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Healthcare CRO Services Global Market Report 2024 - By Size, Share, Trends And Industry Demand, Forecast To 2033
Healthcare CRO Services Market
As per the report, the healthcare cro services market size has grown strongly in recent years. It will grow from $56.8 billion in 2023 to $61.61 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The healthcare cro services market size is expected to see strong growth in the next few years. It will grow to $85.73 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%.
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The Role Of Increasing Healthcare Expenditures In Driving Growth Of The Healthcare Cro Services Market
The rise in healthcare expenditures is expected to propel the growth of the healthcare CRO services market going forward. Health expenditures refer to all costs associated with providing health services, family planning activities, nutrition programs, and emergency help focusing on health. A larger pool of financing for medical research and development is made possible by rising healthcare spending, increasing demand for healthcare CRO services, and their ability to assist clinical trials and studies. For instance, in February 2023, according to the Centers for Medicare and Medicaid Services, a US-based federal agency, in 2021, the United States spent 4.3 trillion dollars, or $12,914 per person, on health care, a 2.7 % increase compared with the previous year. Further, spending on healthcare accounted for 18.3 % of the country's GDP. Therefore, the rise in healthcare expenditures is driving the growth of the healthcare CRO services market.
Strategic Partnerships Drive Progress In The Healthcare Cro Services Market
Major companies operating in the healthcare CRO services market are adopting a strategic partnership approach to deliver advanced Proteomics CRO services for biopharmaceutical and biomarker clients worldwide. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in January 2023, Bruker Corporation, a US-based manufacturer of scientific instruments, partnered with Biognosys AG, a Switzerland-based provider of healthcare CRO services. The collaboration between Bruker and Biognosys is anticipated to generate distinctive synergies, leveraging Biognosys' extensive range of proprietary proteomics services, software, and kits in conjunction with Bruker's innovative timsTOF platform. This strategic partnership will lead to the establishment of Biognosys' inaugural laboratory for advanced proteomics CRO services in the United States.
The healthcare cro services market covered in this report is segmented -
1) By Service Type: Early Phase Development, Clinical Development Services, Laboratory Services, Consulting Services
2) By Therapeutic Area: Oncology, CNS Disorder, Cardiovascular Disease, Metabolic Disease, Infectious Disease, Diabetes, Other Therapeutic Areas
3) By End User: Pharmaceutical Companies, Medical Device Companies, Academic Institutes
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Major companies operating in the healthcare cro services market report are Laboratory Corporation of America Holdings., IQVIA Inc., Icon Plc., PPD Inc., Wuxi Apptec Co. Ltd., Syneos Health Inc., Parexel International Corporation, Charles River Laboratories International Inc., Covance Inc., Medpace Inc., Pharmaron Beijing Co. Ltd., BioClinica Inc., Chiltern International Ltd., Evotec SE, PSI CRO AG, Premier Research Group Ltd., Worldwide Clinical Trials Inc., Caidya, BioTelemetry Inc., Syngene International Limited, Novotech CRO, Celerion, GVK Biosciences Private Limited, Synteract Inc., Veristat LLC., ACM Global Laboratories, ClinTec Luxembourg SA, Clinlogix LLC
Contents of the report:
1. Executive Summary
2. Healthcare CRO Services Market Report Structure
3. Healthcare CRO Services Market Trends And Strategies
4. Healthcare CRO Services Market - Macro Economic Scenario
5. Healthcare CRO Services Market Size And Growth
…..
27. Healthcare CRO Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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