Global contract research organization (CROs) services market is expected to reach USD 42.0 billion by 2025, at a CAGR of 7.5% in the forecast period 2019 to 2025.
CRO stands for contract research organization which provides research services to a biotechnology, medical devices and pharmaceutical companies on a contract basis. It provides numerous services such as biologic test development, clinical research, biopharmaceutical advancement, clinical trials administrations, preclinical research and commercialization.
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Major Key players profiled in this report are:
Quintiles IMS., American Preclinical Services, Pharmaceutical Product Development, LLC, BTS Research, ICON Plc, Laboratory Corporation Of America Holdings, Chiltern International Ltd., PAREXEL International Corporation, PRA Health Sciences, Inc., WuXi App Tech, InVentiv Health, INC Research Holdings Inc., Charles River Laboratories International Inc. among others.
Major Market Drivers:
- Increase demand for outsourcing analytical testing and clinical trial services
- Growing R&D expenditure
- Increasing regulatory pressure on CROs
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On the basis of type of services, the contract research organization (CROs) services market is segmented into clinical research services, early-phase development services, and laboratory services. Clinical research services are sub segmented into 1, phase 2, phase 3 and phase 4. Early-phase development services are sub segmented into discovery studies, chemistry, manufacturing, & control (CMC) and preclinical services. Preclinical services are further sub categorized into pharmacokinetics/ pharmacodynamics (pk/pd), toxicology testing services and others
On the basis of therapeutic area, the contract research organization (CROs) services market is segmented into oncology, cardiovascular, central nervous system (CNS), respiratory
On the basis of end users, contract research organization (CROs) services market is segmented into pharmaceutical and biopharmaceutical companies, medical device companies and academic institutes.
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