Dublin, Sept. 03, 2020 (GLOBE NEWSWIRE) -- The "North America Healthcare Contract Research Organizations Services Market to 2027 - Service Type; Therapeutic Indication; End User, and Country" report has been added to ResearchAndMarkets.com's offering.
The North America healthcare contract research organizations (CRO) services market is expected to reach US$ 40,863.26 million by 2027 from US$ 19,498.79 million in 2019. The market is estimated to grow at a CAGR of 9.9% during 2020-2027.
The healthcare contract research organizations (CRO) services market is growing primarily due to the growing number of clinical trials and increasing expenditure in R&D and outsourcing activities in the North America region. Factors such as stringent regulations for approval of drugs damage the growth of the market. Additionally, rising biosimilars and biologics market and globalization of clinical studies are likely to fuel the growth of the healthcare contract research organizations (CRO) services market during the forecast period.
Exponentially developing healthcare infrastructure and increasing adoption of advanced technologies by several countries have led to the globalization of clinical studies during the past decade. Additionally, economic globalization in developed countries play a key role in globalization. For instance, according to a study published in the International Journal of Clinical Trials in 2016, the number of countries, which serve as clinical study locations outside the US, has doubled in the last 10 years.
Furthermore, according to a data published by clinicaltrails.gov, as of June 2020, an estimated 61% of the total studies were recruited at out of the US locations. Factors such as cost optimization, infrastructure availability, patient recruitment rate, government regulations, and market potential offer a major contribution for the transition from US to other countries. Globalization of these clinical studies has opened new avenues and market potential for CROs.
North America is witnessing the growing number of COVID-19 cases. Due to the outbreak of COVID-19 pandemic there is an increased need for therapeutic or vaccine for this highly contagious viral disease. Hence, more COVID-19 clinical trials are being planned and initiated, whereas, the large number of clinical trials in US for non-COVID-19 indications are being delayed. Therefore, it is likely to affect the healthcare contract research organizations (CRO) services market owing to the above mention points.
Based on service type, the healthcare contract research organizations (CRO) services market is further segmented into early phase development, laboratory services, consulting services, and clinical research services. Early phase development market is further categorized into discovery studies, chemistry, marketing & manufacturing, and preclinical market. The laboratory services segment is further sub segmented as bio-analytical testing and analytical testing. The clinical research services segment is further bifurcated into phase I, phase II, phase III, and phase IV. In 2019, the clinical research segment accounted for the largest share of the market. Growth of this segment is attributed to the increasing clinical trials and growing R&D investment.
Key Topics Covered
1. Introduction
1.1 Scope of the Study
1.2 Research Report Guidance
1.3 Market Segmentation
2. North America Healthcare Contract Research Organizations (CRO) Services Market - Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Healthcare Contract Research Organizations (CRO) Services Market - Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Healthcare contract research organizations (CRO) services Market - North America PEST Analysis
4.3 Expert Opinion
5. North America Healthcare Contract Research Organizations (CRO) services Market - Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Increasing Expenditure in R&D and Outsourcing Activities
5.1.1 Rising Number of Clinical Trials
5.2 Key Market Restraints
5.2.1 Stringent Regulations For Approval Of Drugs
5.3 Key Market Opportunities
5.3.1 Rising Biosimilars and Biologics Market
5.4 Future Trends
5.4.1 Globalization of Clinical Studies
5.5 Impact Analysis
6. Healthcare Contract Research Organizations (CRO) Services Market - North America Analysis
6.1 North America Healthcare Contract Research Organizations (CRO) Services Market Revenue Forecasts and Analysis
7. North America Healthcare Contract Research Organizations (CRO) Services Market Analysis and Forecasts To 2027 - By Service Type
7.1 Overview
7.2 North America Healthcare Contract Research Organizations (CRO) Services Market, by Service Type 2019 & 2027 (%)
7.3 Early Phase Development
7.4 Laboratory Services
7.5 Consulting Services
7.6 Clinical Research Services
8. North America Healthcare Contract Research Organizations (CRO) Services Market Analysis - by Therapeutic Application
8.1 Overview
8.2 North America Healthcare Contract Research Organizations (CRO) Services Market, by Therapeutic Application 2019-2027 (%)
8.3 Oncology
8.4 Infectious Diseases
8.5 Cardiovascular Disease
8.6 Respiratory Diseases
8.7 Neurological Disorders
8.8 Others
9. North America Healthcare Contract Research Organizations (CRO) Services Market Analysis - by End-user
9.1 Overview
9.2 North America Healthcare Contract Research Organizations (CRO) Services Market, by End-user 2019-2027 (%)
9.3 Pharmaceutical and Biopharmaceutical Companies
9.4 Medical Device Companies
9.5 Others (Academic Institutes)
10. Healthcare Contract Research Organizations (CRO) Services Market Revenue and Forecasts to 2027 - Geographical Analysis
11. Impact of COVID-19 Pandemic on North America Healthcare Contract Research Organizations (CRO) Services Market
12. Company Profiles
12.1 Charles River Laboratories, Inc.
12.2 IQVIA Inc.
12.3 Laboratory Corporation of America Holdings (Covance)
12.4 Parexel International Corporation
12.5 PRA Health Sciences
12.6 Syneos Health
12.7 Medpace
12.8 PPD Inc.
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