Press release
Contract Research Organization Services Market Excessive Growth Opportunities Estimated to be Experienced in Latest Industry Reports by 2020-2030 | Include Covid-19 impact Analysis
The Global Contract Research Organization Services (CROs) Market is estimated to account for over US$ 40 Billion by 2019. The market is anticipated to grow at a CAGR of ~7.0% from 2019 to 2030.Growing incidences of diseases and emergence of new disease cases has necessitated the need for new curable drugs for treatment. Whereas, in developing countries, there are large number of unmet clinical needs due to the occurrence of infectious and tropical diseases in the region. These overall factor, has led to increase in the number of clinical trials conducted which will in turn is expected to support growth of the market over the forecast period.
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Top Players:
Some of the prominent players in the contract research organization services (CROs) market include IQVIA, Covance Inc., Parexel International Corporation., PRA Health Sciences., PPD, Inc., ICON plc, Syneos Health., Charles River, Medpace, Inc. and WuXi AppTec among others.
Scope of the Contract Research Organizations (CRO) Market Report:
The Global Contract Research Organization Services (CROs) Market gives us an in-depth overview of the research trends for the Year 2019-2030. This Report studies the industry on various parameters such as Industry Growth & Revenue by Manufacturers, Company Profiles, Growth Forecasts. It also provides with important credentials such as the history, various expansions and trends, trade overview, regional markets, trade and also market competitors.
To obtain better insights regarding the market scenario, prominent players are increasingly focusing on collaborative initiatives with several institutes, research centers, and companies. For instance, In August 2017, INC Research Holdings, Inc., a global Phase I-IV Contract Research Organization (CRO), and inVentiv Health, Inc., a privately held global CRO & Contract Commercial Organization (CCO), announced successful completion of their merger creating the only fully integrated biopharmaceutical solutions organization, including an end-to-end CRO and CCO.
Rising demand for research and developments related to the new drug discovery with increased outsourcing activities and surge in clinical trials for fighting against various infectious diseases are some important factor driving the growth of contract research organizations (CRO) market.In 2016, about 61 drugs lost their patent protection and in 2017, patents of 43 drugs expired. This has forced many pharmaceutical companies to invest further on drug development process to develop new and more effective products thereby increasing biosimilars and biologics market. This overall factor is expected to drive the market.
Regional Analysis:
Asia Pacific is the fastest-growing market for contract research organization services (CROs) and is anticipated to contribute significantly to the global market share. The growth in this region can be attributed to the rising unmet health care needs and improving healthcare infrastructure. Additionally, companies have shifted their focus to the emerging countries due to the increasing regulatory requirements and approval timeline in developed countries.
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Contract Research Organizations (CRO) Market Segmentation –
By Type:
Clinical Research Services,
Early-Phase Development Services,
Laboratory Services,
and Consulting Services
By Therapeutic area:
Oncology,
Central Nervous System (CNS) Disorders,
Immunological Disorders, Cardiovascular Diseases,
Infectious Diseases and Diabetes
By End-user Type:
Pharmaceutical & Biopharmaceutical Companies,
Medical Device Companies and Academic Institutes
Research Provides Answers To The Following Key Questions:
-How are the manufacturers operating in the Contract Research Organization Services Industry Market plan to adjust their production according to the status of demand during the forecast period, 2020 to 2030?
-How are prominent leaders planning to secure economies in the distribution of their products?
-What are the defects in the existing products and what corrective measures should the product owners take to improve the product?
-How can companies explore new uses for their existing and new products or services, and thereby increasing the demands in the Contract Research Organization Services Industry Market?
-What will be the market share over the estimated period? -What are the general conditions prevailing in the Contract Research Organization Services Industry Market.
Table of Contents
1. INTRODUCTION
1. Market Definition
2. Market Classification
3. Geographic Scope
4. Years Considered for the Study: Historical Years – 2016 & 2017; Base Year – 2018; Forecast Years – 2019 to 2030
5. Currency Used
2. RESEARCH METHODOLOGY
1. Research Framework
2. Data Collection Technique
3. Data Sources
1. Secondary Sources
2. Primary Sources
4. Market Estimation Methodology
1. Bottom Up Approach
2. Top Down Approach
5. Data Validation and Triangulation
1. Market Forecast Model
2. Limitations/Assumptions of the Study
3. ABSTRACT OF THE STUDY
4. MARKET DYNAMICS ASSESSMENT
1. Overview
2. Drivers
3. Barriers/Challenges
4. Opportunities
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