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According to the current analysis of Reports and Data, the global Contract Research Outsourcing market was valued at USD 38.18 Billion in 2018 and is expected to reach USD 68.14 Billion by the year 2026, at a CAGR of 7.4 %. The study covers Contract Research Outsourcing – An organization that offers comprehensive services to biotechnology, pharmaceutical, and medical devices industries. Contract Research Outsourcing offers a wide range of support services like project management, clinical trial data management, database design & build, preclinical research, biopharmaceutical development, data entry & validation, biologic assay development, medicine and disease coding, safety and efficacy summaries, and others.This is the latest report covering the current COVID-19 scenario. The coronavirus pandemic has greatly affected every aspect of the worldwide industry. It has brought along various changes in market conditions. The rapidly changing market scenario and initial and future assessment of the impact are covered in the research report. The report discusses all the major aspects of the market with expert opinions on the current status along with historical data.
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Key players mentioned in the research report are:
Charles River Laboratories, Parexel International, IQVIA, Covance, PRA Health Sciences, LabCorp, Pharmaceutical Product Development (PPD), Clinitec, ICON plc, Medidata Solutions, and EPS International.
In terms of End Use, the global Contract Research Outsourcing market can be segmented into:
Pharmaceutical and Biopharmaceutical Companies
Medical Device Companies
Academic Institutes
Others
In terms of types, the global Contract Research Outsourcing market can be segmented into:
Physical Characterization
Toxicology Testing
Stability Testing
Raw Material Testing
Other Analytical Testing
Consulting Services
The Contract Research Outsourcing Market is analyzed on the basis of dynamics of demand and supply, pricing, total volume produced, revenue generated, and others. The manufacturing is studied on the basis of several factors such as manufacturing plant distribution, industry production, production capacity, and research and development. It also delivers accurate market evaluations with the use of SWOT analysis, investment analysis, returns analysis, and growth trend analysis, and others.
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For geographical segmentation, regional supply, application-wise, and type-wise demand, key players, and others, this report covers the following regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The report sheds light on the competitive landscape of the market that covers the product offerings, services, market shares, and business overview. This Contract Research Outsourcing Market research report covers various dynamic aspects like the market drivers, restraints and challenges, and growth prospects. The prominent and leading companies are profiled in the report.
Further key findings from the report suggest
• Contract Research Outsourcing market is growing at a CAGR of 8 % in Asia Pacific followed by North America and Europe, with 7.23 % and 7.21 % CAGR, respectively. Rising demand and increased number of clinical trial all over the globe is the prominent factor to accelerate the market growth during the forecast period across all regions.
• As of 2018, Early Phase Development Service is the dominating Contract Research Outsourcing market which holds 30.2 % of the global market. North America regional market is the chief revenue generating source for this product segment, followed by Europe and Asia-Pacific regions
• Consulting Services is expected to be the Second fastest growing market segment during forecast period 2019-2026 with a CAGR of 7.4 %. However, associated competitive structure of the market and lack of skilled professionals are major challenge for the market growth of this market segment
• Oncology therapeutic area type segment is expected to continue dominating the Contract research Outsourcing market, It was valued at USD 13.35 billion in 2018 and is expected reach USD 24.4 billion by 2026, expanding at a CAGR of 7.8 %.
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