Contract Research Organization Market – Highlights
The changing economy has compelled big pharmaceutical companies to outsource many of their critical operations including research and manufacturing of the therapeutic drugs and medical devices. This has provided favourable backgrounds for the development of the Contract Research Organizations (CROs).
The Contract Research Organizations are those which provides clinical trial and other research support services to pharmaceutical/biotechnology industries and medical device industries, besides others. Moreover, they can also serve government institutions, foundations, and universities in their research process.
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The contract research organizations bundles orders from many clients and thus achieve economies of scale which brings down the price. The reduced costs of manufacturing or service, then, can be transferred to the final client, thereby giving the benefit of cost efficiency. Therefore, economics of production and scale along with several other factors like focus on core competencies, mutual benefit to both contractor and client will drive the market growth. However, the market can be restrained by the high cost of labour, structural changes in industry and employment, exchange rate volatility, flight of contract research to developing regions, and others.
The global contract research organization market is expected to grow at a CAGR of 11.48% during the forecast period.
- PAREXEL International Corporation
- Pharmaceutical Product Development
- PRA Health Sciences
- And others.
Contract Research Organization Market – Segments
The Contract Research Organization market can be segmented into 4 key dynamics for the convenience of the report and enhanced understanding;
By Segments: Comprises Drug Discovery, Post Marketing Services, Clinical Development, and others.
By Clinical Trial Phase: Preclinical Trials, Phase I, II, III & IV, and others.
By End- Users: Pharmaceutical, Biotechnology and Medical Devices Companies, Academic Institutes, among others.
By Region: North America, Europe, APAC and Rest of the World.
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Contract Research Organization Market – Regional Analysis:
The key markets of the global contract research organization market include the Americas, Europe, Asia-Pacific and the Middle East & Africa.
The America market is consolidated due to the concentration of market activity owing to favorable conditions and the presence of a robust drug market in the region.
The Americas is closely followed by Europe due to the availability of funds for research, and a well-developed healthcare sector in the region. Asia-Pacific market is expected to emerge as a growing market due to increase in clinical research activities in the region, especially in China and India. The Middle East & Africa holds a comparatively smaller share of the market but holds potential growth opportunities as the region facilitates conduction of clinical trials at a fraction of costs as compared to the US and Europe.
Major TOC of Global Contract Research Organization Market Research Report – Forecast till 2023:
1 REPORT PROLOGUE
2 MARKET INTRODUCTION
3 RESEARCH METHODOLOGY
4 MARKET DYNAMICS
5 MARKET FACTOR ANALYSIS
6 GLOBAL CONTRACT RESEARCH ORGANIZATION MARKET, BY SEGMENT
7 GLOBAL CONTRACT RESEARCH ORGANIZATION MARKET, BY CLINICAL TRIAL PHASE
8 GLOBAL CONTRACT RESEARCH ORGANIZATION MARKET, BY END USER
9 GLOBAL CONTRACT RESEARCH ORGANIZATION MARKET, BY REGION
10 COMPETITIVE LANDSCAPE
11 COMPANY PROFILE
12 List of Tables
13 List of Figures
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