Organization activities

Global Healthcare Contract Research Organizations Market Report 2022: Rising Cost of Drug Development Drives Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Healthcare Contract Research Organization Market Size, Share and Trend Analysis Report by Type (Drug Discovery, Preclinical, Clinical), by Service (Clinical Monitoring, Management data), by region and segment forecast, 2022-2030″ the report has been added to from ResearchAndMarkets.com offer.

The global healthcare contract research organization market size is expected to reach USD 74.7 billion by 2030. The market is expected to grow at a CAGR of 6.5% from 2022 to 2030. The growing cost of drug development is expected to drive the market demand over the forecast. period. Additionally, rising clinical trial costs and patient recruitment challenges have led biopharmaceutical companies to look to regions such as Central and Eastern Europe, Asia-Pacific, Latin America and the Middle East to save money and recruit patients quickly.

Additionally, the growing pressure on industry players to meet strict deadlines has increased the demand for outsourcing research activities to CROs. Some government organizations also outsource their clinical trial activities in order to be able to conduct clinical trials with the required infrastructure and expertise and to minimize their costs and delays. The CRO market has been temporarily affected by the ongoing pandemic as it has resulted in the closure of clinical trial sites.

However, due to the high demand for treatments, clinical trial sites have been reopened with certain measures and precautions to prevent the spread of the virus. Additionally, the global focus on the search for a coronavirus vaccine has had a significant impact on the development of vaccines and drugs against COVID-19. This should have a positive impact on the market. Due to the pandemic, players in the CRO market have built powerful tools to support virtual clinical trials, in order to support trial sponsors. Such actions are likely to enhance market growth.

Healthcare Contract Research Organization Market Report Highlights

  • Based on type, the clinical segment dominated the market in 2021, with the largest share of 76.4%, owing to the fact that it comprises four elaborate phases, including human subjects. The significant demand for new treatments further contributed to the growth of the segment.

  • Among services, the clinical monitoring segment was the largest in terms of market share and revenue in 2021.

  • North America held a significant market share of 25.3% in 2021 owing to the presence of several global players, who invest a large portion of their revenue in research activities.

  • In Asia-Pacific, the market is expected to witness a lucrative growth of 8.0% over the forecast period owing to the lower cost it offers compared to the United States and other developed economies.

  • China, Japan, and India are expected to experience tremendous market growth over the forecast period due to the high prevalence of diseases in these countries.

Main topics covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Healthcare CRO Market: Variables, Trends and Scope

Chapter 4 Healthcare CRO Market: Segment by Stage Analysis

Chapter 5 Healthcare CRO Market: Service Segment Analysis

Chapter 6 Healthcare CRO Market: Service Segment Analysis

Chapter 7 Company Profiles

Companies cited

  • IQVIA INVESTMENTS INC.

  • Covance Inc.

  • Pharmaceutical Product Development, LLC (PPD)

  • PAREXEL INTERNATIONAL CORPORATION

  • CHARLES RIVER INTERNATIONAL LABORATORIES, INC.

  • ICON, plc

  • Medidata Solutions, Inc.

  • Syneos Health

  • Pharmaron

  • GVK Organic

For more information about this report visit https://www.researchandmarkets.com/r/3zp0l6