Key players in Contract Research Organization Services Market dominated by IQVIA (US), LabCorp (US), Syneos Health (US), PAREXEL (US), PPD (US), ICON plc (Ireland), PRA Health Sciences (US), and Charles River (US). The CRO services market is expected to reach USD56.34 billion by 2023 from USD 39.13 billion in 2018, at a CAGR of 7.6%.
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In Contract Research Organization Services Market, Growing R&D expenditures, increased outsourcing of R&D activities, and increasing number of clinical trials are the major factors driving the growth of the CRO services market. Top-down and bottom-up approaches were used to validate the size of the global CRO services market and estimate the size of other dependent submarkets.
Key Target Audience
- Pharmaceutical and biopharmaceutical companies
- Contract research organizations (CROs)
- Medical device manufacturing companies
- Academic and research institutes
- Government associations
- Market research and consulting Firms
- Venture capitalists and investors
Contract Research Organization Services Market Research, Asia Pacific region is expected to witness highest CAGR during forecast period, owing rapid growth in pharmaceutical & biopharmaceutical industry, low cost of clinical trials, rising number of CROs, and favorable government policies in region.
Increasing number of clinical trials & rising prevalence of cancer world wide are major factors supporting its growth during forecast period.
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Contract Research Organization Services Market, the laboratory services segment is expected to register the highest CAGR during the forecast period. The high growth of this segment is attributed to the increasing number of pipeline drugs and growing outsourcing of laboratory services by pharmaceutical and bio-pharmaceutical companies.
1 CRO Services Market Overview
2 Asia Pacific: CRO Services Market, By Type and Country
3 CRO Services Market: Geographic Growth Opportunities
4 CRO Services Market: Geographic Mix
5 CRO Services Market: Developing vs Developed Countries
Report analyzes Contract Research Organization Services Market, by type, therapeutica area, end user, and region. Based on type, clinical research services accounted for the largest share of global CRO services market in 2017.
This can be attributed to rapid growth in the geriatric population and the subsequent increase in the prevalence of chronic diseases, increasing development of new drugs, and growing acceptance of evidence-based medicine for various therapeutic areas.
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North America is expected to account for the largest share of Contract Research Organization Services Market followed by Europe. However, Asia is expected to register the highest CAGR during the forecast period.
The high growth in this regional segment is attributed to the increasing adoption of digital imaging systems, rising disposable income, growing number of awareness programs and symposia, and growing venture capital investment.
2 Market Share Analysis
3 Competitive Situations & Trends
4 New Product Launches
5 Agreements & Collaborations
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