The Global Contract Research Organizations Market Report by The Business Research Company covers contract research organizations market drivers and restraints, contract research organizations market size, major players, and the impact of COVID-19 on the contract research organizations market.
The CRO production market consists of the value of CRO services produced by entities (organizations, sole traders and partnerships) that provide outsourcing of research services such as clinical trial data management, database design and build, data entry and validation, medicine and disease coding, project management, quality and metric reporting, safety and efficacy summaries, and statistical analysis plans and reports, on a contract basis. The production market for a particular geography includes the value of CRO services produced or generated by CRO service providers operating in that geography.
The contract research organization (CRO) consumption market consists of sales of contract research organizations’ services and related goods by entities (organizations, sole traders and partnerships) that provide outsourcing of research services such as clinical trial data management, database design and build, data entry and validation, medicine and disease coding, project management, quality and metric reporting, safety and efficacy summaries, and statistical analysis plans and reports, on a contract basis. The consumption market for a particular geography includes the revenues generated by CROs (both domestic and foreign based companies) by selling CRO services to end users pharmaceutical and medical equipment companies in that geography irrespective of where the CRO services are produced or generated.
The CRO market is being driven by the biopharmaceutical industry’s improving fundamentals. Most biopharma companies, the CRO industry’s most important customers, are now at the tail end of multi-year patent cliffs and are stepping up investments in their late-stage pipelines. This is expected to drive modest growth in biopharma R&D expenditure in the foreseeable future. The global biologics (biopharmaceutical drugs) market is expected to grow to $428 billion by 2022 at an annual rate of about 13.5%. This rapid growth in the biologics market is expected to accelerate the development of biologics. Biopharmaceutical sponsors are expected to increase their outsourcing activities, supporting the growth of the CRO market.
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Some contract research organizations market trends include focusing on conducting clinical trials in emerging countries such as China, India and Brazil to reduce drug development costs. Apart from the cost factor, developing countries also prove to be the ideal place for CROs to conduct their clinical trials in order to expand capabilities and have a more diverse pool of patients. Moreover, contract research organizations are increasingly incorporating real world evidence in their clinical studies. Real world evidence (RWE) is the data collected from sources outside clinical trials, including the monitoring of social media, mobile and wearable health tracking devices and electronic medical records. These insights from patients can better help CROs tailor clinical protocols to apply to real world circumstances.
Global contract research organizations market segments include:
1) By Service Type: Drug Discovery, Preclinical Studies, Phase I, Phase II, Phase III, Phase IV, Other Services
2) By Therapeutic Area: Oncology, Cardiovascular Disease, CNS disorder, Infectious Disease, Metabolic Disease, Other Therapeutic Area
3) By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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The Contract Research Organizations Opportunities And Strategies: Forecast To 2022 is one of a series of new reports from The Business Research Company that provides contract research organizations market overviews, analyzes and forecasts market size, share, contract research organizations market players, contract research organizations market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The contract research organizations identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Players Covered: IQVIA, Laboratory Corporation Of America Holdings, Syneos Health, PRA Health Sciences, PPD
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Contract Research Organizations Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Contract Research Organizations Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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