The new report “Global contract research organization (CROs) services market” is expected to reach USD 42.0 billion by 2024, at a CAGR of 7.5% in the forecast period 2017 to 2024. The new market report contains data for historic year 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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CRO stands for contract research organization which provides research services to a biotechnology, medical devices and pharmaceutical companies on a contract basis. It provides numerous services such as biologic test development, clinical research, biopharmaceutical advancement, clinical trials administrations, preclinical research and commercialization.
Market Segmentation: Global Contract Research Organization (CROs) Services Market
On the basis of type of services, the contract research organization (CROs) services market is segmented into clinical research services, early-phase development services, and laboratory services. Clinical research services are sub segmented into 1, phase 2, phase 3 and phase 4. Early-phase development services are sub segmented into discovery studies, chemistry, manufacturing, & control (CMC) and preclinical services. Preclinical services are further sub categorized into pharmacokinetics/ pharmacodynamics (pk/pd), toxicology testing services and others.Laboratory services are sub segmented into bioanalytical testing services and analytical testing services. Analytical testing services are further sub segmented into physical characterization, raw material testing, batch-release testing and stability testing.
On the basis of therapeutic area, the contract research organization (CROs) services market is segmented into oncology, cardiovascular, central nervous system (CNS), respiratory and
On the basis of end users, contract research organization (CROs) services market is segmented into pharmaceutical and biopharmaceutical companies, medical device companies and academic institutes.
Key Drivers: Global Contract Research Organization (CROs) Services Market
Contract research organization (CROs) services market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of contract research organization (CROs) services market for global, Europe, North America, Asia Pacific and South America.
Key Points: Global Contract Research Organization (CROs) Services Market
Some of the major players operating in contract research organization (CROs) services market are Quintiles IMS., American Preclinical Services, Pharmaceutical Product Development, LLC, BTS Research, ICON Plc, Laboratory Corporation Of America Holdings, Chiltern International Ltd., PAREXEL International Corporation, PRA Health Sciences, Inc., WuXi App Tech, InVentiv Health, INC Research Holdings Inc., Charles River Laboratories International Inc. among others.
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