The global contract research organization (CRO) market is expected to reach US$ 68,198.3 Mn in 2025 from US$ 35,818.9 in 2017. The market is estimated to grow with a CAGR of 8.6% from 2018-2025.
North America is the largest geographic market and it is expected to be the largest revenue generator during the forecast period, whereas Asia Pacific is expected to witness highest growth owing to factors such as, increasing focus of industry players to expand in India & Japan and improving regulatory policies that are favorable for conducting clinical trials along with a large pool of patient participants.
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Top Market Players: World Health Organization (WHO), Centers for Disease Control & Prevention (CDC), Food & Drug Administration (FDA), United Nations (UN), International Diabetes Federation (IDF), National Institute of Health (NIH)
Increasing R&D Expenditures and Outsourcing Activities
Research and development (R&D) is an essential and crucial part of the company’s business. Pharmaceutical and biotech companies focus on the research and development (R&D) to come up with new molecules for various therapeutic applications with the greatest medical and commercial potential. The companies invest majorly on the R&Ds with the aim of delivering high quality and innovative products to the market. Research and development expenditures relate to the processes of discovering, testing and developing new products, upfront payments and milestones, improving existing products, as well as demonstrating product efficacy and regulatory compliance prior to launch. According to the International Federation of Pharmaceutical Manufacturers & Associations, the R&D expenditures in 2014 by the pharmaceuticals and biotechnology industry grew by approximately 8.7% than that of the expenditures in 2013. Moreover, in United States, investments for R&D by pharmaceutical companies had grown consistently over the last 15 years. The intensity for R&D by the companies in Japan accounted for about 13.3%, in US it accounted approximately 17% and in the European Union it was registered to be approximately 13% in the year 2014.
Rise in the Number of Clinical Trials
Clinical trials are the crucial and significant step in discovering whether the medical strategy, treatment, or device is safe and effective for human use. The clinical studies help in understanding and determining the best medical approaches for certain therapeutic area. Clinical trials are conducted primarily to collect data regarding the safety and efficacy of new drug and device development. Before the approval of drug molecules and the medical devices by the regulatory authorities, series of clinical studies are conducted. Increasing prevalence of various communicable and non-communicable diseases are increasing the demand for the development of new drugs or medical devices for the treatment. This is in turn expected to increase the demand of the clinical trial activities for various therapeutic areas. As per the US National Library of Medicine presently approximately, 280, 801 clinical studies have been listed with locations of 50 states and 204 countries in till 2018. The number of registered studies by August 2018, is shows the rise in the number of the registration for the clinical trials.
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Table of Contents
Chapter 1: Introduction
Chapter 2: Global Contract Research Organization (CRO) Market – Key Takeaways
Chapter 3: Global Contract Research Organization (CRO) Market – Market Landscape
Chapter 4: Global Contract Research Organization (CRO) Market – Key Market Dynamics
Chapter 5: Contract Research Organization (CRO) Market – Global Analysis
Chapter 6: Contract Research Organization (CRO) Market – Global Regulatory Scenario
Chapter 7: Global Contract Research Organization (CRO) Market Analysis– By Type
Chapter 8: Global Contract Research Organization (CRO) Market Analysis– By Application
Chapter 9: Global Contract Research Organization (CRO) Market Analysis– By End User
Chapter 10: North America Contract Research Organization (CRO) Market Revenue and Forecasts To 2025
Chapter 11: Europe Contract Research Organization (CRO) Market Revenue and Forecasts To 2025
Chapter 12: Asia-Pacific Contract Research Organization (CRO) Market Revenue and Forecasts To 2025
Chapter 13: Middle East & Africa Contract Research Organization (CRO) Market Revenue and Forecasts To 2025
Chapter 14: South and Central America Contract Research Organization (CRO) Market Revenue and Forecasts To 2025
Chapter 15: Contract Research Organization (CRO) Market –Industry Landscape
Chapter 16: Contract Research Organization (CRO) Market – Key Company Profiles
Chapter 17: Appendix
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