Major factors driving the healthcare CRO market growth include rising investments for research & development activities from pharmaceutical industry as well as widespread drug pipelines for the treatment of several chronic diseases, like metabolic disorders, immunological disorders and neurological disorders. In addition, growing outsourcing of pharmaceutical as well as biopharmaceutical research & development activities, higher rate of drug clinical trials failures and cost-effective clinical trials in emerging economies is further fueling the market growth.
On the other hand, stringent government regulations for the pharmaceutical and biopharmaceutical drugs approval is restraining the healthcare CRO market growth. Furthermore, lack of experienced research professionals is also challenging the market growth, especially in the developing economies, like India and China.
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The global market of healthcare CRO has been segmented by different type, therapeutic area, end user and geography. Further, type segment of the market is bifurcated into early-phase development services, clinical research services, laboratory services and consulting services. Clinical research services section of the type segment accounted for the major healthcare CRO market share, owing to the rising biosimilars & biologics markets, augmenting R&D investments in pharmaceutical as well as biopharmaceutical companies and growing activities of clinical trial.
Likewise, therapeutic area segment of the healthcare CRO market is sub-divided into oncology, cardiovascular, central nervous system (CNS), diabetes, respiratory and others. Oncology section of the segment accounted for the highest market share across the globe, owing to growing number of clinical trials as well as growing prevalence of cancer globally.
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Furthermore, end user segment of the market is anticipated to exhibit the growth with double-digit CAGR over the forecast period, owing to growing incidences of chronic diseases, technological progressions in medical devices as well as acceptance of point-of-care (POC) testing.
Geographically, market was led by North America with major market share in 2017, trailed by Europe and Asia Pacific respectively.
Some of the key players operating within the competitive edge of healthcare CRO market across the globe include Quintiles IMS Holdings Inc., Laboratory Corporation of America Holdings Charles River Laboratories Inc., PAREXEL International Corporation, Pharmaceutical Product Development LLC, PRA Health Sciences, ICON plc and inVentiv Health Inc.
Key segments of the healthcare CRO market include:
- Type segment
- Early-phase development services
- Discovery studies
- Chemistry, manufacturing & control (CMC)
- Preclinical services
- Clinical research services
- Phase I clinical research services
- Phase II clinical research services
- Phase III clinical research services
- Phase IV clinical research services
- Laboratory services
- Bioanalytical testing services
- Analytical testing services
- Consulting service
- Therapeutic Area Segment
- Central nervous system (CNS)
- End User Segment
- Pharmaceutical & biopharmaceutical companies
- Medical device companies
- North America
- Latin America
- Middle East & Africa
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What to expect from the upcoming ‘Global healthcare CRO Market’ analysis:
-Analysis over future prospects as well as Global healthcare CRO Market trends
– Information regarding technological progressions as well as innovations taking place in developing as well as developed economies and also various macro & microeconomic factors that affect the growth of the market.
– Supportive initiatives by government likely to influence the market dynamics.
– Key drivers influencing market’s growth, opportunities, restraints, sales channels and distributors.
– In-depth analysis of different market segmentations including type, therapeutic area, end user and geographical regions.
– Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market such as expansions, growth strategies, agreements, new product launches and acquisitions in the market
– Value Chain and Sales Channels Analysis
Who should buy this report?
– Report is especially designed for Venture capitalists, Investors, financial institutions, Analysts, Government organizations, regulatory authorities, policymakers, researchers, strategy
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