Albany, NY -- (SBWire) -- 03/20/2019 --Contract research organization (CRO) provide clinical trial and other research support services for the pharmaceutical, biotechnology, medical device industries and also serve government institutions, foundations and universities.
Scope of the Report:
This report studies the Contract Research Organization (CRO) market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Contract Research Organization (CRO) market by product type and applications/end industries.
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CROs provide drug development services, regulatory and scientific support, and infrastructure and staffing support to provide their clients with the flexibility to supplement their in-house capabilities or to provide a fully outsourced solution. The CRO industry has grown from providing limited clinical trial services in the 1970s to a full service industry characterized by broad relationships with clients and by service offerings that encompass the entire drug development process. Today, CROs provide a comprehensive range of clinical services, including protocol design and management and monitoring of Phase I through Phase IV clinical trials, data management, laboratory testing, medical and safety reviews and statistical analysis. In addition, CROs provide services that generate high quality and timely data in support of applications for regulatory approval of new drugs or reformulations of existing drugs as well as new and existing marketing claims. CROs leverage selected information technologies and procedures to efficiently capture, manage and analyze the large streams of data generated during a clinical trial.
There are major two classification of contract research organization (CRO) in this report, preclinical CRO and clinical trial CRO. Globally, the revenue share of each type of CRO is 19.95%and 80.05% in 2015.
At present, the world's large service suppliers are mainly concentrated in USA. The top three service suppliers are Quintiles, LabCorp (Covance), PPD, respectively with global revenue market share as 20.06%, 9.72% and 19.19% in 2015.
The global Contract Research Organization (CRO) market is valued at 34500 million USD in 2017 and is expected to reach 55300 million USD by the end of 2023, growing at a CAGR of 8.2% between 2017 and 2023.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Contract Research Organization (CRO).
Europe also play important roles in global market, with market size of xx million USD in 2017 and will be xx million USD in 2023, with a CAGR of xx%.
Market Segment by Companies, this report covers
Quintiles
LabCorp (Covance)
PPD
Parexel
ICON
PRA
inVentiv
INC
CRL
Wuxi AppTec
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Market Segment by Type, covers
Preclinical CRO
Clinical Trial CRO
Market Segment by Applications, can be divided into
Pharmaceutical Industry
Biotechnology
Medical Device Industry
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Global Contract Research Organization (CRO) Market Is Growing at a Remarkable CAGR of 8.2% to Reach 55.30 Billion USD by the End of 2023
Researchmoz presents this most up-to-date research on "Global Contract Research Organization (CRO) Market by Manufacturers, Countries, Type and Application, Forecast to 2023". The report focuses primarily on quantitative market metrics in order to characterize the growth and evolution of the market.