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Contract Research Organization (CRO) Market Will Grow USD 59.42 Billion by 2020

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Contract Research Organization (CRO) Market Will Grow USD 59.42 Billion by 2020

July 05
17:20 2017
According to the report, global Contract Research Organization Market was valued at USD 34.00 billion in 2014 and is expected to reach USD 59.42 billion in 2020, growing at a CAGR of 9.80% between 2015 and 2020.

Zion Market Research has published a new report titled Contract Research Organization (CRO) Market for Early-Stage Development Services and Last-Stage Development Services: Global Industry Perspective, Comprehensive Analysis and Forecast 2014 – 2020. According to the report, global Contract Research Organization market was valued at USD 34.00 billion in 2014 and is expected to reach USD 59.42 billion in 2020, growing at a CAGR of 9.80% between 2015 and 2020.

CRO is the organization that supports outsourced research and development services for the various industries like pharmaceutical, biotechnology, medical devices industries, government institutions, foundations, and universities. The demand for contract research organizations has been fuelled by advanced clinical development programs and the demand for new pharmaceutical products across the globe. The research and development of pharmaceutical products typically need around 15 years. In order to lower down the expenditure research and development and cut down the time required for product marketing, and focus on other operational activities, pharmaceutical vendors are outsourcing preclinical and other drug development phases to CROs. Moreover, the high failure rate of clinical trials is also expected to trigger the demand for CROs by pharmaceutical and biopharmaceutical vendors to outsource their R&D.

Browse through 7 Market Tables and 35 Figures spread through 110 Pages and in-depth TOC on “Global Contract Research Organization Market – Industry Analysis, Size, Growth, Trends, Statistics, Segment and Forecast 2014-2020”.

Request Free Sample copy of Global Contract Research Organization (CRO) Market Report @ http://www.marketresearchstore.com/report/contract-research-organization-market-for-early-stage-development-services-36074#RequestSample

Global CRO industry has witnessed the rise in strategic alliances, acquisitions, and joint ventures among vendors in the CRO market. These strategic initiatives are intended at extending service offerings and geographical presence across the world. Pharmaceutical manufacturing companies in emerging countries in Asia-Pacific, Latin America, and Eastern Europe account for the majority of outsourcing activities owing to easy access to large pools of treatment naïve patients, low labor and manufacturing costs, and a skilled medical workforce.

The contract research organization market is segmented on the basis of the end-user segmentation which includes early-stage development services and last-stage development services. The late-stage development services segment includes phase II-IV clinical trials and central laboratory services. The last-stage development services were the largest end-user segment of the CRO market and accounted for over 70% share of the total market in 2014. Last-stage development services segment is also expected to exhibit fastest growth rate during the years to come.  

Browse the full “Contract Research Organization (CRO) Market for Early-Stage Development Services and Last-Stage Development Services: Global Industry Perspective, Comprehensive Analysis and Forecast 2014 – 2020” report at http://www.marketresearchstore.com/report/contract-research-organization-market-for-early-stage-development-services-36074

The contract research organization market is segmented on the basis of the regions such as Americas, EMEA (Europe, Middle East, and Africa) and APAC (Asia Pacific). The Americas dominated the global CRO market with around 50% share of the total market in 2014. CRO market in Americas is led by U.S.

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Some of the key players involved globally in contract research organization market include Covance, Parexel International, PRA Health Sciences, Quintiles Translational. Other major players in the contract research organization market include Chiltern, Charles River Laboratories, Icon, Inventiv Health, QPS, Ricerca Biosciences, EPS , SynteractHCR, INC Research, WIL Research and WuXi AppTec.

Contract Research Organization Market – End-user Segment Analysis

  • Early-Stage Development Services
  • Last-Stage Development Services

 

Contract Research Organization Market – Regional Segment Analysis

  • Americas
    • U.S.
  • Europe
  • Asia Pacific
    • China
    • India
  • The Middle East and Africa

 

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Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

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