NEW YORK, April 3, 2018 /PRNewswire/ -- A Contract Research Organization (CRO) is a service provider, which offers end-to-end solutions in conducting clinical trials for biopharmaceutical and medical device companies.The core services offered by CROs to biopharmaceutical companies include initial drug discovery solutions, toxicology studies, bio-analytical services, central laboratory, site monitoring, data management services, vigilance, bio-statistics, study and development program design and consulting, regulatory affairs and a variety of post-marketing surveillance services.Read the full report: https://www.reportlinker.com/p03870307
Many pharmaceutical companies often outsource their R&D activities to CROs and is expected that these companies will increase their outsourcing activities for drug development process to CROs in future.The North America CRO market is the largest in the world. It currently has about 43.4% share of the global CRO market. This was mainly due to the presence of a large number of pharmaceutical companies and large drug development pipeline in the region. The CRO market in Asia-Pacific is the second largest in the world; it currently has about 29% of the global CRO market.By service type, drug discovery was the largest segment in 2017, which accounted for about 33.5% of the CRO market. By therapeurtical area, oncology was the largest segment in 2017, which accounted for about 25.1% of the CRO market.Pharmaceutical and biotechnology companies have been encountered with the major task of minimizing their drug costs which had forced most of them to evaluate cost saving options such as outsourcing.Several companies in this sector have already adopted this strategy to outsource their processes to specialist service providers such as CROs.This strategy will help the players to free up their in-house resources for other crucial projects and bring about improved efficiency in terms of timelines, regulatory norms and costs.Contract research Organizations are increasingly incorporating real world evidence in their clinical studies.Real world evidence (RWE) is the data collected from sources outside clinical trials, including the monitoring of social media, mobile and wearable health tracking devices and electronic medical records.These insights from patients can better help CROs tailor clinical protocols to apply to real world circumstances. According to the Tufts Center for the Study of Drug Development, large pharmaceutical, biotechnology and CROs plan to increase staff for collection and analysis of real world data by 25% between 2017 and 2020The global CRO market is highly fragmented with a number of small and large companies. IQVIA was the largest player in the global CRO market with 12.4% share, followed by Laboratory Corporation of America Holdings, ICON Plc, PAREXEL and PPD.Reasons to Purchase• Outperform competitors using accurate up to date demand-side dynamics information.• Identify growth segments for investment.• Facilitate decision making on the basis of historic and forecast data and the drivers and restraints on the market.• Create regional and country strategies on the basis of local data and analysis.• Stay abreast of the latest customer and market research findings• Benchmark performance against key competitors.• Develop strategies based on likely future developments.• Utilize the relationships between key data sets for superior strategizing.• Suitable for supporting your internal and external presentations with reliable high quality data and analysis• Gain a global perspective on the development of the market.DescriptionWhere is the largest and fastest growing market for CRO? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The CRO global market report from the Business Research Company answers all these questions and many more.The report covers market characteristics, size and growth, porters five force model, segmentation, regional and country breakdowns, competitive landscape, market shares, customer information, key mergers and acqisitions, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.• The market characteristics section of the report defines and explains the market.• The market size section gives the market size ($b) covering both the historic growth of the market and forecasting the future. The section also gives the production data of CRO market for the historic period. Drivers and restraints cover the external factors supporting and controlling the growth of the market.• Porters five force model covers the threat of new entrants, threat of substitutes, bargaining power of buyers, bargaining power of suppliers and industry competition for the CRO market.• Market segmentation by service breaks down the market into sub markets. By service type, the market is segmented into drug discovery, preclinical studies, phase 1, phase 2, phase 3 ,phase 4, others . Market segmentation is also done by type of therapeutic area, which includes oncology, cardiovascular disease, CNS disorder, infectious disease, metabolic disease and others. The historic and forecast growth rates for these segments are also covered in this report.• The regional and country breakdown section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers all the regions, key developed countries and major emerging markets.• The competitive landscape section gives a description of the competitive nature of the market, market shares, and a description of the leading companies in terms of their offerings, growth strategy and financial performance.• The customer information section covers major surveys conducted on the global CRO market and their implications.• The report also covers key mergers and acquisitions in the CRO market. Key financial deals which have shaped the market in recent years are identified.• The trends and strategies section highlights the likely future developments in the market and suggests approaches companies can take to exploit this.ScopeMarkets covered: 1) By Type of Services - drug discovery, preclinical studies, phase 1, phase 2, phase 3 ,phase 4 and others 2) By Therapeutic Area - oncology, cardiovascular disease, CNS disorder, infectious disease, metabolic disease and othersCompanies mentioned: IQVIA, Laboratory Corporation of America Holdings, ICON Plc , PAREXEL and PPD.Countries: USA, UK, Germany, France, Italy, Spain, Russia, Brazil, Australia, China, India, JapanRegions: Asia-Pacific, North America, South America, Western Europe, Eastern Europe, Middle East & Africa.Time series: Five years historic and forecast.Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.Read the full report: https://www.reportlinker.com/p03870307
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