various pharmaceutical research, essential for conducting clinical trials during complicated drug discovery process will spur segment size over the forecast period.
U.S. CRO market dominated North America region and was valued at USD 13.1 billion revenue in 2017 and is expected to show similar trend over the coming years. The high growth is attributed to strong foothold of major pharma and medical device companies coupled with extensive drug development activities in the U.S. Moreover, high healthcare expenditure in the country and growing concern regarding drug safety and adverse drug reactions among the population will boost CRO business growth.
China CRO market is projected to show lucrative CAGR of 8.9% over the forecast timeframe owing to the growing burden of chronic diseases and presence of large patient pool. Moreover, healthcare reforms in China as well as presence of highly qualified healthcare professionals that provide CRO services at lower costs offer several opportunities for contract research organization industry growth.
Prominent industry players operating in the CRO market include Parexel International, Laboratory Corporation of America Holdings (Covance), Charles River Laboratories International (CRL), CMIC, Syneos Health, EPS International, Clinipace, IQVIA (Quintiles IMS), Clinitec, ICON, Medpace, Pharmaceutical Product Development (PDD), PRA Health Sciences, Worldwide Clinical Trials, Synteract and Wuxi AppTec. The industry players primarily focus on certain strategic initiatives such as merger, acquisitions and partnership to capitalize on market opportunities and strengthen their market position. For instance, in August 2017, Clinipace Worldwide launched a new regulatory and strategic development consultancy called RSD Global Consulting. The strategy aimed at providing regulatory and strategic stage-specific solutions for all phases of development, marketing applications and post-marketing support in the U.S., Europe, and Asia Pacific.
Contract Research Organization (CRO) market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:
CRO Market, By Service Type (USD Million)
• Early phase development services
o Discovery services
o Chemistry, manufacturing & control (CMC)
o Pre-clinical services
Toxicology testing services
• Clinical research services
o Phase I
o Phase II
o Phase III
o Phase IV
• Laboratory services
o Bioanalytical testing services
o Analytical testing services
Raw material testing
Batch release testing
• Consulting services
CRO Market, By Therapeutic Area (USD Million)
• Clinical pharmacology
• Infectious disease
• Gastroenterology & hepatology
CRO Market, By End-use (USD Million)
• Pharmaceutical & biopharmaceutical companies
• Medical device companies
• Academic institutes
The above information is provided for the following regions and countries:
• North America
• Asia Pacific
• Latin America
• Middle East Asia & Africa
o Saudi Arabia
o South Africa
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688
Blog : news-researchers.com
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Contract Research Organization (CRO) Market drivers of growth analyzed in a new research report here
News-ID: 1802884 • Views: 74
More Releases from Global Market Insights, Inc.
Piezoelectric Energy Harvesting System Market Competitive Market Share & Forecas …
Piezoelectric Energy Harvesting System Market is anticipated to witness growth on account of increasing demand of efficient and durable systems with minimal operational cost. Increase in government and private partner investments along with favorable environmental norms will positively influence the industry outlook. Moreover, global inclination towards renewable energy usage along with consumer awareness for technological innovation will augment the business growth. Request for table of content @ https://www.gminsights.com/request-toc/upcoming/3506 Ongoing technological advancement in
Subsea Equipment Market Industry Analysis Report, Regional Outlook Application P …
The subsea equipment market is set to grow on account of growing development of offshore fields along with technological challenges in the production and operations across a deep-water reservoir. Development of varied range of production systems and layouts will help the operators in exploring these fields and utilize the potential of previously untapped fields. Furthermore, key benefits including improved reservoir productivity, reduction on operating cost and enhanced reliability of subsea
North America Switchgear Market 2019: Business Growth, Trend and Forecast 2025
North America Switchgear Market share is anticipated to exceed USD 25 billion by 2025. Increasing expenditure toward electrical infrastructure development in line with government measures for the expansion of power grid network across rural areas will stimulate the North America switchgear market share. Moreover, substantial growth in electricity consumption along with growing concern toward the advancement of existing power grid infrastructure will stimulate the business outlook. Medium voltage and high voltage
Europe Hydronic Radiators Market 2019: Business Growth, Trend and Forecast 2025
Europe Hydronic Radiators Market 2019: Business Growth, Trend and Forecast 2025 Europe Hydronic Radiators Market report gives attention to market segmentation, market size, and forecast of 2018-2024 to help stakeholders in making a good decision for the future investments. The industry report segmented into types, application, and regions with providing production, revenue, import/export. Europe hydronic radiators market was worth over USD 1 billion in 2018. Introduction of strict government mandates with an