Press release
Contract Research Organization (CRO) Market Size - Industry Growth Report, 2028|Labcorp, IQVIA
Contract research organization (CRO) provide clinical trial and other research support services for the pharmaceutical, biotechnology, medical device industries and also serve government institutions, foundations and universities.
Highlights
Considering the economic change due to COVID-19 and Russia-Ukraine War Influence, the global Contract Research Organization (CRO) market is projected to reach US$ 139600 million by 2028 from an estimated US$ 73040 million in 2022, at a CAGR of 11.4% during 2023 and 2028.
Global Contract Research Organization (CRO) key players include Labcorp, IQVIA, ICON, Parexel, Syneos Health, etc. Global top five manufacturers hold a share over 30%.
USA is the largest market, with a share over 45%, followed by Europe and China, both have a share over 40%
In terms of product, Clinical Trial CRO is the largest segment, with a share over 65%. And in terms of application, the largest application is Pharmaceutical, followed by Biotechnology, Medical Device, etc.
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Complete study of the global Contract Research Organization (CRO) market is carried out by the analysts in this report, taking into consideration key factors like drivers, challenges, recent trends, opportunities, advancements, and competitive landscape. This report offers a clear understanding of the present as well as future scenario of the global Contract Research Organization (CRO) industry. Research techniques like PESTLE and Porter's Five Forces analysis have been deployed by the researchers. They have also provided accurate data on Contract Research Organization (CRO) production, capacity, price, cost, margin, and revenue to help the players gain a clear understanding of the overall existing and future market situation.
Segmental Analysis
The report has classified the global Contract Research Organization (CRO) industry into segments including product type and application. Every segment is evaluated based on growth rate and share. Besides, the analysts have studied the potential regions that may prove rewarding for the Contract Research Organization (CRO) manufacturers in the coming years. The regional analysis includes reliable predictions on value and volume, thereby helping market players to gain deep insights into the overall Contract Research Organization (CRO) industry.
Global Contract Research Organization (CRO) Market Segment By Type:
Preclinical CRO
Clinical Trial CRO
Global Contract Research Organization (CRO) Market Segment By Application:
Pharmaceutical
Biotechnology
Medical Device
Others
Competitive Landscape
It is important for every market participant to be familiar with the competitive scenario in the global Contract Research Organization (CRO) industry. In order to fulfill the requirements, the industry analysts have evaluated the strategic activities of the competitors to help the key players strengthen their foothold in the market and increase their competitiveness.
Key companies operating in the global Contract Research Organization (CRO) market include: Labcorp, IQVIA, Syneos Health, Parexel, PRA, PPD, CRL, ICON, Wuxi Apptec, Medpace Holdings
Key questions answered in the report:
What is the growth potential of the Contract Research Organization (CRO) market?
Which product segment will grab a lion's share?
Which regional market will emerge as a frontrunner in the coming years?
Which application segment will grow at a robust rate?
What are the growth opportunities that may emerge in the Contract Research Organization (CRO) industry in the years to come?
What are the key challenges that the global Contract Research Organization (CRO) market may face in the future?
Which are the leading companies in the global Contract Research Organization (CRO) market?
Which are the key trends positively impacting the market growth?
Which are the growth strategies considered by the players to sustain their hold in the global Contract Research Organization (CRO) market?
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