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The contract research organization (CRO) services market is projected to reach USD 86.5 billion by 2026 from USD 53.2 billion in 2021, at a CAGR of 10.7%

·3 min read

during the forecast period, owing to increasing number of clinical trials, rising prevalence of orphan & rare diseases and high cost of in-house drug development. By type, the clinical research services segment accounted for the largest share of the contract research organization (CRO) services market

New York, July 28, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Contract Research Organization Services Market by Type, Therapeutic Area, Molecule Type, End User - Global Forecast to 2026" - https://www.reportlinker.com/p04263040/?utm_source=GNW
The contract research organization (CRO) services market by type is categorized into major early-phase services, clinical research services, laboratory services, and consulting services.Clinical research services segment dominated the market in 2020.

The large share of this segment can be attributed to growing demand for newer drugs and subsequent increase in the prevalence of chronic diseases.

Asia Pacific: The fastest-growing region in the contract research organization (CRO) services market.

The Asia Pacific market is projected to grow at the highest CAGR during the forecast period, mainly due to implementation of favorable government policies and increasing number of newly established manufacturing facilities.

North America: the largest share of the contract research organization (CRO) services market
North America accounted for the largest share of the contract research organization (CRO) services market. Rapid growth in the biosimilar and biologics markets and an increase in clinical trial activity are the major factors driving the market growth.

Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Respondent– Supply Side- 70%, Demand Side- 30%
• By Designation— Executives- 25%, CXOs & Directors--30%, Managers - 45%
• By Region— North America - 40%, Europe - 25%, APAC – 20%, LATAM- 10%, MEA- 5%

The contract research organization (CRO) services market is dominated by a few globally established players such as including IQVIA (US), LabCorp (US), Charles River Laboratories (US), WuXi AppTec (China), Syneos Health (US), Parexel International (US), PPD (US), and ICON Plc (US). Other players operating in the market are Medpace Holdings (US), SGS (Switzerland), PSI CRO AG (US), Axcent Advanced Analytics (US), BIO Agile Therapeutics (US), Firma Clinical Research (US), Acculab Life Sciences (US), Azelix (US), CTserv (US), Pepgra (UK), and Dove Quality Solutions (US), Novotech Health Holding (Australia), Geneticist Inc. (US), Linical Americas (US), Frontage Holding Corporation (US), and Celerion (US).

Research Coverage:
The report segments the contract research organization (CRO) services market based on region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa),
Type (Early-Phase Services (Chemistry, Manufacturing & Control, Preclinical Services (Pharmacokinetics/Pharmacodynamics (PK/PD), Toxicology Testing, Other Preclinical Services), Discovery Studies), Clinical Research Services (Phase I, Phase II, Phase III, Phase IV), Laboratory Services (Bioanalytical Testing, Analytical Testing, Physical Characterization, Raw Material Testing, Batch Release Testing, Stability Testing, Other Analytical Testing, Consulting Services, and Data Management Services), Therapeutic Area (Oncology, Infectious Diseases, Neurology, Cardiovascular System (CVS) Disorders, Metabolic Disorders/Endocrinology, Immunological Disorders, Respiratory Disorders, Psychiatry, Dermatology, Hematology, Ophthalmology, Gastrointestinal Diseases, Genitourinary & Women’s Health, and Other Therapeutic Areas), End User (Pharmaceutical & Biopharmaceutical Companies, Medical Device Companies, and Academic Institutes)
The report also provides a comprehensive review of market drivers, challenges, and opportunities in the contract research organization (CRO) services market.

Key Benefits of Buying the Report:
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.

The report also helps stakeholders understand the pulse of the contract research organization (CRO) services market and provides them information on key market drivers, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p04263040/?utm_source=GNW

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