Dublin, June 15, 2021 (GLOBE NEWSWIRE) -- The "Global Contract Research Organization Market, By Service (Clinical Research Services, Early Phase Development Services, Laboratory Services, Consulting Services and Data Management Services), By Application, By End User, By Region, Competition Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Contract Research Organization Market was valued at USD61.13 billion in 2020 and is expected to reach USD99.65 billion in 2026 by registering a CAGR of 8.36%.
The market is anticipated to grow on account of growing healthcare industry and various research and developments that are being carried out. With variant terminal diseases, and new diseases being diagnosed, welfare of the human population is heavily dependent on the growth of healthcare industry.
Government aids the research and development for the manufacturing of biopharmaceuticals, which is positively influencing the growth of contract research organization (CRO) market in the next five years. Also, high cost of in-house drug development is also making headway for the growth. Contract research organizations are research based companies that aid the pharmaceuticals and biotechnology industries to perform their research and conduct the clinical trials.
Moreover, these organizations also serve government institutions, foundations, and universities in their research purposes. The market may face challenges from the high cost labor, and difficult transportation of the products and services to the developing economies.
The Global Contract Research Organization Market is segmented by service, application, end-user, company and regional distribution. Based on service, the market is further fragmented into clinical research services, early phase development services, laboratory services, consulting services and data management services.
Clinical research services dominated the market in 2020 and are further anticipated to maintain dominance in the market over the forecast period as well owing to the fact that, number of clinical trials are increasing. Moreover, clinical research becomes cost effective, and brings technical expertise in the research because of CROs, thereby enhancing the effectiveness and supporting the growth of the market in the recent future.
Some of the major competitors in the market are, Covance Inc., Syneos Health Inc., PRA Health Sciences, Inc., Medpace Holdings, Inc., WuXi Apptec Co. Ltd, Charles River Laboratories International Inc., Parexel International Corporation, Envigo RMS LLC, SGS S.A, Omnicare Inc., Onyx Scientific Limited, Pierrel Research International AG, among others.
The companies are focusing on extensive research and developments activities to stay competitive in the market. Other competitive strategies include formation of alliances and partnerships.
Years considered for this report:
- Historical Years: 2016 - 2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022 - 2026
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Contract Research Organizations Market
4. Executive Summary
5. Global Contract Research Organizations Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Service (Clinical Research Services, Early Phase Development Services, Laboratory Services, Consulting Services and Data Management Services)
5.2.2. By Application (Oncology, CNS, Autoimmune/Inflammation, Diabetes, Cardiovascular, Others)
5.2.3. By End User (Pharmaceutical and Biopharmaceutical Companies, Medical Device Companies, Academic Institutes, Others)
5.2.4. By Region
5.2.5. By Company (2020)
5.3. Market Map
6. North America Contract Research Organizations Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Service
6.2.2. By Application
6.2.3. By End User
6.2.4. By Country (United States; Canada; Mexico)
6.3. North America: Country Analysis
6.3.1. United States Contract Research Organizations Market Outlook
6.3.2. Canada Contract Research Organizations Market Outlook
6.3.3. Mexico Contract Research Organizations Market Outlook
7. Europe Contract Research Organizations Market Outlook
8. Asia-Pacific Contract Research Organizations Market Outlook
9. South America Contract Research Organizations Market Outlook
10. Middle East and Africa Contract Research Organization Market Outlook
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
13. Competitive Landscape
13.1. Competition Outlook
13.2. Company Profiles
- Pharmaceutical Product Development, Inc.
- Covance Inc.
- Syneos Health Inc.
- PRA Health Sciences, Inc.
- Medpace Holdings, Inc.
- WuXi Apptec Co. Ltd
- Charles River Laboratories International Inc.
- Parexel International Corporation
- Envigo RMS LLC
- SGS S.A
- Omnicare Inc.
- Onyx Scientific Limited
- Pierrel Research International AG
For more information about this report visit https://www.researchandmarkets.com/r/w7v7nt