The Contract Research Organization Services Market report is prepared on the bases of in-depth market analysis with inputs from key market players and industry experts. It covers several significant aspects, such as market trends, key vendors, growth drivers, obstacles, competitive landscape, regional analysis, and challenges.
The global contract research organization services market size will derive growth from increasing clinical trials in the coming years. According to a report by Fortune Business Insights, titled “Contract Research Organization (CRO) Services: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 38,396.4 Mn in 2018. Fortune Business Insights states that the market will reach US$ 90,926.3 Mn by 2026, thereby exhibiting a CAGR of 9.9%.
The report includes thorough compilation of the quantitative analysis of the industry for the period of 12 years in order to assist players to grow in the market. Insights on specific revenue figures generated are also given in the report, along with projected revenue at the end of the forecast period. This study includes a widespread analysis of the key segments of the industry. This analysis sheds light in the current trends and opportunities in the Contract Research Organization Services Market.
Top manufactures of Contract Research Organization Services Market are:
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Key Points of the Contract Research Organization Services Market Report:
Increasing Number of Non-Profit Organizations are Getting Involved in CRO launches
The demand for CROs has been increasing ever since healthcare institutions have unlocked various benefits of contract research organizations in business operations. With the inflating demand for CROs, investors have identified huge growth potential within establishing CROs. The rise in the number of investors involved in developing contract research organizations has contributed to the growth of the global CRO services market. Besides non-profit organizations, the market continues to witness newer CRO launches from leading companies around the world. IN April 2019, FHI 360 announced the launch of a new CRO service, named FHI Clinical.
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Increasing Mergers and Strategic Collaborations to Favor Market Growth
Increasing mergers and acquisitions aimed at developing existing CROs and establishing new CROs are a primary factor that will account for the growth of the global contract research organization services market. The global CRO services market will also benefit from a recent surge in the number of company collaborations and agreements. In 2018, Cereno Scientific announced that it is collaborating with leading CRO ‘OCT’. The company announced the collaboration with the aim of conducting phase 2 clinical trials for study of Cereno’s latest drug ‘CS1’.
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Contract Research Organization (CRO) Services Market to Gain Traction as Number of Patients Worldwide Steadily Expands