The global contract research organization services market is expected to reach US$ 79.2 Bn by 2027, expanding at a CAGR of 8.2% during the forecast period from 2019 to 2027.
Contract research organization (CRO) services are outsourced services that are used by pharmaceutical and biotechnology companies to reduce the cost and time of drug development. CRO`s provide services such as clinical trial management, preclinical research, clinical data management, biostatistics, and medical writing.
The global contract research organization services market is driven by the increasing number of clinical trials and rising demand for outsourcing of clinical trials. In addition, the increasing number of drug approvals and the growing demand for personalized medicine are expected to drive the market during the forecast period.
The List of Top CROs
1. Covance Inc.
2. ICON plc
3. PRA Health Sciences, Inc.
4. Parexel International Corporation
5. Charles River Laboratories International, Inc.
6. Quintiles IMS Holdings, Inc.
7. INC Research Holdings, Inc.
8. Wuxi AppTec
9. Pharmaceutical Product Development, LLC
10. Medpace Holdings, Inc.
The global contract research organization services market is segmented on the basis of service, therapeutic area, and end user. Based on service, the market is segmented into preclinical services, clinical services, and post–approval services.
The preclinical services segment is expected to hold the largest share of the market in 2018. The large share of this segment is attributed to the increasing number of preclinical studies and the rising demand for preclinical services.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global contract research organization services market based on various segments.
It also provides market size and forecast estimates from the year 2018 to 2027 with respect to five major regions, namely; North America, Europe, Asia–Pacific (APAC), Middle East and Africa (MEA) and South & Central America.
The contract research organization services market by each region is later sub–segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the contract research organization services market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend.
The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the contract research organization services market in these regions.
