Press release
Global Contract Research Organization (CRO) Market Size, Trends & Forecasts 2021 : Current and Future Trends
Scope of the Report
The report entitled Global Contract Research Organization (CRO) Market: Size, Trends & Forecasts (2017-2021), provides analysis of the global contract research organization (CRO) market, with detailed analysis of market size and growth, and segmentation of the industry. The analysis includes the market by value, by outsourced penetration and by segmentation.
Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global contract research organization (CRO) market has also been forecasted for the years 2017-2021, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
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Lab Corporations, INC Research, PRA Health Science Inc. and QuintilesIMS (IQVIA) are some of the key players operating in the global contract research organization (CRO) market, whose company profiling has been done in the report. In this segment of the report, business overview, financial overview and business strategies of the companies are provided.
Company Coverage
QuintilesIMS (IQVIA)
Lab Corporations
INC Research
PRA Health Service Inc.
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Executive Summary
Contract Research Organization or CRO is described as an organization which provide assistance and services generally to the pharmaceutical and biotechnology industries in the form of data research, drug tests, clinical trials, post development marketing, and related services for the development of both drugs and medical devices. CROs are available in a vast range from large, international full service organizations to small, niche specialty groups and can propose their clients the experience of moving a new drug/medicine or device from its commencement to FDA marketing approval without the drug sponsor having to maintain a staff for these services.
CRO performs many activities which are segmented into four functions/segments: post approval, pre-clinical, clinical and central lab. Clinical segments are the most important segment as all the clinical trials are performed in this segment after which only FDA approve the drug.
There are many services which are provided by the CRO such as project management, data entry and validation, database build, clinical trial data management, medicine and disease coding, quality reporting. Many points are looked before selecting a CROs service such as scientific expertise, technology capability, geographical presence, access to data, cost efficiency, breadth of service, etc. CRO assistance comes with both pros and cons. There are many advantages of taking CRO assistance such as time efficiency, expertise and experience, cost effectiveness, proper research, etc. However, there are some disadvantages as well like confidentiality, communication management, etc.
The global contract research organization (CRO) market is expected to increase at a significant growth rate during the forecasted period (2017-2021). The global contract research organization (CRO) market is supported by various growth drivers, such as increased use of mass spectrometry in clinical labs growing spending in biopharmaceutical research and development, escalating costs of therapeutic development, favorable outsourcing trends, etc. Yet, the market faces certain challenges, such as, industry consolidation, data integrity, few barriers to entry for limited-service providers, etc. Few market trends are also provided such as, diverse and faster growing end-market, growing preference of outsourcing to full service CROs by biopharmaceutical companies, etc.
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Table of Contents
1. Executive Summary
2. Introduction
2.1 Contract Research Organizations: An Overview
2.1.1 Contract Research Organizations: Meaning
2.1.2 Functions Of CRO in Drug Discovery and Development Process
2.1.3 Types of Services Provided by CROs
2.1.4 Requisites for Selecting CRO
2.1.5 CRO Roles & Responsibility
2.1.6 Advantages and Disadvantages of Outsourcing to CRO
3. Market Analysis
3.1 Global CRO Market: An Analysis
3.1.1 Global CRO Market by Value
3.2 Global CRO Market: Segment Analysis
3.2.1 Global CRO Market by Segment
3.2.2 Global CRO Discovery Market by Value
3.2.3 Global CRO Preclinical Market by Value
3.2.4 Global CRO Clinical Development Market by Value
3.2.5 Global CRO Central Lab Market by Value
4. Market Dynamics
4.1 Growth Drivers
4.1.1 Growing Spending in Biopharmaceutical Research and Development
4.1.2 Escalating Costs of Therapeutic Development
4.1.3 Regulatory and Reimbursement Pressures on Biopharma
4.1.4 Healthy Biotech Funding Environment
4.1.5 Favorable Outsourcing Trends
4.1.6 Expanding Scope of CRO solutions
4.1.7 Globalization of Clinical Trials
4.1.8 Rising Complexity of Therapeutics and Associated Clinical Trials
4.1.9 Broader Requirement of Therapeutic Expertise
4.2 Challenges
4.2.1 Industry Consolidation
4.2.2 Data Integrity
4.2.3 Few Barriers to Entry for Limited-Service Providers
4.3 Market Trends
4.3.1 Diverse and Faster Growing End-Market
4.3.2 Growing Focus on Technology
4.3.3 Growing Preference of Outsourcing to Full Service CROs by Biopharmaceutical Companies
4.3.4 NMEs Expected to Increase
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Table of Contents
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