Global CRO Market Research Report 2021-2028 - Intensive Research Collaborations Worldwide Amid COVID-19 is Driving Growth
DUBLIN, Dec. 31, 2021 /PRNewswire/ -- The "Contract Research Organization Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type and End User" report has been added to ResearchAndMarkets.com's offering.
The global contract research organization (CRO) market is expected to reach US$ 88,835.19 million in 2028 from US$ 50,093.56 million in 2021; it is expected to grow at a CAGR of 8.5% from 2021 to 2028.
The growth of the market is primarily attributed to the surge in R&D expenditures and outsourcing activities, and rise in the number of clinical trials. Moreover, increasing demand for specialized testing services is expected to foster market growth during the forecast period. However, the dearth of skilled professionals hinders the market growth.
Healthcare service providers have been focusing adapting to the challenging transformations triggered by the COVID-19 pandemic. European countries such as Italy and Spain have registered the maximum number of deaths due to COVID-19. Clinical research plays a crucial role in developing diagnostics and medicines to fight the ongoing COVID-19 pandemic through rapid and accurate clinical trials, as well as in collecting robust and reliable outcomes in a variety of settings on a large scale. Intensive global research collaborations among stakeholders and industries involving all countries are driving the market growth.
Based on type, the contract research organization (CRO) market is segmented into early phase services, clinical research services, laboratory services, and post-approval services. The early phase services segment further bifurcated into drug discovery services and preclinical services. The clinical research services segment is the largest shareholder in the market and is expected to register the highest CAGR during the forecast period.
By end user, the contract research organization (CRO) market is segmented into pharmaceutical and biotechnology companies, and medical devices companies. The pharmaceutical and biotechnology companies segment holds a larger share in the market and is estimated to register a higher CAGR during 2021-2028.
Key Topics Covered
1. Introduction
1.1 Scope of the Study
1.2 Research Report Guidance
1.3 Market Segmentation
2. Contract Research Organization (CRO) Market - Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Global Contract Research Organization (CRO) Market - Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America - PEST Analysis
4.2.2 Europe - PEST Analysis
4.2.3 Asia Pacific - PEST Analysis
4.2.4 Middle East and Africa (MEA) - PEST Analysis
4.2.5 South and Central America (SCAM) - PEST Analysis
4.3 Expert Opinions
5. Contract Research Organization (CRO) Market - Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Increasing R&D Expenditures and Outsourcing Activities
5.1.2 Rise in The Number of Clinical Trials
5.2 Key Market challenges
5.2.1 Dearth of Skilled Professionals
5.3 Key Market Opportunities
5.3.1 Growing Biosimilars and Biologics Market
5.3.2 Increasing Demand for Specialized Testing Services
5.4 Future Trends
5.4.1 Increasing Market Consolidation
5.5 Impact analysis
6. Contract Research Organization (CRO) Market - Global Analysis
6.1 Global Contract Research Organization (CRO) Market Revenue Forecast and Analysis
6.2 Global Contract Research Organization (CRO) Market, By Geography - Forecast and Analysis
6.3 Market Positioning of Key Players
7. Contract Research Organization (CRO) Market Analysis - By Type
7.1 Overview
7.2 Contract Research Organization (CRO) Market Revenue Share, By Type (2021 and 2028)
7.3 Early Phase Development Services
7.4 Clinical Research Services
7.5 Laboratory Services
7.6 Post-Approval Services
8. Contract Research Organization (CRO) Market Analysis - By End User
8.1 Overview
8.2 Contract Research Organization (CRO) Market Revenue Share, By End User (2021 and 2028)
8.3 Pharmaceutical and Biotechnology Companies
8.4 Medical Device Companies
9. Global Contract Research Organization (CRO) Market - Geographic Analysis
9.1 North America: Contract Research Organization (CRO) Market
9.2 Europe: Contract Research Organization (CRO) Market
9.3 Asia Pacific: Contract Research Organization (CRO) Market
9.4 Middle East & Africa: Contract Research Organization (CRO) Market
9.5 South and Central America: Contract Research Organization (CRO) Market
10. Impact of the COVID-19 Pandemic on the Contract Research Organization (CRO) Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
10.2 Europe: Impact Assessment of COVID-19 Pandemic
10.3 Asia Pacific: Impact Assessment of COVID-19 Pandemic
10.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
10.5 South & Central America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Growth Strategies Done by the Companies in the Market, (%)
11.3 Organic Developments
11.4 Inorganic Developments
12. Company Profiles
12.1 Charles River Laboratories, Inc.
12.2 IQVIA Inc.
12.3 Laboratory Corporation of America Holdings
12.4 Parexel International Corporation
12.5 ICON PLC
12.6 Novotech
12.7 Syneos Health
12.8 Medpace
12.9 WuXi AppTec
12.10 PPD Inc.
For more information about this report visit https://www.researchandmarkets.com/r/4ofxz1
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