PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1212754
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1212754
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The global CRO services market is estimated to grow at a CAGR of 10.7% during the forecast period. Growth in the CRO services market can mainly be attributed to factors such as the increasing investment in pharmaceutical R&D, the rising number of clinical trials, high cost of in-house drug development, which in turn is encouraging pharma-biotech companies to opt for outsourcing.
"The data management services segment accounted for the highest growth rate in the CRO services market, by type, during the forecast period"
In 2022, the data management services segment accounted for the highest growth rate. The data management services segment is projected to grow at the highest CAGR owing to the factors such as the need to generate quality data for analysis and significance of data to meet the regulatory standards. Data management is gaining importance due to its role in the streamlined and uninterrupted development of drugs and medical devices.
"Asia Pacific: The fastest-growing region in the CRO services market"
The Asia Pacific market is estimated to record the highest CAGR during the forecast period. This is attributed to the rapid growth in the pharmaceutical and biopharmaceutical industries in the region and the relatively low cost of conducting clinical trials.
This report provides a detailed picture of the global Contract Research Organization (CRO) Services Market. It aims at estimating the size and future growth potential of the market across different segments such as the service type, therapeutic area, end user and region. The report also includes an in-depth competitive analysis of the key market players along with their company profiles recent developments and key market strategies.
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall Contract Research Organization (CROs) Services Market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, challenges, trends, and opportunities.