Global Contract Research Organization Market to be at Forefront by 2023

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Market Research Future adds new report of “Global Contract Research Organization Market Research Report ” it contains Company information, geographical data and Table of Content

 Key players of Global Contract Research Organization (CRO) Market:

  • Laboratory Corporation of America Holdings
  • QuintilesIMS
  • PAREXEL International Corporation
  • Pharmaceutical Product Development LLC
  • INC Research LLC
  • PRA Health Sciences, Inc.
  • ICON plc

Segments:

  • The global contract research organization (CRO) market is segmented on the basis of segment.
  • Based on the segment, the market has been segmented as drug discovery, clinical development, and post marketing services.
  • Based on the clinical trial phase, the market has been segmented as preclinical trials, Phase I, Phases II, Phases III and Phase IV.
  • Based on the End User, the market has been segmented as Pharmaceutical/ biotechnology Companies, Medical devices Companies, and Academic Institutes.

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Study objectives:

  • To provide detail analysis of the market structure along with estimated future growth forecast for the next 6 years about various segments and sub-segments of the global contract research organization (CRO) market.
  • To provide insights about factors affecting the market growth.
  • To analyze the global contract research organization (CRO) market based on various factors – price analysis, supply chain analysis, Porters Five Force Analysis etc.
  • To provide past and estimated future revenue of the market’s segments and sub-segments with respect to four main geographies and their countries – Americas, Europe, Asia-Pacific along with Middle East & Africa.
  • To provide country level analysis of the market with respect to the current market size and future growth prospect.
  • To provide country level analysis of the market’s segments which includes by segment, clinical trial phase, and by end user.
  • To provide overview of key players and their strategic profiling in the market, comprehensively analyzing their core competencies and drawing a competitive landscape of the market.
  • To track and analyze developments which are competitive in nature such as joint ventures, strategic alliances, mergers and acquisitions, new disease developments along with research and developments currently taking place in the global Contract research organization (CRO) market.

Intended Audience

  • Global Contract research organization (CRO) solutions providers, manufacturers & suppliers
  • Research and development (R&D) companies
  • Market research and consulting service providers
  • Academic institutes and universities

Market Synopsis of Global Contract Research Organization (CRO) Market:

Market Scenario:

Contract research organizations undertake research on a contract basis from their client. The rights to the work are owned ultimately by the clients who may not have the technical capabilities and capacities to perform the task on their own.

The critical market driving factor for the global contract research organization (CRO) are the economics of production and scale. Contract research requires high initial investment and needs a small but highly skilled labour force. The research and development density of the industry is extremely high and the work involves high expertise in a niche field. Thus cost of production or operation of such products and services is not only time and research intensive but involves a diversion of main business of the client. Gaining such expertise in a small time is not possible and uneconomical. The contract research organization is in a position to bundle orders from many clients and thus achieve economies of scale which brings down the price. The reduced costs of manufacturing or service then can be transferred to the final client, thereby giving the benefit of cost efficiency. The client is then free to use his own resources in business where it has an absolute cost advantage. Other market driving factors are focus on core competencies, ease of management and lean size thus increasing efficiency.

The market restraints are high cost of labour and the structural changes in industry and employment such as changing structure of the pharmaceutical and the biotechnological industry which has reduced the lifetime of technology and skills. Exchange rate volatility, complexity in the supply chain and flight of contract research to developing regions with poor infrastructure are other market restraints which has to be taken note of.

Considering all these factors the market for contract research organization (CRO) is expected to reach $ 76,457.4 million by the end of 2023, this market is projected to growing at a CAGR of 11.48% during 2017-2023.

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 Regional analysis

US accounts for the maximum market share due to favorable reimbursement scenario and greater expenditure on healthcare. Europe is the second largest market due to large disposable income and rising awareness. Asia pacific region will be the fastest region because of large unmet needs which will be led by China and India. The Middle East and Africa market will be led by the gulf nations particularly Saudi Arabia and UAE. The poor regions of Africa is expected to be a laggard due to poor economic and political conditions.

The report for Global Contract research organization (CRO) Market by Market Research Future comprises of extensive primary research along with the detail analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of current market scenario which includes past and estimated future market size with respect to value and volume, technological advancement, macro economical and governing factors in the market. The report provides detail information about and strategies used by top key players in the industry. The report also gives a broad study of the different market segments and regions.

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