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WiseGuyReports.Com Publish a New Market Research Report On –“ Contract Research Organization Services (CROs) Market Analysis, Strategic Assessment, Trend Outlook and Bussiness Opportunities 2019-2024”.
Contract Research Organization Services (CROs) Industry 2019
The global Contract Research Organization (CRO) market was valued at 34500 million USD in 2017 and is predicted to reach 55300 million USD by the end of 2023, growing at a CAGR of 8.2% during the forecast period.
Contract Research Organizations (CRO) provide services such as drug development, regulatory, and scientific support, as well as infrastructure and staffing support to their clients in an effort to provide flexibility to support in-house capabilities or offer fully outsourced solutions as per the clients’ needs. From a limited clinical trial services provider in 1970s to a full-fledged service industry with services that encompass the entire drug development process, from protocol design to monitoring of phase I to Phase IV clinical trials, data management, lab testing, medical and safety reviews, statistical analysis, the CRO industry has come a long way. Moreover, CROs also generate timely data to support applications for approval of new drugs as well as renewal of approvals of existing drugs.
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PRA Health Sciences
In 2017, the largest share of the contract research organization services market was occupied by the pharmaceutical and biopharmaceutical companies segment due to the increased outsourcing of early phase development services, and clinical and laboratory testing services by pharmaceutical companies to boost profit margins, and reap other benefits like avoiding high capital expenditure and reducing the time required to validate the process and the product.
This report provides a detailed analysis of the Contract Research Organization Services (CROs) market status and the outlook for global and major regions, from angles of players, countries, product types, and end industries.
The Global Contract Research Organization market is segmented by Type, Applications, and Region.
In terms of types, the market is divided into Oncology, CNS Disorders, Infectious Diseases, Cardiovascular Diseases, Immunological Disorders, Respiratory Disorders, Diabetes, and Other Therapeutic Areas.
With respect to Applications, the market is split into Pharmaceutical and Biopharmaceutical Companies, Medical Device Companies, and Academic Institutes.
Geographically, the market spans North America, Europe, Asia Pacific, South America, and the Middle East and Africa.
The report provides country-wise analysis of the sales, revenue, and market share of regions the market spans. These include:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
The Asia-Pacific, especially China, is expected to occupy more market share in following years and is also fast growing in India and Southeast Asia regions.
North America, specifically The United States, is expected to continue to play an important role.
In 2019, a whooping 485$ Mn was invested by Laboratory Corporation of America Holdings to purchase Envigo’s nonclinical contract research organization services business with an aim to expand global research for Covance’s nonclinical drug development.
In the same year, Altasciences collaborated with WuXi AppTec to entirely support drug development programs across all stages (IND-enabling studies to regulatory support for pre and post IND stages) as well as document preparation and submission.
Table of Contents – Major key Points
1 Contract Research Organization Services (CROs) Market Overview
2 Manufacturers Profiles
3 Global Contract Research Organization Services (CROs) Market Competition, by Players
4 Global Contract Research Organization Services (CROs) Market Size by Regions
5 North America Contract Research Organization Services (CROs) Revenue by Countries
6 Europe Contract Research Organization Services (CROs) Revenue by Countries
7 Asia-Pacific Contract Research Organization Services (CROs) Revenue by Countries
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