North American Contract Research Organization Market Outlook - Industry Statistics Analysis By 2027

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North American Contract Research Organization
Market is predicted to witness over 6.3 CAGR by
2028
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• North American Contract Research Organization
  Market To Hit USD 34.2 Bn By 2028. North American
  contract research organization (CRO) market is
  taking the centerstage across the regions
  healthcare sector as these services can create a
  more patient-centric approach to clinical trials.
  Many pharmaceutical companies are availing the
  services of CROs to enhance the productivity of
  the drug development process and decrease the
  overall cost of research and development efforts.
  
• Since clinical research trials can take a minimum
  of 6-7 years to complete, organizations opt for
  CROs to outsource the RD process and help them
  concentrate on other core activities. as clinical
  research trials are experiencing digitization to
  improve their efficiency and quality of the final
  product.
• Laboratory services gain traction to combat
  chronic diseases
• Laboratory services captured 12 of North America
  CRO market share in 2021. These services offer
  analytical and bioanalytical testing solutions to
  treat a wide range of life-threatening diseases,
  such as cardiovascular ailments and diabetes. As
  per the CDC, around 659,000 U.S. citizens die
  from heart-related diseases every year.
• This scenario has urged companies to come up with
  innovative methods to test their new medicines
  and are partnering with other firms to introduce
  innovative testing technologies. Such efforts
  will boost the demand for laboratory services
  among end-users.

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• Canada CRO market share shows promising growth
• Canada CRO market value is estimated to reach
  4.24 billion by 2028 due to the heavy research
  efforts put in by the countrys healthcare
  sector. One of the most important factors that is
  responsible for the consistent expansion of this
  market is the growing awareness of the importance
  and advantages of early diagnosis and treatment
  among citizens.
• The high disposable income of the population has
  played a vital role in improving their
  accessibility to advanced medical facilities to
  treat a variety of ailments.
• It has also helped pharma and biopharma companies
  upscale their investments to develop innovative
  solutions and improve the outcome of clinical
  trials. Moreover, the favorable government
  policies and approval from regulatory authorities
  will drive the adoption of CRO services across
  Canada.
• U.S. contract research organization (CRO)
  industry value will grow at a commendable rate in
  the future as the regions healthcare sector is
  rapidly expanding, which has accelerated the need
  for innovative and large-scale clinical trials.
  Clinipace, Charles River Laboratories, CMIC
  Holding Co., LTD, IQVIA, ICON plc, and Medpace,
  among several others, are eminent CROs of the
  region.
• These companies are providing early phase
  development, preclinical clinical research,
  laboratory, and consulting services to
  pharmaceutical biopharmaceutical firms,
  academic institutes, and medical device
  organizations. These services will be utilized in
  ophthalmology, cardiology, clinical pharmacology,
  infectious disease, neurology, and
  gastroenterology hepatology therapeutic areas.

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Segments of North America Contract Research
Organization (CRO) Market

• North America Market, By Therapeutic Area
• Oncology
• Clinical pharmacology
• Cardiology
• Infectious disease
• Neurology
• Gastroenterology Hepatology
• Ophthalmology
• Others
• North America Market, By End-use
• Pharmaceutical Biopharmaceutical Companies
• Medical Device Companies
• Academic Institutes

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