StemCell Therapy

DUBLIN, Jan. 20, 2020 /PRNewswire/ -- The "Global Contract Research Organization (CRO) Market, Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

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Owing to a constantly changing pharmaceutical landscape, the industry is expected to witness a moderate 4% to 5% growth in the next 5 to 7 years, to surpass $1.5 trillion by 2025.

Increased technology adoption in the form of eClinical solutions and innovative trial designs is expected to transform the CRO landscape.

In coordination with the industry growth, market participants are investing about 8% to 10% of their revenues toward drug discovery and development. With an overall R&D investment of approximately $170 billion in 2018, the industry is working toward developing new and innovative curative therapies (e.g., regenerative medicine).

As a result of a higher R&D activity, there is higher reliance on outsourcing partners (e.g., CRO vendors) that support pharma and biotech participants with cost-effective and time-efficient drug development services. The global CRO industry is a highly fragmented and competitive market, with more than 1,000 participants globally.

Europe is emerging as a key location for clinical research, with several small-to-mid segment niche CROs focusing on the region and, hence, propelling growth. Moreover, with APAC providing cheaper but effective alternatives for drug development, several big pharma companies are collaborating with participants in the region, thereby, making it the strongest growing region across the CRO industry.

A highly fragmented market is a result of numerous small-to-mid segment participants focused on either a specific therapy area or specific service segment. This, in turn, is propelling consolidation in the industry, with leading CROs acquiring these niche participants, thus, increasing their service portfolio and geographic span.

The global CRO market is also witnessing an increased adoption of digitization in the form of eClinical solutions, using AI and machine learning-based platforms, providing an opportunity for several CROs to position themselves in the segment. Several technology-focused CROs are now developing in-house expertise which is changing the global clinical trial paradigm with the implementation of adaptive, virtual, and remote clinical trials. The companies are also moving toward an embedded business model by integrating their services with that of the sponsor's business strategy, thereby, supporting as an end-to-end solution provider.

Key Issues Addressed

Key Topics Covered

1. Executive Summary

2. Total CRO Market - Overview

3. Drivers, Restraints, and Trends - Total CRO Market

4. Total CRO Market - Forecasts and Trends

5. Discovery and Preclinical CRO Market Analysis

6. Clinical CRO Market Analysis

7. Regional Forecast Analysis - North America

8. Regional Forecast Analysis - Europe

9. Regional Forecast Analysis - Asia-Pacific

10. Regional Forecast Analysis - Rest of World

11. Total CRO Market - Competitive Environment

12. Clinical CRO Subsegment Analysis

13. Bioanalytical and cGMP Testing Subsegment

14. Subsegment Analysis - Central Laboratory Services

15. Subsegment Analysis - Biostatistics

16. Subsegment Analysis - Data Management

17. Subsegment Analysis - Pharmacovigilance

Story continues

18. Subsegment Analysis - Health Economics Outcomes Research (HEOR)

19. Digital Disruption in the CRO Industry

20. Visioning Scenarios

21. CRO Industry Stakeholder Landscape

22. The Last Word

For more information about this report visit https://www.researchandmarkets.com/r/frjl4a

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Contract Research Organization (CRO) Market Outlook to 2024 - Increased Technology Adoption in the Form of eClinical Solutions & Innovative Trial...

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