Clinical CRO Market Growth Analysis, Trends, Developments and Forecast to 2027 - IQVIA, Covance, Syneos Health

The Clinical CRO market research report provides an in-depth analysis of the current’s trends, latest developments, scenario, market size, various drivers, restraints, and major players along with their profile details. Research report offers the historic data for year 2021 and 2027 and also provides the forecast data from year 2021 to 2027 which is based on revenue. With the help of all these information research report helps the market participants to improve market positions. With the help of all these insights Clinical CRO market research report recommends a business strategy for present market participants to strengthen their position in the market.

The data studied for the preparation of the report takes into account the current major players and the major players that will be listed. Industry top players are: IQVIA, Covance, Syneos Health, Pharmaceutical Product Development?PPD?, PAREXEL International, MedPace, Clintec, PRA Health Sciences, KCR, ICON, Quintiles Transnational, Parexel, Charles River Laboratories (CRL), Medidata Solutions, Pharmaron, GVK Bioscie

The Global Clinical CRO Market Size is Projected to Reach at a CAGR of 10.77% during 2021-2027.

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Market Overview

Contract research organizations provide support to the pharmaceutical, biotechnology, and medical device industries. The market growth can be attributed to the growing R&D expenditure, increased outsourcing of R&D activities, and a rising number of clinical trials. Efficiency is considered as the most important factor in light of the financial burden faced by pharmaceutical companies from all directions. Patent expiries leading to generic rivalry and stringent demands from regulators continue to have an impact on the bottom lines of pharmaceutical companies.

According to the Pharmaceutical Research and Manufacturers of America (PhRMA), the total R&D expenditure by the biopharmaceutical industry in the United States was estimated to be USD 102 billion in 2018. Additionally, the PhRMA members had invested nearly USD 83 billion in R&D activities in 2019. Furthermore, more than 260 vaccines are in the pipeline by the biopharmaceutical companies for various diseases, including COVID-19 as per PhRMA, 2020. 

Covid-19 Impact and Recovery Analysis:

The number one goal of this Clinical CRO Market document is to provide Quantitative records withinside the form of charts and graphs. The information regarding market fundamentals is provided surely for the sake of readers. All the readers on the side of stakeholders will understand the market situations and business enterprise environment because it needs to be through this properly-planned Market analysis. It turns smooth to collect the effect of COVID-19 on the market boom through this Clinical CRO market document.

Clinical CRO market Segmentation By Type:

Discovery

CMC

Preclinical

Clinical Research

Laboratory Services

Clinical CRO market Segmentation By Application:

Pharmaceutical & Biopharmaceutical Companies

Medical Device Companies

Academic Institutes

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Key Market Trends

The Early-phase Development Services Segment is Poised to Witness Robust Growth Over the Forecast Period

With a growing number of patents expiring, the competition from generic counterparts of drugs is increasing and drug makers are under pressure to replace the revenue loss due to generics. Furthermore, R&D costs are increasing due to the complexity of drug molecules and more stringent regulatory requirements. Drug discovery and development processes are becoming increasingly complex. To counter this complexity and streamline the operations, pharmaceutical firms are outsourcing early drug development processes.

Regional Analysis:

North America Captured the Largest Market Share and it is Expected to Retain its Dominance Over the Forecast Period

Pricing pressure due to the changing reimbursement scenario and generic competition is causing major pharmaceutical firms to outsource R&D and clinical trials, which is supplementing the growth of CRO services in the North American region. The increasing R&D investment by pharmaceutical companies in the development of novel therapeutics is driving the studied market growth in the region. In October 2020, FDA awarded six new grants of an amount of more than USD 16 million for a period of 4 years to fund the clinical trials carried by academia and industry players, through the Orphan Products Grants Program, to advance the development of therapeutics in the treatment of rare diseases.

North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

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Recent Developments

In February 2021, ICON PLC entered into a definitive agreement to acquire PRA Health Sciences Inc., thus expanding its portfolio in healthcare intelligence and clinical research.
In February 2021, Charles River Laboratories entered into a definitive agreement to acquire Cognate BioServices Inc., a cell and gene therapy contract development and manufacturing organization (CDMO), to expand Charles River’s scientific capabilities in the high-growth cell and gene therapy sector.

Significant Features and Key Highlights of the Reports:

– Detailed overview of Clinical CRO Market

– Changing market dynamics of the industry

– In-depth market segmentation by Type, Application etc.

– Historical, current and projected market size in terms of volume and value.

– Recent industry trends and developments

– Competitive landscape of Clinical CRO Market

– Strategies of key players and product offerings

– Potential and niche segments/regions exhibiting promising growth.

The report gives answers to the following:

What strategies are followed by key players to fight this Covid-19 situation?
What are the essential matters drivers, opportunities, challenges, and dangers of the market will face surviving?
Which are the leading market players in the Clinical CRO industry?
What is the predicted compound annual growth rate (CAGR) of the global marketplace during the forecast period (2021-2027)?
What could be the anticipated value of the Clinical CRO marketplace in the during the forecast period?
Impact of COVID-19:

The research includes historic data from 2016 to 2021 and forecasts until 2027 which makes the Clinical CRO market report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Customization: -

The Global Clinical CRO Market report may be modified to meet your specific business needs. Because we understand what our clients want, we provide up to 20% customization for any of our Market Intelligence Data reports at no additional cost to all of our Users.

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