Dublin, Oct. 04, 2018 (GLOBE NEWSWIRE) — The “Contract Research Organization (CRO) Services Market Forecasts to 2024” report has been added to ResearchAndMarkets.com’s offering.
The Global Pharma Contract Research Organization market is estimated to witness a CAGR of 8.2% during the forecast period 2018-2024. The global market is analyzed based on three segments -Service type, therapeutic area and regions.
The market for pharma contract research organization is driven by increasing outsourcing of research and development by pharmaceutical companies, increasing clinical trials across the globe, increasing number of patent expiration and growth in biopharmaceuticals market are some of the factors driving the growth of CRO market, whereas, lack of skilled personnel and quality issues related to services offered by CROs are limiting the growth of CRO market to an extent.
North America is the major shareholder in the global pharma contract research organization market, followed by Europe. Increasing growth of biopharmaceutical market, high quality standards of pharma and biopharma industry and availability of advanced technologies makes North America major shareholder of pharma CRO market. Asia Pacific is expected to grow at high CAGR during forecasted period due to increasing research activities, growing patient pool, and flexible regulatory environment for clinical trials.
The pharma contract research organization market by service type is segmented into discovery, preclinical studies, clinical studies and others. Among these, clinical study services accounted for the highest market share in 2017, due to increasing prevalence of lifestyle and metabolic diseases, growth in the elderly population and increasing clinical trials globally.
The market by therapeutic area is segmented into oncology, infectious disease, cardiovascular disease, CNS disorders, immunological disorders, respiratory disease, diabetes and others. Oncology occupied a major market share in 2017 and is expected to remain same for next five years. This is due to increasing global prevalence of cancer across the globe and high number of ongoing clinical trials in this segment.
Competitive Analysis:
There is increase in acquisitions and mergers by the CRO’s in recent years to gain global foothold in the highly competitive CRO market. For instance, in August 2017, LabCorp acquired CRO Chiltern for $1.2 billion, which will become part of the company’s Covance Drug Development business. This will strengthen LabCorp’s Position as a Global Life Sciences Company with Leading Diagnostics and Drug Development Businesses. In August 2017, Avista Healthcare and CRO Envigo have entered into a definitive merger agreement under which Envigo will become a wholly owned subsidiary of Avista. In August 2017, Mercachem and Syncom, two of the leading European drug discovery Contract Research Organizations (CRO), announced the merger of two companies that will result in the formation of Mercachem-Syncom Group, with more than 300 employees and operations in Nijmegen and Groningen. In addition, the company has numerous partnership to enhance their service capabilities. For instance, In March 2018, PAREXEL announced a partnership with CHA Medical Group to increase its early phase clinical development capabilities in South Korea. WuXi AppTec entered into partnership with biopharmaceutical company Antengene Corporation to accelerate drug development for oncology.
Key Topics Covered:
1 Industry Outlook
1.1 Industry Overview
1.1.1 Industry Trends
1.1.2 R&D pipeline in pharmaceutical industry
1.2 Total addressable market
2 Report Outline
2.1 Report Scope
2.2 Report Summary
2.3 Research Methodology
2.4 Report Assumptions
3 Market Snapshot
3.1 Market Definition
3.2 Need of CRO
3.3 History of CRO
3.4 Segmented Addressable Market (SAM)
3.5 Trends of the pharma contract research organization market
3.6 Related Markets
3.6.1 Pharmaceutical Contract manufacturing organization market
3.6.2 Drug discovery outsourcing
4 Market Outlook
4.1 Funding Scenario
4.2 Process of Drug Development
4.3 Market segmentation
4.4 PEST Analysis
4.5 Porter 5(Five) Forces
5 Market Characteristics
5.1 DRO – Global pharma contract research organization Market Dynamics
5.1.1 Drivers
5.1.1.1 Upsurge in outsourcing of R&D activities
5.1.1.2 Rising number of clinical trials across the globe
5.1.2 Opportunities
5.1.2.1 Growth in the biopharmaceutical market
5.1.2.2 Increasing number of deals to develop new compounds for rare disease
5.1.3 Restraints
5.1.3.1 Quality issues related to services offered by CRO
5.1.3.2 Lack of trained professionals
5.2 DRO – Impact Analysis
5.3 Key Stakeholders
6 Service type: Market Size & Analysis
6.1 Overview
6.2 Discovery services
6.3 Preclinical study services
6.3.1 Pharmacokinetics/Pharmacodynamics
6.3.2 Toxicology testing
6.3.3 Others
6.4 Clinical study services
6.4.1 Phase I
6.4.2 Phase II
6.4.3 Phase III
6.4.4 Phase IV
6.5 Others
7 Therapeutic indication: Market Size & Analysis
7.1 Overview
7.2 Oncology
7.3 Respiratory disease
7.4 CNS disorder
7.5 Infectious disease
7.6 Cardiovascular disease
7.7 Immunological disorder
7.8 Diabetes
7.9 Others
8 Regions: Market Size and Analysis
8.1 Overview
8.2 North America
8.3 Europe
8.4 Asia Pacific
8.5 Rest of the World
9 Competitive Landscape
9.1 Overview
10 Vendor Profiles
- Charles River Laboratories, Inc.
- Laboratory Corporation of America Holdings (LABCORP)
- IQVIA HOLDINGS INC.
- Pharmaceutical Product Development Inc
- ICON PLC
- PAREXEL International Corporation
11 Companies to Watch for
- PRA HEALTH SCIENCES, INC.
- Syneos Health Inc
- WuXi AppTec
- Medpace Holdings, Inc.
- SGS SA
- Envigo
- EPS INTERNATIONAL
- EVOTEC AG
- GenScript Biotech Corporation
- Eurofins Scientific
For more information about this report visit https://www.researchandmarkets.com/research/w5qlq6/contract_research?w=12
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Related Topics: Biotechnology, Drug Discovery
