The global contract research organization (CRO) services market size is slated to hit USD 90,926.3 million by 2026, displaying a CAGR of 11.4% during the forecast period. Rising number of clinical trials across the globe will be the primary force propelling this market in the forthcoming years. Contract research services are provided by organizations that specialize in providing outsourced clinical research services to biotechnology, medical devices, and pharmaceutical companies. The demand for CRO services is on the rise owing to the increasing number of clinical trials worldwide. According to the World Health Organization (WHO), the number of clinical trials registered on its International Clinical Trials Registry Platform (ICTRP) from Europe, Western Pacific, and the Americas were higher than most other regions in 2018. In Western Pacific, for instance, the registered trials were numbered at 14,655, while in Africa they were only 630. Japan and China have seen a meteoric rise in number of trial registrations since 2015, the WHO notes. Thus, steady rise in the number of clinical trials, especially in Asia-Pacific, is touted to be one of the major CRO services market trends in the near future.
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Key Players Operating in The Contract Research Organization Services Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Pharmaceutical Product Development, LLC.
- PRA Health Sciences
- ICON plc
- KCR S.A.
- Parexel International Corporation.
- Other prominent players
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Mergers & Acquisitions Among Key Players
- The Regulatory Scenario in Key Countries/Region
- Competition Matrix for the Services Provided by Key Players.
- Global Contract Research Organization Services Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Service Type
- Laboratory Services
- Market Analysis, Insights and Forecast – By Application
- Infectious Disease
- Metabolic Disorders
- Market Analysis, Insights and Forecast – By End User
- Pharmaceutical & Biotechnological Companies
- Medical Device Companies
- Academic & Research Institutes
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia pacific
- Rest of the World