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Contract Research Organization Services Market by Type, Therapeutic Area, End User - Global Forecast to 2023

Contract Research Organization Services Market: Global Forecast until 2023

  • February 2018
  • 262 pages
  • ID: 4263040
In this report:
This market is expected to reach USD ##,##.## million by 2023 from USD ##,##.## million in 2018, at a CAGR of ##.##% during the forecast period.
By 2025, more than ##% Europeans are expected to be aged ## years and above, with a rapid increase in the number of people aged ## years and above.
The global CRO services market is expected to reach USD ##.## billion by 2023 from an estimated USD ##.## billion in 2018, at a CAGR of ##.##%.

Summary

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The Contract Research Organization services market is estimated to rise at a compound annual growth rate of 7.60 percent between 2018 and 2023.

The CRO services market is forecasted to reach ~$56.3B by 2023 from ~$39.1B in 2018, at a compound annual growth rate (CAGR) of 7.60 percent. Increased outsourcing of R&D activities and growing number of clinical trials are some of the main factors driving the increase of this market. Nevertheless, intense competition in the CRO services market is one of the main challenges for the actors operating in the CRO services market

Laboratory services segment to witness the more considerable rise rate during the estimate period.

Among the CRO services, the laboratory services segment is expected to record the maximal compound annual growth rate (CAGR) during the outlook period. The high rise of this segment is assigned to the rising number of pipeline drugs and increasing outsourcing of laboratory services by pharmaceutical and biopharmaceutical firms.

Oncology segment to grow at the highest CAGR (Compound annual growth rate) from 2018 to 2023

Oncology segment is projected to register the highest compound annual growth rate (CAGR) during the estimate period. The growing number of clinical trials and growing prevalence of cancer worldwide are the main factors supporting its development during the outlook period.

APAC to witness the more significant increase rate during the estimate period.

The Asia Pacific area is forecast to witness the more important Compound annual growth rate during the outlook period, owing the fast growth in the pharmaceutical and biopharmaceutical sector, low cost of clinical trials, increasing number of CROs, and favorable government policies in the territory.

Break of primary members taking part:

• By Company category - Tier 1: 21.0 percent, Tier 2 - 26.0 percent, and Tier 3 - 53.0 percent

• By Description - C-suite: 32.0 percent, D-level: 26.0 percent, and Others: 42.0 percent

• By Area - North America continent: 26.0 percent, Europe (EU): 35.0 percent, Asia Pacific (APAC): 20.0 percent, Latin America area: 11.0 percent, and the Middle East (ME) & African continent: 8.0 percent

Segment Research

The market research examines the different CRO services and their adoption patterns in the sector. It aims at evaluating the market value and future increase potential of the overall CRO services market for distinct segments including type, therapeutic area, final user, and area. The industry report 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 study will increase both established firms as well as new entrants/smaller companies to measure the pulse of the sector, which in turn would help garner a greater share. Companies obtaining the analysis could use any one or combination of the below-mentioned strategies for strengthening their market positions.

This study furnishes highlights on the following points:

• Market Uptake: Exhaustive data on the service portfolios provided by the top actors in the CRO services market

• Service Launch/Innovative products: In-depth understanding on new service launches in the CRO services market

• Market Development: Highlighted information about profitable emerging sectors, by category, therapeutic area, end-user, and area

• industry diversification: Complete information about new services, increasing geographies, recent evolutions in the CRO services market

• opposing assessment: In-depth assessment of increase strategies, services, and manufacturing competences of key players in the CRO services market

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