Seattle, Sept. 16, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the U.S. Contract Research Organization (CROs) market is estimated to be valued at US$ 15,918.6 million in 2022 and is expected to exhibit a CAGR of 9.6% during the forecast period (2022-2030).
Key Trends and Analysis of the U.S. Contract Research Organization (CROs) Market:
The increasing number of services offered by CROs and the rising trend of collaborations among key players is also driving the market growth. For instance, in October 2020, Pharmaceutical Product Development (PPD Inc.), a global contract research organization providing comprehensive, integrated drug development, laboratory and lifecycle management services. Announced its expansion by opening a new multipurpose clinical research laboratory in Suzhou, China, to offer bioanalytical, biomarker, and vaccine services for clinical trials across all phases of pharmaceutical development. Thus, due to these factors, market is expected grow over the forecast period.
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Key Market Takeaways:
U.S. Contract Research Organization (CROs) market is expected to exhibit a CAGR of 9.6% during the forecast period due to increase in strategies like partnership by key market player. For instance, according to the GLOBE NEWSWIRE, on October 13, 2021, Informa Pharma Intelligence, a provider of drug, device, company, clinical trial and market intelligence in the competitive pharma and medtech markets, announced its partnership with ICON plc, a contract research organizations (CROs) provider, to elevate its cutting-edge, predictive analytic solution for clinical trial feasibility planning.
On the basis of therapeutic application, Oncology and Cardiovascular Diseases segment is expected to hold a dominant position over the forecast period.
Competitive Landscape:
Key players operating in the U.S. Contract Research Organization (CROs) market include Laboratory Corporation of America Holdings (Covance), IQVIA, Paraxel International Corporation, Syneos Health, PRA Health Sciences, Charles River Laboratoires International Inc. (CRL), Pharmaceutical Product Development (PPD), ICON Public Limited Corporation, Wuxi Apptec, Medpace Holdings, Inc, Medidata Solutions, Inc., Theorem Clinical Research, Pharmaron, Envigo, and Clinipace
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Market Segmentation:
- U.S. Contract Research Organization (CROs) Market, By Service Type:
- Drug Discovery
- Preclinical studies
- Early Phase I - IIa
- Phase IIa - III
- Phase IIIb – IV
- Drug Development
- Medical Coding and Writing
- Monitoring
- Clinical Data Management
- Bio-statistics
- Site Management
- Protocol Development
- Biomarker Discovery
- U.S. Contract Research Organization (CROs) Market, By Therapeutic Application:
- Oncology
- Cardiovascular Diseases
- Central Nervous System Diseases
- Infectious Diseases
- Metabolic Disorders
- Immunological Disorders
- Respiratory Disorders
- Others
- U.S. Contract Research Organization (CROs) Market, By Size of CRO:
- Small size
- Medium size
- Large size
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