-- “The Contract Research Organization (CRO) services market is projected to grow at a CAGR of 7.6% between 2018 and 2023.”
The CRO services market is expected to reach USD56.34 billion by 2023 from USD 39.13 billion in 2018, at a CAGR of 7.6%. Increased outsourcing of R&D activities and increasing number of clinical trials are some of the major factors driving the growth of this market. However, intense competition in the CRO services market is one of the major challenges for the players operating in the CRO services market.
Browse 220 market data Tables and 46 Figures spread through 260 Pages and in-depth TOC on "Contract Research Organization Services (CROs) Market by Type (Discovery, CMC, Preclinical, Clinical Research, Laboratory Services), Therapeutic Area (Oncology, CNS, Cardiovascular), End User (Pharmaceuticals & Medical Device) - Global Forecast to 2023" http://www.reportsnreports.com/reports/729432-contract-research-organizations-cros-services-market-by-type-preclinical-clinical-research-laboratory-therapeutic-area-oncology-cns-cardiovascular-end-user-pharmaceutical-biopharmaceutical-medical-de-st-to-2021.html
“Laboratory services segment to witness the highest growth rate during the forecast period.”
Among the CRO services, the laboratory services segment is expected to register the highest CAGR during the forecast period. The high growth of this segment is attributed to the increasing number of pipeline drugs and growing outsourcing of laboratory services by pharmaceutical and bio-pharmaceutical companies.
“Oncology segment to grow at the highest CAGR from 2018 to 2023.”
Oncology segment is expected to register the highest CAGR during the forecast period. The increasing number of clinical trials and rising prevalence of cancer world wide are the major factors supporting its growth during the forecast period.
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“APAC to witness the highest growth rate during the forecast period.”
The Asia Pacific region is expected to witness the highest CAGR during the forecast period, owing the rapid growth in the pharmaceutical and biopharmaceutical industry, low cost of clinical trials, rising number of CROs, and favorable government policies in the region.
Break of primary participants:
By Company Type – Tier 1: 21%, Tier 2–26%, and Tier 3–53%
By Designation – C Level: 32%, Director Level: 26%, and Others: 42%
By Region – North America: 26%, Europe: 35%, Asia Pacific: 20%, Latin America: 11%, and the Middle East & Africa: 8%
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Research Coverage:
The report analyzes the various CRO services and their adoption patterns in the market. It aims at estimating the market size and future growth potential of the global CRO services market for different segments such as type, therapeutic area, end user, and region. The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, service offerings, recent developments, and key market strategies.
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help garner a greater share. Firms purchasing the report could use any one or combination of the below-mentioned strategies for strengthening their market positions.
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The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the service portfolios offered by the top players in the CRO services market
Service Launch/Innovation: Detailed insights on new service launches in the CRO services market
Market Development: Comprehensive information about lucrative emerging markets, by type, therapeutic area, end user, and region
Market Diversification: Exhaustive information about new services, growing geographies, recent developments in the CRO services market
Competitive Assessment: In-depth assessment of growth strategies, services, and manufacturing capabilities of leading players in the CRO services market.
Contact Info:
Name: Hrishikesh Patwardhan
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Release ID: 297734
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