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Medical Device and Diagnostics Contract Research Organization Market worth US$ 20,336.08 Million by 2028 - Exclusive Research by The Insight Partners

09-28-2022 09:25 PM CET | Health & Medicine

Press release from: Theinsightpartners.com

The medical device and diagnostics contract research organization market is expected to reach US$ 20,336.08 million in 2028 from US$ 12,314.65 million in 2021. The market is estimated to grow with a CAGR of 7.4% from 2021 to 2028.

According The Insight Partners study on "Medical Device and Diagnostics Contract Research Organization Market Forecast to 2028 - COVID-19 Impact and Global Analysis - By Type, Services" The report offers insights and in-depth analysis of the Medical Device and Diagnostics Contract Research Organization Market emphasizing on various parameters, such as market trends and opportunities, market dynamics, and competitive landscape analysis of leading market players across North America, Europe, Asia Pacific, South and Central America, and Middle East Africa. It also includes the impact analysis of COVID-19 pandemic across the regions.

Key factors driving the market such as increasing number of clinical trials worldwide and rise in adoption of outsourcing activities coupled with increasing R&D expenditures.

Get Sample PDF Copy of Medical Device and Diagnostics Contract Research Organization Market at: https://www.theinsightpartners.com/sample/TIPHE100000958/?utm_source=OpenPR&utm_medium=10590

Market Insights

Increasing number of clinical trials worldwide
Clinical trial is a crucial and significant step to evaluate the safety and effectiveness of a medical strategy, treatment, or device for commercial usage. These studies also help understand and determine the best medical approaches for a particular therapeutic area. Clinical trials are conducted primarily to collect data regarding the safety and efficacy of new drug and device development. Before the approval of drug molecules or medical devices by the regulatory authorities, a series of clinical studies are conducted. The increasing prevalence of various communicable and noncommunicable diseases is creating the need for the development of new drugs or medical devices, which is, in turn, propelling the demand for the medical device & diagnostics contract research organization.

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.

Download the Latest COVID-19 Analysis on Medical Device and Diagnostics Contract Research Organization Market Growth Research Report at: https://www.theinsightpartners.com/covid-analysis-sample/TIPHE100000958/?utm_source=OpenPR&utm_medium=10590

In 2021, the medical devices segment accounted for the largest share of the global medical device and diagnostics contract research organization market, by type. The growth of the medical devices segment is attributed to the increasing number of clinical trials for medical devices, rising spending for research and development, and growing prevalence of chronic diseases. The market for diagnostics segment is estimated to grow at the highest CAGR during the forecast period owing to rapid product approvals and launches. For instance, in May 2019, Roche Diagnostics launched Cobas MTB-RIF/INH test that detects resistance to antibiotics in tuberculosis DNA. Such technological advancements are likely to favor the growth of the segment.

Based on services, the medical device and diagnostics contract research organization market is segmented into clinical data management, monitoring, clinical project management, medical writing, clinical auditing, digital health, clinical strategy, and others. The clinical data management segment held the largest share of the market in 2021, whereas the digital health segment is estimated to register the highest CAGR in the market during the forecast period.

Medical Device and Diagnostics Contract Research Organization Market : Competitive Landscape and Key Developments

PAREXEL International Corporation,ICON PLC,WUXI APPTEC,Charles River Laboratories,Laboratory Corporation of America Holdings,North American Science Associates, Inc.,Qserve Group B.V.,IQVIA,Proxima Clinical Research, Inc.,Activa CRO

Order a Copy of Medical Device and Diagnostics Contract Research Organization Market Shares, Strategies and Forecasts 2021-2028 Research Report at https://www.theinsightpartners.com/buy/TIPHE100000958/?utm_source=OpenPR&utm_medium=10590

Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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