Contract Research Organization Market Size, share, Analysis and Regional Forecast to 2023

Contract Research Organization Market Benefits from New Product Launches

Market Summary

Market Research Future (MRFR) reveals that the global Contract Research Organization Market could grow at a rate of 11.48% during the forecast period (2014-2023).

Market Boosters and Key Restraints

The demand for contract research organization (CROs) services has taken a leap since the time healthcare institutions unlocked the host of benefits it offers in business operations. With the mounting product demand, investors have sensed the growth potential in the CRO market. The hike in the number of investors giving efforts in this field contributes significantly to the development of the worldwide CRO market.

Other than the non-profit organizations, the market is increasingly observing newer CRO launches from renowned vendors across the globe. To illustrate, in April 2019, FHI 360 had launched a new CRO service called FHI Clinical. This service helps the companies that are part of the hard-to-reach industry by focusing on resource-limited settings. MRFR predicts that these kinds of CRO launches could help the global contract research organizations market to have an emphatic growth in the ensuing years.

Rising mergers and acquisitions that strive to develop existing CROs and establish new CROs also works in favor of the market. The market is also anticipated to benefit from the latest spike in the number of company agreements and collaborations. For instance, in 2018, Cereno Scientific had collaborated with CRO ‘OCT’, with the aim of conducting phase 2 clinical trials to study Cereno’s newest drug called ‘CS1’. It is reported that Cereno’s latest partnership could disrupt the dynamics of the overall market.

Market Segmentation

The global market for contract research organization has been segmented on the basis of segment, clinical trial phase, and end-users.

Segment-wise, the market is segmented drug discovery, clinical development, post-marketing services, and others.

Depending on the clinical trial, the market can be considered for preclinical trials, phase I, phase II, phase III, phase IV, and others.

The various end-users are narrowed down into pharmaceutical/ biotechnology companies, medical devices companies, academic institutes, and others.

List Of Table

TABLE 1 GLOBAL CONTRACT RESEARCH ORGANIZATION MARKET, BY SEGMENT, 2014-2023 (USD MILLION)

TABLE 2 GLOBAL CONTRACT RESEARCH ORGANIZATION (CRO) MARKET FOR DRUG DISCOVERY, BY REGION, 2014-2023 (USD MILLION)

TABLE 3 GLOBAL CONTRACT RESEARCH ORGANIZATION (CRO) MARKET FOR CLINICAL DEVELOPMENT, BY REGION, 2014-2023 (USD MILLION)

TABLE 4 GLOBAL CONTRACT RESEARCH ORGANIZATION (CRO) MARKET FOR POST MARKETING SERVICES, BY REGION, 2014-2023 (USD MILLION)

TABLE 5 GLOBAL CONTRACT RESEARCH ORGANIZATION (CRO) MARKET, BY CLINICAL TRIAL PHASE, 2014-2023 (USD MILLION)

TABLE 6 GLOBAL CONTRACT RESEARCH ORGANIZATION (CRO) MARKET FOR PRECLINICAL TRIAL, BY REGION, 2014-2023 (USD MILLION)

TABLE 7 GLOBAL CONTRACT RESEARCH ORGANIZATION (CRO) MARKET FOR PHASE I CLINICAL TRIAL, BY REGION, 2014-2023 (USD MILLION)

TABLE 8 GLOBAL CONTRACT RESEARCH ORGANIZATION (CRO) MARKET FOR PHASE II CLINICAL TRIAL, BY REGION, 2014-2023 (USD MILLION)

TABLE 9 GLOBAL CONTRACT RESEARCH ORGANIZATION (CRO) MARKET FOR PHASE III CLINICAL TRIAL, BY REGION, 2014-2023 (USD MILLION)

TABLE 10 GLOBAL CONTRACT RESEARCH ORGANIZATION MARKET FOR PHASE IV CLINICAL TRIAL, BY REGION, 2014-2023 (USD MILLION)

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