The contract research organization (CRO) services market is expected to reach $85.979 billion by 2024 from $51.850 billion in 2018 growing at a CAGR of 8.79%. A contract research organization is a company that helps conduct a clinical research for a sponsor company ranging from pre-clinical development of new products to post marketing research activities. Outsourcing research activities especially clinical research to contract research organizations helps sponsor companies to focus on other activities within their organization along with saving costs and also reducing the time period required to conduct the clinical trial. The market is expected to show a robust growth during the forecast period. The growth in the market may be attributed to the increasing outsourcing activities by the sponsor companies due to the cost saving and time reduction for the trial. Companies also opt for CRO services if they do not have complete know how of regulatory affairs in a particular country of interest, thus, positively impacting the market. However, shortage of the skilled professionals in the CROs may restrain the market for the contract research organizations during the given time frame.
The Contract Research Organization Services Market – Forecasts from 2019 to 2024 is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by services type, application, end-user, and geography
The contract research organization services market has been segmented based on services type, application, end-user, and geography. By services, the market is segmented as discovery services, preclinical services, clinical trials, clinical services. By application, the market is segmented as oncology, CNS disorders, infectious disease, cardiovascular disease, respiratory disease, and others. The market is evaluated by end-user such as pharmaceutical and biopharmaceutical companies, medical device companies, and research institutes.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa (MEA), and the Asia Pacific regions. The report also analyzes 14 major countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the contract research organization services market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the contract research organization services market.
By Service Type
Clinical Trials Services
Pharmaceutical and Biopharmaceutical Companies
Medical Device Companies
Middle East and Africa