Healthcare Contract Research Outsourcing Market Overview :
Global Healthcare Contract Research Outsourcing Market is estimated to reach $58.9 billion by 2025; growing at a CAGR of 6.9% from 2017 to 2025. Healthcare contract research outsourcing provides support to the biotechnology, pharmaceutical and medical device industries in the form of research services outsourced. CRO might deliver such services as biologic assay development, clinical trials management, biopharmaceutical development, clinical research commercialization, preclinical research and pharmacovigilance. Healthcare companies frequently outsource drug development purposes to contract research organizations to efficiently use the development capabilities worldwide. The clinical, therapeutic and regulatory proficiency of CROs supports to improve the complete rate of development and accelerate time to market for a new product. CROs have become larger and enormously more diversified across numerous therapeutic functions and areas, increasing their penetration.
The major factors boosting the growth of healthcare contract research outsourcing market are increasing outsourcing activities to save time and cost, increasing number of clinical trials and increasing R&D expenditure. In addition, government organizations assigning projects to the CROs are also supporting the market growth. However, intense competition in the CRO services market and lack of skilled professionals are the restrain that may hamper the market. Moreover, increasing demand for specialized testing services and increase in funding of small to midsized pharmaceutical, biotechnology, and medical devices companies are expected to present potential growth opportunities over the forecast timeframe.
The global healthcare contract research outsourcing market is segmented on the basis of service, therapeutic area, end user and geography. Service segment is classified into regulatory service, medical writing, pharmacovigilance, site management protocol, clinical trial service, clinical data management & biometrics and other services. Therapeutic area is categorized into respiratory, infectious diseases, oncology/hematology, immunology, rare diseases, CNS, CV/metabolic, medical devices and other therapeutic area. Further, end user is bifurcated into biotechnology companies, medical device companies, pharmaceutical companies and academic institutes & government organizations.
Based on geography, global healthcare contract research outsourcing market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated into U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
The key market players include Charles River, Laboratory Corporation of America Holdings, IQVIA, Medpace, Pharmaceutical Product Development, LLC, Syneos Health, PAREXEL International Corporation, ICON plc, PRA Health Sciences, and Envigo, among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Healthcare Contract Research Outsourcing Market with respect to major segments such as service, therapeutic area, and end user
- The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Healthcare Contract Research Outsourcing Market has been included in the report
- Profile of the key players in the Global Healthcare Contract Research Outsourcing Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Healthcare Contract Research Outsourcing Market
- Regulatory Service
- Medical Writing
- Site Management Protocol
- Clinical Trial Service
- Clinical Data Management & Biometrics
- Other Services
Therapeutic Area Segments
- Infectious Diseases
- Rare Diseases
- Medical Devices
- Other Therapeutic Areas
End User Segments
- Biotechnology Companies
- Medical Device Companies
- Pharmaceutical Companies
- academic institutes & government organizations
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South America
- Middle East