Contract Research Organization Market: Global Industry Analysis and Opportunity Assessment 2020-2025

Contract Research Organization Market is valued at USD 39.1 Billion in 2018 and expected to reach USD 64.5 Billion By 2025 with CAGR of 7.4% over the forecast period.

Increase in the novel drug development by the pharmaceutical companies time are expected drive the growth of Contract research organization

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Market Analysis of Contract Research Organization-

Contract research organizations are also known as clinical research organization and these companies provide support to the lifescience industry by providing them research services on contract basis. These organizations are designed to reduce the manufacturing cost of novel drug and also provide easy access to the market. These organizations also offer clinical trials to the pharmaceutical or medical devices companies which also help them to get FDA or EMA approval for the product without any extra expenses. These approvals are required by the company to assure the safety and efficacy of the product.

The regions covered in this Contract Research Organization market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Contract Research Organization market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.

Key Players for Market Reports–

Some major key players for Contract Research Organization market are Laboratory Corporation of America Holdings, LLC, ICON Plc, Wuxi Pharmatech (Cayman), Inc., InVentiv Health, Inc., PAREXEL International Corporation, Pharmaceutical Service Type Development, INC Research Holdings, Inc., Charles River Laboratories International, Inc., Quintiles Transnational Holdings, Inc., and PRA Health Sciences, Inc. among others.

Some of the major factors drives the growth of contract research organization market over the period of time include the novel drug development by the pharmaceutical companies. The constant increase in the chronic disorders is expected to raise the demand for advanced drug for the treatment and for this pharmaceutical companies are constantly striving for the same. Furthermore, increase in research and development activities are expected to fuel the growth of contract research organization market over the near future.  Moreover, increase investment by the government to further promote the research and development activities for the drug development are expected to create ample opportunities in the market. However, High cost and intellectual property rights are expected to hamper the growth of contract research organization market over the forecast period.

Market Segmentation –

By Service Type

Early Phase Development Services, Clinical research services, Laboratory services, Consulting services

By Therapeutic Area

Oncology, Clinical pharmacology, Cardiology, Infectious disease, Neurology, Ophthalmology, Gastroenterology and hepatology, Others

By End-Use

Pharmaceutical & biopharmaceutical companies, Medical device companies, Academic institutes

North America is expected to dominate the Contract Research Organization Market.

North America accounted for largest share to dominate the contract research organization market. The U.S. holds the major market share which was closely followed by Canada and others countries. Due to the various guidelines with regards to clinical trials and most of the major Pharmaceutical companies belongs to the region. Europe is expected to be the second largest growing economy after North America. The presence of advanced infrastructure and increase in research and development activities are expected to create ample opportunities for the contract research organization market. Asia Pacific is expected to be the fastest growing region over the period of time due to the presence of developing economies such as India, China and others. There is an increase in the presence of pharmaceutical companies in the region coupled with increase in the demand for novel drugs for the treatment of chronic disorders are expected to promote the growth of contract research organization market. Latin America, Middle East and Africa is expected to develop moderately over the forecast period.

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