Global Contract Research Organization Market, By Service (Clinical Research Services, Early Phase Development Services, Laboratory Services, Consulting Services and Data Management Services), By Application (Oncology, Central Nervous System, Autoimmune/ Inflammation Diabetes, Cardiovascular, Others), By End User (Pharmaceutical and Biopharmaceutical Companies, Medical Device Companies, Academic Institutes and Others), By Region, Competition Forecast & Opportunities, 2026
New York, June 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Contract Research Organization Market, By Service, By Application, By End User, By Region, Competition Forecast & Opportunities, 2026" - https://www.reportlinker.com/p06089436/?utm_source=GNW
Global contract research organization market was valued at USD61.13 billion in 2020 and is expected to reach USD99.65 billion in 2026 by registering a CAGR of 8.36%. The market is anticipated to grow on account of growing healthcare industry and various research and developments that are being carried out. With variant terminal diseases, and new diseases being diagnosed, welfare of the human population is heavily dependent on the growth of healthcare industry. Government aids the research and development for the manufacturing of biopharmaceuticals, which is positively influencing the growth of contract research organization (CRO) market in the next five years. Also, high cost of in-house drug development is also making headway for the growth. Contract research organizations are research based companies that aid the pharmaceuticals and biotechnology industries to perform their research and conduct the clinical trials. Moreover, these organizations also serve government institutions, foundations, and universities in their research purposes. The market may face challenges from the high cost labor, and difficult transportation of the products and services to the developing economies.
Global contract research organization market is segmented by service, application, end user, company and regional distribution.Based on service, the market is further fragmented into clinical research services, early phase development services, laboratory services, consulting services and data management services.
Clinical research services dominated the market in 2020 and are further anticipated to maintain dominance in the market over the forecast period as well owing to the fact that, number of clinical trials are increasing. Moreover, clinical research becomes cost effective, and brings technical expertise in the research because of CROs, thereby enhancing the effectiveness and supporting the growth of the market in the recent future.
Some of the major competitors in the market are ???N Pl?, Pharmaceutical Product Development, Inc., ?QV?? ??ld?ng? ?n?., Covance Inc., Syneos Health Inc., PRA Health Sciences, Inc., Medpace Holdings, Inc., WuXi Apptec Co. Ltd, Charles River Laboratories International Inc., Parexel International Corporation, Envigo RMS LLC, SGS S.A, Omnicare Inc., Onyx Scientific Limited, Pierrel Research International AG, among others. The companies are focusing on extensive research and developments activities to stay competitive in the market. Other competitive strategies include formation of alliances and partnerships.
Years considered for this report:
Historical Years: 2016 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2026
Objective of the Study:
• To analyze the historical growth in the market size of global contract research organization market from 2016 to 2020.
• To estimate and forecast the market size of global contract research organization market from 2021 to 2026 and growth rate until 2026.
• To classify and forecast global contract research organization market based on service, application, end user, and regional distribution.
• To identify dominant region or segment in the global contract research organization market.
• To identify drivers and challenges for global contract research organization market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global contract research organization market.
• To identify and analyze the profile of leading players operating in global contract research organization market.
• To identify key sustainable strategies adopted by market players in global contract research organization market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of service providers across the country.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the service providers which could not be identified due to the limitations of secondary research. The analyst examined the service providers, and presence of all major players across the country.
The analyst calculated the market size of global contract research organization market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Service providers, end users, and other stakeholders
• Distributers and suppliers of contract research organization products and other stakeholders
• Organizations, forums, and alliances related to contract research organization
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as vendors, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global contract research organization market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
• Global Contract Research Organization Market, By Service:
o Clinical Research Services
o Early Phase Development Services
o Laboratory Services
o Consulting Services
o Data Management Services
• Global Contract Research Organization Market, By Application:
o Central Nervous System
• Global Contract Research Organization Market, By End User:
o Pharmaceutical and Biopharmaceutical Companies
o Medical Device Companies
o Academic Institutes
• Global Contract Research Organization Market, By Region:
o North America
o South America
o Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in global contract research organization market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06089436/?utm_source=GNW
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