Market Research Report
Global Contract Research Organisations (CROs) Market Report Forecasts 2020-2030: Forecasts & Analysis by Service, by Application, by End-User, including Forecasts by Major Regions and Countries, plus Profiles of Leading Companies in the Market
|Published by||Visiongain Ltd||Product code||933200|
|Published||Content info||215 Pages
Delivery time: 1-2 business days
|Global Contract Research Organisations (CROs) Market Report Forecasts 2020-2030: Forecasts & Analysis by Service, by Application, by End-User, including Forecasts by Major Regions and Countries, plus Profiles of Leading Companies in the Market|
|Published: February 12, 2020||Content info: 215 Pages||
The new report from business intelligence provider Visiongain offers an updated outlook for the global clinical research organizations (CROs) market. Visiongain assesses that the clinical research organizations (CROs) market will generate revenues of $38.0 billion in 2020. Contract research organizations (CROs) have become essential to pharmaceutical, biotech and other medical-related industries by supporting their clients' efforts to test, refine and market the latest pharmaceuticals and medical devices through clinical trials.
The global CRO market value has grown by nearly a 9.5% compound annual growth rate (CAGR) over the past several years and is expected to reach $38 billion in 2020 and $94 billion by 2030, as specialized demand, patent expiration and proliferation of generic medications are all leading to greater outsourcing of work to CROs. Also driving the trend toward CRO outsourcing is pharmaceutical companies' (pharma companies') increasing need to reduce clinical trial costs and improve efficiencies. This in turn is increasing time-to-market urgencies for pharma companies while also leading to pricing pressures and greater margin awareness. Pharmaceutical companies are focusing on niche sector CROs to expand their knowledgebase in highly complex trial areas, and functional service provider (FSP) contracts are allowing them the ability to outsource individual services rather than entire studies or projects. This integrated Pharma-CRO partnership leads to efficiency gains and is often desirable for studies of high complexity, tight time constraints and/or broader scope.
Strong demand and increased competitiveness are facilitating mergers and partnerships to enhance larger companies' full-service capabilities and international reach. Recovery of capital markets and strong revenue potential are boosting CRO valuations, which is also increasing merger and acquisition (M&A) activity and public offerings in the industry.
CROs are benefiting from top-line growth among deep-pocketed pharmaceutical companies in addition to several drivers specific to current industry trends. Pharmaceutical companies are bringing a record number of drugs to market in a more time-sensitive and competitive environment. As acceleration of time-to-market and increased cost-effectiveness have become critical, CROs are capitalizing on their expertise in specific areas of the clinical research process.
Pharma pipelines are currently ripe with new-age, complex therapies that are nearing market readiness. Regenerative cell-based therapies, chimeric antigen receptor (CAR)-modified T cell therapy (CAR-T), immune-oncology combinations and innovative autoimmune therapies are just some of the new fields being studied in clinical trials across the globe. More adept use of data and analytics by pharma and CROs is leading to more appropriate patient trial selection and more adaptive trial designs. Adaptive design studies, risk-based monitoring and other flexible approaches can reduce costs while allowing adaptions as studies progress. These trends mitigate risks for pharma companies and patient pools while facilitating the pursuit of more potential therapies and enhancing the drug discovery pipeline. Correspondingly, patient receptiveness is at an all-time high. These factors are all contributing to the rapid proliferation of clinical trials in the U.S. and throughout the globe.
Read on to discover how you can exploit the future business opportunities emerging in the clinical research organizations (CROs) sector. Visiongain's new study tells you and tells you NOW.
In this brand-new report, you will receive 214 in-depth tables, charts and graphs - all unavailable elsewhere.
The 215-page report provides clear detailed insight into the global clinical research organizations (CROs) market. It reveals the key drivers and challenges affecting the market.
By ordering and reading our brand-new report today you will be better informed and ready to act.
Profiles and competitive positioning map of the leading 10 clinical research organizations (CROs) companies:
Visiongain's study is intended for anyone requiring commercial analyses for the clinical research organizations (CROs) market and leading companies. You will find data, trends and predictions.
Buy our report today Global Contract Research Organisations (CROs) Market Report Forecasts 2020-2030: Forecasts & Analysis by Service, by Application, by End-User Including Forecasts by Major Regions and Countries, Plus Profiles of Leading Companies in the Market. Avoid missing out by staying informed - order our report now.
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