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Global Medical Device and Diagnostics Contract Research Organization Market to 2028 - Low Business Cost in Emerging Markets Presents Opportunities

·10-min read

Dublin, Sept. 06, 2021 (GLOBE NEWSWIRE) -- The "Medical Device and Diagnostics Contract Research Organization Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type and Services and Geography" report has been added to ResearchAndMarkets.com's offering.

According to this report the market is expected to reach US$ 20,336.08 million in 2028 from US$ 12,314.65 million in 2021. The market is estimated to grow with a CAGR of 7.4% from 2021 to 2028. Key factors driving the market such as increasing number of clinical trials worldwide and the rise in the adoption of outsourcing activities coupled with increasing R&D expenditures. However, the extensive competition in the CRO services market is a major factor hindering the market growth.

Based on services, the medical device and diagnostics contract research organization market is segmented into clinical data management, monitoring, clinical project management, medical writing, clinical auditing, digital health, clinical strategy, and others. The clinical data management segment held the largest share of the market in 2021. However, the digital health segment is estimated to register the highest CAGR in the market during the forecast period.

The CRO services industry is highly fragmented, with several hundred small and medium-sized limited-service providers, and a small number of large and full-service global CROs. There are a few barriers for smaller CROs to enter the global market. However, the full-service global CROs require efficient infrastructure with an ability to simultaneously manage multiple complex testing services across numerous geographies, establish the requisite relationships with strategic partners, and develop relevant therapeutic and expertise to meet the needs of end users. Over the past few years, the consolidation across the industry is an emerging trend followed by most of the prime players to strengthen their service offerings and garner the major market share in the global medical device & diagnostics contract research organization market. For instance, PAREXEL International Corp. acquired The Medical Affairs Company in 2017.

COVID-19 outbreak was first observed in December 2019 in Wuhan (China), and it has spread to more than 100 countries across the world, with the World Health Organization (WHO) stating it as a public health emergency. The contract-based research and manufacturing activities for all the non-essential medical devices were hampered due to strict imposition of company shutdowns in the region. Industries, however, need to adopt long-term, permanent solutions to challenges that arose due to COVID. Overall, the COVID-19 created a negative impact on the growth of medical devices and diagnostics contract research organization market.

PAREXEL International Corporation; ICON PLC; WUXI APPTEC; Charles River Laboratories; Laboratory Corporation of America Holdings; North American Science Associates, Inc.; Qserve Group B.V.; IQVIA; Proxima Clinical Research, Inc.; and Activa CRO are among the leading companies operating in the medical device and diagnostics contract research organization market.

Reasons to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the medical devices and diagnostics contract research organization market.

  • Highlights key business priorities in order to assist companies to realign their business strategies.

  • The key findings and recommendations highlight crucial progressive industry trends in the global medical devices and diagnostics contract research organization market, thereby allowing players across the value chain to develop effective long-term strategies.

  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

Key Topics Covered:

1. Introduction

2. Medical Device and Diagnostics Contract Research Organization Market - Key Takeaways

3. Research Methodology

4. Medical Device and Diagnostics Contract Research Organization 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 - PEST Analysis
4.2.5 South and Central America
4.3 Experts Opinion

5. Medical Device & Diagnostics Contract Research Organization Market- Key Market Dynamics
5.1 Drivers
5.1.1 Increasing Number of Clinical Trials Worldwide
5.1.2 Rising Adoption of Outsourcing Activities Coupled with Increasing R&D Expenditures
5.2 Market Restraints
5.2.1 Extensive Competition in CRO Services Market
5.3 Market Opportunities
5.3.1 Low Business Cost in Emerging Markets
5.4 Future Trends
5.4.1 Rising Market Consolidation
5.5 Impact Analysis

6. Medical Device and Diagnostics Contract Research Organization Market - Global Analysis
6.1 Global Medical Device and Diagnostics Contract Research Organization Market Revenue Forecast and Analysis
6.2 Global Medical Device and Diagnostics Contract Research Organization Market, by Geography - Forecast and Analysis
6.3 Market Positioning of Key Players
6.4 Company Market Share Analysis

