Global Clinical Research Services Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023

Global clinical research services market is driven by increased burden of chronic diseases such as HIV, cancer and cardio vascular diseases, which requires huge investments. Pharmaceutical and biotechnological companies outsource their clinical research activities to clinical research service organizations to reduce the cost and regulatory burdens. In addition, enormous growth in biopharmaceutical segment, discovery of the new drugs through innovation and increase in clinical trials are expected to boost the clinical research services market over the forecast period. However, increase in clinical research costs, stringent regulatory procedures and ethical issues are hindering the clinical research services market.

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Clinical research services market has been segmented based on type of service, therapeutic area, end user, and region

Based on type of service, clinical research services market is segmented into
Treatment Research
Prevention Research
Diagnostic Research
Screening Research
Quality of LifeResearch
Genetic studies
Epidemiological studies
Clinical Trials
Others

Base on disease area, clinical research services market is segmented into
Oncology
Central Nervous System Disorders
Cardio Vascular Disorders
Diabetes
Infectious Diseases
Others

Based on end-user, clinical research services market is segmented into
Pharmaceutical Companies
Biotechnological Companies
Research Organizations
Others

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Clinical research services market is at steady stage of growth. The market is expected to grow at a significant rate during the forecast period. Market players are expanding their markets by offering various services and collaborations. For instance in June 2017, PAREXEL International Corporation, a leading global biopharmaceutical services organization, collaborated with Sanofi to advance the use of wearable devices to transform the collection of data in clinical trials. Moreover, In order to maintain market position, companies adopting mergers and acquisitions as their key strategies. For instance, in May, 2017 and inVentiv Health, Inc. and INC Research Holdings, Inc., announced a definitive merger agreement to create a leading biopharmaceutical solutions organization. Similarly, in April 2016, Charles River Laboratories acquired WIL Research to enhance its global footprint, scientific capabilities, and access to growing market segments.

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Geographically clinical research services market has been segmented into following regions viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America clinical research services market expected to be leading clinical research services market owing to factors such as favourable regulations, developed infrastructure, increase in research and development activities and availability of pool of patients. Europe clinical research services market expected to grow at significant rate owing to increase in R&D activities by pharma and biotechnological companies and favourable regulatory environment and government policies. Asia Pacific region clinical research services market is expected to be fastest growing owing to developing regulatory policies, low cost of the research and availability of a large number of patients.

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Some of the players in Clinical Research Services market are Laboratory Corporation Of America Holdings (U.S.), Quintiles Transnational Holdings Inc. (U.S.), PAREXEL International Corporation (U.S.), ICON Plc (Ireland), PRA Health Sciences, Inc. (U.S.), InVentiv Health Inc. (U.S.), Wuxi AppTec (Cayman) Inc. (China), Pharmaceutical Product Development, LLC (U.S.), INC Research Holdings Inc. (U.S.), and Charles River Laboratories International Inc. (U.S.), to name a few.

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