Harrisburg, NC -- (SBWIRE) -- 02/20/2019 -- The global market for CRO's across the clinical trial process should grow from $45.5 billion in 2017 to reach $72.3 billion by 2022 at a compound annual growth rate (CAGR) of 9.7% for the period of 2017-2022.
The report tracks the major market events including product launches, development trends, mergers & acquisitions, and the innovative business strategies opted by key market players. Along with strategically analyzing the key markets, the report also focuses on industry-specific drivers, restraints, opportunities and challenges in the Contract Research Organization (CRO) Services Market.
Profiles of major companies in the industry, including: Charles River Laboratories, Icon Plc, Parexel, Pharmaceutical Product Development and Quintiles.
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Essential points covered in Global Contract Research Organization (CRO) Services Market 2018 Research are:-
- What will the market size and the growth rate be in 2022?
- What are the key factors driving the Global Contract Research Organization (CRO) Services market?
- What are the key market trends impacting the growth of the Global Contract Research Organization (CRO) Services market?
- What are the challenges to market growth?
- Who are the key vendors in the Global Contract Research Organization (CRO) Services market?
- What are the market opportunities and threats faced by the vendors in the Global Contract Research Organization (CRO) Services market?
- What are the key outcomes of the five forces analysis of the Global Contract Research Organization (CRO) Services market?
This report provides a detailed analysis of the Contract Research Organization (CRO) Services market with description of market sizing and growth, segmentation of market by products & services and major markets, top market players etc. The report recapitulates the factors that will be responsible for the growth in the market in the forecasted period.
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- 19 tables
- An overview of the global market for contract research organization (CRO) services
- Analyses of global market trends, with data from 2016, 2017, and projections of compound annual growth rates (CAGRs) through 2022
- Analyses of the CRO market by services, trial phases, and geographical region
- Coverage of all major therapeutic areas covered by CROs in the clinical trial process and the types of services they provide
- Examination of competitive landscape of the market, including mergers and acquisitions, and current pharma CRO contracts
- Company profiles of key market players, including Charles River Laboratories, Icon Plc, Parexel, Pharmaceutical Product Development and Quintiles
The research includes historic data from 2013 to 2019 and forecasts until 2022 which makes the report an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
The report will make detailed analysis mainly on above questions and in-depth research on the development environment, market size, development trends, operation situation and future development trends of Contract Research Organization (CRO) Services on the basis of current situation of the industry in 2018 so as to make judgment on the competitive situation of Contract Research Organization (CRO) Services Market and assist manufacturers and investment organization to better grasp the development course of Contract Research Organization (CRO) Services Market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Executive Summary -
The CRO market continues to exhibit stellar growth, largely attributable to increased demand for services in clinical trials between Phases II and IV, which account for approximately REDACTED of total CROrevenue. All segments, including preclinical and post-approval, continue to grow solidly as well. Outlook for the industry remains extremely positive; with the proliferation of therapies for orphan drugs and precision-based medicines, clinical trials are becoming increasingly complex and are driving demand for sophisticated outsourcing partners with expertise in combination products, risk-based monitoring, disease registries, real world evidence and medical affairs. Expanding service offerings and capabilities remain a predominant strategy among CROs.
CROs obtain the lion's share of their revenue from actual clinical trials, which accounted for nearly REDACTED in CRO revenue last year. Discovery, preclinical and central lab services all represent strong areas of growth despite accounting for a smaller share of revenue.
The geographical distribution of clinical trials is slowly shifting from developed nations to emerging countries; rising costs of trials and difficulty in patient recruitment has led biopharma companies to shift toward regions such as Central and Eastern Europe, Asia-Pacific and Latin America for quicker patient recruitment and cost savings. The greater disease variation among developing countries also helps create more diverse population samples, particularly for rare disease studies.
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