Healthcare Contract Research Organization Market Worth to Outgrow by USD 62569.1 million By 2027
Posted On November 18, 2021
According to the research report by Value Market Research, the Global Healthcare Contract Research Organization Market is likely to grow to USD 62569.1 million by 2027 with a CAGR of 6.6% during the year 2021-2027. The increased government funding to create new pharmaceuticals around the world is a major factor influencing the healthcare contract research organisation industry. Furthermore, the increasing pressure on industry participants to meet rigorous deadlines has increased the demand for outsourcing research activities to contract research organisations (CROs), which will contribute to the market expansion of healthcare contract research organisations in the future years. In the projection term, governments and public-sector organisations that have made significant investments in biomedical research are expected to boost healthcare contract research organisations. However, long-term market growth may be hampered by CRO service quality difficulties. In addition, concerns with intellectual property rights have a negative impact on the market. Current industry trends, such as the favourable climate for clinical trials in developing countries and the widespread adoption of innovative trial designs, are projected to present key players with new profitable market opportunities.
A Contract Research Organization (CRO), sometimes known as a Clinical Research Organization (CRO), is a service organisation that delivers outsourced pharmaceutical research services to the pharmaceutical and biotechnology sectors (for both drugs and medical devices). CROs range in size from large, worldwide full-service firms to small, specialist specialty firms, and they can provide their clients with the experience of advancing a new medication or device from concept through FDA marketing clearance without the need for the drug sponsor to maintain a staff for these services.
"Global Healthcare Contract Research Organization Market Report By Type (Drug Discovery, Pre-Clinical, Clinical), By Service (Project Management/Clinical Supply Management, Data Management, Regulatory/Medical Affairs, Medical Writing, Clinical Monitoring, Quality Management/ Assurance, Bio-Statistics, Investigator Payments, Laboratory, Patient And Site Recruitment, Technology, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" is an elaborate report providing market data on the basis of segments and geography.
On the basis of type the market is segmented into Drug Discovery (Target Validation, Lead Identification, Lead Optimization), Pre-clinical, Clinical (Phase I Trial Services, Phase II Trial Services, Phase III Trial Services, Phase IV Trial Services). By service the XXX market is categorised as Project Management/Clinical Supply Management, Data Management, Regulatory/Medical Affairs, Medical Writing, Clinical Monitoring, Quality Management/ Assurance, Bio-statistics, Investigator Payments, Laboratory, Patient and Site Recruitment, Technology, Others. By geography the report is bifurcated into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. XXXX is the dominating region. The data tables in this section depict the market estimate by market segment.
The Report Segments Global Healthcare Contract Research Organization Market -
- Drug Discovery (Target Validation, Lead Identification, Lead Optimization)
- Clinical (Phase I Trial Services, Phase II Trial Services, Phase III Trial Services, Phase IV Trial Services)
- Project Management/Clinical Supply Management
- Data Management
- Regulatory/Medical Affairs
- Medical Writing
- Clinical Monitoring
- Quality Management/ Assurance
- Investigator Payments
- Patient and Site Recruitment
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Players Profiled In the Report:
ICON Plc, Syneos Health, Covance, Charles River Laboratories (CRL), IQVIA, Covance, PAREXEL International Corporation, Medidata Solutions, GVK Biosciences Private Limited, Pharmaceutical Product Development, LLC (PPD), and Pharmaron.
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