Healthcare Contract Research Outsourcing Market: Pin-Point Analysis For Changing Competitive Dynamics

A new Transparency Market Research report states that the global Healthcare Contract Research Outsourcing Market stood at US$25.08 bn in 2011 and is anticipated to reach US$65.03 bn by 2018. It is expected to expand at a healthy CAGR of 14.70% from 2012 to 2018. The title of the report is, “Healthcare Contract Research Outsourcing Market - Global Industry Analysis, Size, Share, Trends And Forecast 2012 - 2018”.

As per this report, the market for healthcare contract research outsourcing is boosted by the reducing productivity and the rising costs of healthcare research. In addition, factors such as the decrease in research and development projects within the field of new drug formulations and the globalization of drug development processes are also fuelling the market for healthcare contract research outsourcing.

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On the other hand, factors such as quality problems within the performed research and a number of approval processes and regulations posed on drug discovery and research in a number of nations are amongst the prime factors that may impede the growth of the market in the coming years. In addition, data security problems owing to a lack of supervision of data research processes may also restrain the growth of the market in forthcoming years.

On the basis of service, the healthcare contract research outsourcing market is segmented into drug discovery, clinical trial services, and preclinical studies. Amongst these, the segment of clinical trial services led the market and with a valuation of US$14.21 bn in 2010. The segment of clinical trial services is further segmented into preclinical services, discovery services, phase IV, phase III, phase II, and phase I trial services. Amongst these, the segments of preclinical and discovery services emerged as the most prominent services.

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The segment of phase IV trial services is further segmented into medical writing services, regulatory services, clinical data management (CDM) services, and others. On the basis of destination research group, the market for healthcare contract research outsourcing is segmented into clinical trial laboratories, contract research organization (CROs), and academic medical centers (AMCs).

In terms of geography, the market is segmented into Europe, North America, Asia, and Rest of the World (RoW). Amongst these, the region of North America led the market for healthcare contract research outsourcing and held a share of 64.1% in the market. The regions of Europe and Asia trailed North America. Amongst these, the Asia healthcare contract research outsourcing market is predicted to grow exponentially owing to the rising count of contract research organizations in this region.

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According to the report, the chief players operating in the healthcare contract research outsourcing market are Covance, PPD, Quintiles, Parexel, Icon, Plc. Medidata Solutions, CRL, Theorem Clinical research, and InVentiv Health, among others.

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This release was published on openPR.