Contract Research Organizations Market Revenue, Opportunity, Segment and Key Trends 2017-2023

Our latest research report entitled Contract Research Organizations Market (by therapeutic area (cardiac, central nervous system, oncology, infectious diseases), end-user (early-stage development services and last-stage development services)) provides complete and deep insights into the market dynamics and growth of Contract Research Organizations. Latest information on market risks, industry chain structure Contract Research Organizations cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential Contract Research Organizations growth factors.

The forecast Contract Research Organizations Market information is based on the present market situation, growth opportunities, development factors, and opinion of the industry experts. An in-depth analysis of the company profiles, Contract Research Organizations on global and regional level and applications is conducted. The analysis of downstream buyers, sales channel, raw materials, and industry verticals is offered in this report. According to report the global contract research organizations market is projected to grow at a CAGR of 7.5% over the forecast period of 2017-2023.

Contract research organizations (CROs) provide research and development (R&D) services to pharmaceutical, biotechnology companies as well as various government institutions, foundations and universities on a contract basis. During the recent years, many pharmaceutical and biotechnology companies have become increasingly reliant on CROs and other contract research service providers to conduct their R&D operations. CROs have started offering services to their vendors for all phases of R&D like pre-clinical services, clinical trials and post-clinical trial services. Outsourcing R&D operations to CROs allows these companies to focus on their core activities such as sales, marketing, product management, etc. It also helps them to increase their capability for in-house regulatory services, clinical data management, pharma-covigilance, biostatistics, etc. Pharmaceutical companies outsource their R&D services to CROs for various benefits, in which some of the key benefits for them include access to capabilities which is not found in-house, increase their global research and operations, improve quality with cost-efficient resource utilization, access to innovation and achieve timely availability of product into the market.

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The major driving factors for the growth of global CRO market include pricing pressures in the healthcare markets, the need for R&D productivity, large number of patent expirations and stringent regulatory policies for the drug approvals. In addition, increased outsourcing R&D activities by pharmaceutical companies are one of the major driving factors for this market. Apart from these the other driving factors for this market include, company’s vision to focus on their core business activities and to achieve cost efficiency in their business operations. Despite the existence of these drivers, the market for CROs is facing some serious challenges that might hamper the growth of this market. Some of the challenges of this market include stringent regulatory compliance for product approvals, shortage of experienced professionals to conduct R&D activities and large number of product recalls from the market due to serious complications of the newly approved drug molecules. Though the global CRO market is facing various challenges, it is expected to grow a healthy growth rate during the forecast period owing to increase in M&A activities among the companies, increase in R&D investment by various companies, establishment of large number of clinical trial outsourcing organizations in emerging markets and increase in private equity investment particularly for R&D activities.

Segment Covered

The report on global CROs market covers segments such as, therapeutic area and end-user. On the basis of therapeutic area the global contract research organizations market is categorized into cardiac, central nervous system, oncology, infectious diseases and others. On the basis of end-user the global contract research organizations market is categorized into early-stage development services and last-stage development services.

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