Dublin, Sept. 01, 2020 (GLOBE NEWSWIRE) -- The "The Overview of Japanese CRO Market ver. 2020" report has been added to ResearchAndMarkets.com's offering.
This report talks about the overview of CRO market in Japan. By reading this report, readers will understand the overall picture about Japanese CRO market, including the market size trend, major CRO players, and even competitive difference between local and global CROs.
The size of the Japanese CRO market in 2019 was 195 billion. 89% of the total market is for pharmaceutical drugs, and followed by medical devices with 2.6% in 2019. Compared to 2018, pharmaceutical products decreased by 0.6%, and medical devices increased by 26.6%. When the market is broken down by functional services, monitoring accounted for 55% of the total market and followed by data management with 16%.
Phase I, II, III occupies 58%, followed by post-marketing surveillance (PMS) with 11%.
There are approximately 50 companies in the CRO market. Top 6 CROs in Japan, CMIC, EPS, IQVIA, Parexel, A2, and M3, dominate the market and their shares have been growing over time.
Japanese pharma companies used to develop, manufacture and sell drugs inhouse. However, new drug companies have been strengthening rationalization, by cutting jobs, and by outsourcing functions to outside. The outsourcing functions such as manufacturing, sales and R&D have been common in any pharma in Japan.
Clinical trials have been shifting from local to multinational clinical trials over the years, and the ratio of global studies reached 51% in 2018.
In order to conduct international studies, a CRO is required to have regional reach and capability in each country. While major global CROs are qualified for this, none of Japanese CROs meet this requirement. As a result, pharma companies automatically choose global CROs as their primary partners.
In recent years, pharmaceutical firms have become more leaning to full service providers, minimizing the number of CROs to deal with, under the name of preferred partnership. Some firms are moving to the further level, strategic partnership, where pharma and specific CROs have the exclusive agreement.
CROs will play a key role in clinical trial space, and especially major CROs will have the power to choose their clients. We will see more competition in the Japanese CRO market, for CROs to compete on small pies. Global CROs will increase the presence due to the wider capability and global reach. Small and mid-sized Japanese CROs will be forced to seek M&A.
Key Topics Covered
2. Definition of CRO Market
3. Clinical Trials in Japan
4. CRO Market Size
- CRO Market Breakdown by Service
- CRO Market Breakdown by Phase
5. Key Industry Association
6. Major CRO Companies
- Top 6 CROs
- EPS Holdings, Inc.
- IQVIA Services Japan (former Quintiles Japan)
- A2 Healthcare
- M3 Group
- Other Players from Global
- Syneos Health Clinical (former INC Research and inVentiv)
7. Increasing Outsourcing in Pharma
- Shift to Multinational Clinical Trials
- Challenges When Conducting Clinical Trials in Japan
- Ceiling Domestic Market
- Contrast of Japanese and Foreign CROs
- Strategic Partnership Model
8. Future Outlook
For more information about this report visit https://www.researchandmarkets.com/r/kibsnl
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