7. Medical Device and Diagnostics Contract Research Organization Market Analysis - By Type
7.1 Overview
7.2 Medical Device and Diagnostics Contract Research Organization Market Share, by Type, 2020 and 2028 (%)
7.3 Medical Devices
7.3.1 Overview
7.3.2 Medical Devices: Medical Device and Diagnostics Contract Research Organization Market- Revenue and Forecast to 2028 (US$ Million)
7.4 Diagnostics
7.4.1 Overview
7.4.2 Diagnostics: Medical Device and Diagnostics Contract Research Organization Market- Revenue and Forecast to 2028 (US$ Million)
7.4.2.1 Cardiac Biomarkers
7.4.2.1.1 Overview
7.4.2.1.2 Cardiac Biomarkers: Medical Device and Diagnostics Contract Research Organization Market- Revenue and Forecast to 2028 (US$ Million)
7.4.2.2 Diabetes Management
7.4.2.2.1 Overview
7.4.2.2.2 Diabetes Management: Medical Device and Diagnostics Contract Research Organization Market- Revenue and Forecast to 2028 (US$ Million)
7.4.2.3 Oncology
7.4.2.3.1 Overview
7.4.2.3.2 Oncology: Medical Device and Diagnostics Contract Research Organization Market- Revenue and Forecast to 2028 (US$ Million)
7.4.2.4 Infectious Diseases
7.4.2.4.1 Overview
7.4.2.4.2 Infectious Diseases: Medical Device and Diagnostics Contract Research Organization Market- Revenue and Forecast to 2028 (US$ Million)
7.4.2.5 Haematology
7.4.2.5.1 Overview
7.4.2.5.2 Haematology: Medical Device and Diagnostics Contract Research Organization Market- Revenue and Forecast to 2028 (US$ Million)
7.4.2.6 Chemistry and Immunoassays
7.4.2.6.1 Overview
7.4.2.6.2 Chemistry and Immunoassays: Medical Device and Diagnostics Contract Research Organization Market- Revenue and Forecast to 2028 (US$ Million)
7.4.2.7 Molecular Diagnostics
7.4.2.7.1 Overview
7.4.2.7.2 Molecular Diagnostics: Medical Device and Diagnostics Contract Research Organization Market- Revenue and Forecast to 2028 (US$ Million)
7.4.2.8 Others
7.4.2.8.1 Overview
7.4.2.8.2 Others: Medical Device and Diagnostics Contract Research Organization Market- Revenue and Forecast to 2028 (US$ Million)

8. Medical Device and Diagnostics Contract Research Organization Market - By Services
8.1 Overview
8.2 Medical Device and Diagnostics Contract Research Organization Market Share, by Services, 2020 and 2028 (%)
8.3 Clinical Data Management
8.3.1 Overview
8.3.2 Clinical Data Management: Medical Device and Diagnostics Contract Research Organization Market- Revenue and Forecast to 2028 (US$ Million)
8.4 Monitoring
8.4.1 Overview
8.4.2 Monitoring: Medical Device and Diagnostics Contract Research Organization Market- Revenue and Forecast to 2028 (US$ Million)
8.5 Clinical Project Management
8.5.1 Overview
8.5.2 Clinical Project Management: Medical Device and Diagnostics Contract Research Organization Market- Revenue and Forecast to 2028 (US$ Million)
8.6 Medical Writing
8.6.1 Overview
8.6.2 Medical Writing: Medical Device and Diagnostics Contract Research Organization Market- Revenue and Forecast to 2028 (US$ Million)
8.7 Clinical Auditing
8.7.1 Overview
8.7.2 Clinical Auditing: Medical Device and Diagnostics Contract Research Organization Market- Revenue and Forecast to 2028 (US$ Million)
8.8 Digital Health
8.8.1 Overview
8.8.2 Digital Health: Medical Device and Diagnostics Contract Research Organization Market- Revenue and Forecast to 2028 (US$ Million)
8.9 Clinical Strategy
8.9.1 Overview
8.9.2 Clinical Strategy: Medical Device and Diagnostics Contract Research Organization Market- Revenue and Forecast to 2028 (US$ Million)
8.10 Others
8.10.1 Overview
8.10.2 Others: Medical Device and Diagnostics Contract Research Organization Market- Revenue and Forecast to 2028 (US$ Million)

9. Medical Devices and Diagnostics Contract Research Organization Market - Geographic Analysis

10. Impact of COVID-19 Pandemic on Global Medical Devices and Diagnostics Contract Research Organization 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 and Central America: Impact Assessment of COVID-19 Pandemic

11. Medical Devices and Diagnostics Contract Research Organization Market- Industry Landscape
11.1 Overview
11.2 Key Developments Done by Companies

12. Company Profiles
12.1 PAREXEL INTERNATIONAL CORPORATION
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 ICON PLC
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 WuXi AppTec
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 CHARLES RIVER LABORATORIES, INC.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Laboratory Corporation of America Holdings
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 North American Science Associates, Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Qserve
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Activa CRO
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Proxima Clinical Research, Inc.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 IQVIA Inc.
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments

13. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/he4ght

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