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Contract Research Organizations Services Market by Type, Therapeutic Area, End User - Global Forecast to 2021

Contract Research Organizations Services Market: Global Forecast until 2021

  • October 2016
  • 269 pages
  • ID: 4263040
In this report:
Generics currently account for around ##% of the domestic pharmaceutical market, by value; this is expected to rise to ##% by 2020.
Despite a decrease in the country's GDP between 2008 and 2013, its pharmaceutical production and productivity rate rose by ##% and ##% per year, respectively.
The medical device companies segment is expected to witness the highest growth of ##.##% from 2016-2021, to reach USD ##,##.## million by 2021

Summary

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The overall CRO services market is forecasted to grow at a compound annual growth rate (CAGR) of 7.40 percent from 2016 to 2021, to attain ~$41.9B by 2021 from ~$29.3B in 2016. Increase in this industry is primarily attributed to increasing R&D expenditure, rised outsourcing of R&D activities, increasing demand for outsourcing analytical testing and clinical trial services, and rise in the number of clinical trials. On the other hand, growing regulatory pressure on CROs can hinder their market increase to a certain extent.

In this industry report, the overall CRO services market is split on the basis of services, therapeutic area, end-user, and area. On the basis of services, the sector is divided into early-phase development services, clinical research services, laboratory services, and consulting services. The clinical research services recorded for the biggest share of the CROs market in 2015, owing to increasing number of biosimilars and biologics by pharmaceutical and biopharmaceutical firms, growth in Research&development activities, and increasing number of clinical trials.

On the basis of therapeutic area, the oncology segment recorded for the most important share of the CRO services market. The rising number of clinical trials conducted for oncology and growing prevalence of cancer worldwide are main market drivers for this industry segment. In 2015, pharmaceutical and biopharmaceutical firms recorded for the biggest share of overall CRO services market, by final user. The robust pipeline of pharmaceutical and biopharmaceutical firms; increasing R&D expenditure; and growing outsourcing of early-phase development services, clinical research, and laboratory testing services by pharmaceutical and biopharmaceutical firms to boost profit margins, avoid high capital expenditure, and reduce the time of drug development are forecast to steer the CRO services market for pharmaceutical and biopharmaceutical firms.

Geographically, the overall CRO services market is divided into north america, Europe (EU), Asia-Pac, and the Rest of the globe. In 2015, North America continent commanded a main share of the overall CRO services market. Elements such as high quality standards in the pharmaceutical market, fast growth in the biosimilars and biologics market, increasing demand for outsourcing of services by pharmaceutical and biopharmaceutical firms, and rise in clinical trial activities in this zone are contributing to the big share of North America. Nevertheless, Asia Pacific (APAC) is anticipated to witness the more important increase rate during the outlook period. Increase in the APAC market can be accredited to the fast-growing pharmaceutical sector, favorable government policies, rising number of pharmaceutical companies establishing manufacturing facilities, and lower cost for clinical trials in this area.

Some of the prominent actors in the CRO services market contain Quintiles Transnational Holdings Inc., Laboratory Corporation Of America Holdings, Pharmaceutical Product Development, Limited liability company, PAREXEL International Corporation, ICON Plc, PRA Health Sciences, Incorporated, InVentiv Health Inc., Charles River Laboratories International Inc., INC Research Holdings Inc., and Wuxi PharmaTech Inc..

Segment Research

The analysis examines the outsourcing services specified by CROs across various sectors and territories. It aims at evaluating the market value and future increase potential of the CRO services market for distinct segments including services, therapeutic areas, final users, and localities. The market research also comprises a detailed competitive analysis of the top players in this sector together with their company descriptions, service offerings, latest developments, and key industries strategies.

Why Purchasing This Study Can Help You:

The industry report will increase both established firms as well as new entrants/smaller companies to measure the pulse of the sector, which in turn will facilitate organizations in garnering greater market shares. Companies obtaining the study could use any one or an aggregation of the below-mentioned five strategies (sector entry, service development/innovative projects, sector development, business diversification, and opposing assessment) for growing their market shares.

This study furnishes highlights on the following points:

- Business entry: Exhaustive information on the services portfolios provided by the top actors in the CRO services market. The market research examines the CRO services market by service, therapeutic area, end-user, and area

- Service Development/Innovative products: In-depth understanding on the next trends, analysis and growth activities, and new service launches in the CRO services market

- Industry development: Highlighted information about the profitable emerging sectors

- Industry diversification: Complete information about new services, increasing geographies, recent evolutions, and market investments in the CRO services market

- Opposing assessment: Detailed assessment of market shares, increase strategies, and services, and testing capabilities of leading actors in the CRO services market

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