Contract Research Organization Services (CROs) Market Worth $73.77 Billion by 2025 - Exclusive Report by MarketsandMarkets™

News provided by

Apr 17, 2020, 10:30 ET

CHICAGO, April 17, 2020 /PRNewswire/ -- According to the new market research report "Contract Research Organization Services (CROs) Market by Type (Discovery, CMC, Preclinical, Clinical Research, Laboratory Services), Therapeutic Area (Oncology, CNS, Cardiovascular), End User (Pharmaceuticals & Medical Device) - Global Forecast to 2025", published by MarketsandMarkets™, the Contract Research Organization Services (CROs) Market is projected to reach USD 73.77 billion by 2025 from USD 47.77 billion in 2020, at a CAGR of 9.1% during the forecast period.

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=167410116

Increased outsourcing of R&D activities and increasing number of clinical trials are the major factors driving the growth of the CRO services market. The base year considered for the study is 2019, while, the forecast period is 2020 to 2025.

By type, clinical research services segment accounted for the largest share of the CRO services market in 2019

On the basis of type, clinical research services segment accounted for the largest share of the global CRO services market. This can be attributed to factors such as the growing biosimilar and biologics markets, increased R&D investments in pharmaceutical and biopharmaceutical companies, and increase in clinical trial activities.

Browse in-depth TOC on "Contract Research Organization Services (CROs) Market"

235 – Tables

52 – Figures

272 – Pages

By therapeutic area, the oncology segment held the highest growth of the CRO services market in 2019

On the basis of therapeutic area, the oncology segment accounted for the highest growth in this market. The highest growth of this segment is attributed to the increasing number of clinical trials and rising prevalence of cancer worldwide.

The medical device companies segment is expected to witness the highest growth rate in the CRO services market, by end user, during the forecast period

Based on end user, the medical device segment is expected to register the highest CAGR during the forecast period. Increasing incidence of chronic diseases, technological advancements in medical devices, and adoption of point-of-care (POC) testing are the major factors supporting the growth of this segment.

Get 10% Customization on this Research Report:

https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=167410116

North America dominated the CRO services market in 2019

North America accounted for the largest share of the CRO services market in 2019, followed by Europe and Asia Pacific. High quality standards in the pharmaceutical industry, rising demand among pharmaceutical and biopharmaceutical companies for outsourcing services, and increase in clinical trial activities in the region are the major factors responsible for the large share of North America in the CRO services market.

The prominent players in the global CRO services market are IQVIA (US), LabCorp (US), PAREXEL (US), ICON plc (Ireland), PPD (US), PRA Health Sciences (US), Syneos Health (US), Charles River (US), Wuxi PharmaTech (US), Medpace Holdings (US), and SGS (Switzerland).

Browse Adjacent Markets: Pharmaceutical Market Research Reports & Consulting

Get Special Pricing on Bundle Reports:

https://www.marketsandmarkets.com/RequestBundleReport.asp?id=167410116

Browse Related Reports:

Clinical Trial Supplies Market by Products & Services (Manufacturing, Packaging, Logistics, Distribution, Storage), Phases ( l, ll, lll, lV), Drug Type (Small Molecule, Biologics),Therapeutic Areas (Oncology, Blood Disorders) - Global Forecast to 2025

https://www.marketsandmarkets.com/Market-Reports/clinical-trial-supplies-market-172240059.html

Drug Discovery Services Market by Process (Target Selection, Validation, Lead Optimization), Type (Medicinal Chemistry, DMPK), Drug Type (Biologics, Small Molecules), Therapeutic (Oncology, Neurology), Company (Tier 1, 2, 3) - Global Forecast to 2025

https://www.marketsandmarkets.com/Market-Reports/drug-discovery-services-market-138732129.html

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/contract-research-organization-service-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/contract-research-organization-service.asp