About Healthcare Contract Research Organization
A Contract Research Organization is a corporation appointed by a corporation within the medical field to manage the company's clinical trials and perform other tasks to support bring a drug or device to the market. The organization is usually contract with companies within the pharmaceutical, biotechnology, or medical device industries, but their clients also include governmental institutions, foundations, and universities. These organizations contract with CROs to accumulate the precise expertise needed to hold out trials safely and efficiently without hiring permanent staff.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 20.3% |
Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Healthcare Contract Research Organization market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IQVIA Holdings, Inc. (United States), Laboratory Corporation of America Holdings (United States), Pharmaceutical Product Development, Inc. (United States), Parexel International Corporation (United States), Charles River Laboratories International, Inc. (United States), ICON PLC (Ireland), Medidata Solutions, Inc. (United States), Syneos Health, Inc. (United States), Pharmaron Beijing Co., Ltd. (China) and GVK Biosciences Private Limited (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are SGS SA (Switzerland), EPS International Co., Ltd (Japan) and Genscript Biotech (United States).
Segmentation Overview
AMA Research has segmented the market of Global Healthcare Contract Research Organization market by Type (Early Phase development, Clinical research and Laboratory regulatory Consulting) and Region.
On the basis of geography, the market of Healthcare Contract Research Organization has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Therapeutic Areas, the sub-segment i.e. Oncology will boost the Healthcare Contract Research Organization market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-User, the sub-segment i.e. Pharmaceutical and Biopharmaceutical Companies will boost the Healthcare Contract Research Organization market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service Type, the sub-segment i.e. Early Phase Development Services {Discovery Studies, Chemistry, Manufacturing & Control, Preclinical Services} will boost the Healthcare Contract Research Organization market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Consolidation in the CROs Industry
Market Growth Drivers:
Increasing R&D Investment in Clinical & Non-Clinical Research Activities and Increasing Demand Of Outsourcing Analytical Testing And Clinical Trial Services
Challenges:
Intellectual property right issues and Stringent regulatory policies
Restraints:
Regulatory Pressure on CRO Service Providers
Opportunities:
Untapped Emerging Economies, Growing Biosimilars and Biologics Market and Rising Demand for Specialized Testing Services
Market Leaders and their expansionary development strategies
In October 2023,Curavit Clinical Research, a virtual contract research organization (VCRO) that specializes in decentralized clinical trials (DCTs) for digital therapeutics (DTx), launches new Health Economics and Outcomes Research (HEOR) Practice. Curavit will incorporate HEOR services in clinical trials to capture evidence of the health economics value of novel pharmaceutical products, especially digital therapeutics which are striving to accelerate market momentum.
In March 2020, Medidata signed an agreement with Medpace Inc. for integrating Medidata Rave Imaging with Medpace's imaging systems and workflow. The integration is expected to create a seamless platform for capturing, managing, analyzing, and storing images and imaging data for clinical trials.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Healthcare CRO Services Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.