Contract Research Organizations (CROs) Services Market

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MarketsandMarkets Presents

• Contract Research Organizations (CROs) Services
  Market

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The global contract research organizations
services market is estimated to grow at a CAGR of
7.4 from 2016 to 2021 to reach USD 41.86 Billion
by 2021. Growing RD expenditure, increased
outsourcing of RD activities, growing demand for
outsourcing analytical testing and clinical trial
services, and increase in the number of clinical
trials are expected to propel the growth of this
market. However, increasing regulatory pressure
on CROs can hinder their market growth to a
certain extent. In this report, the global
contract research organizations services market
is segmented on the basis of services,
therapeutic area, end user, and region. On the
basis of services, the market is segmented into
early-phase development services, clinical
research services, laboratory services, and
consulting services. The clinical research
services accounted for the largest share of the
CRO services market in 2015, owing to growing
number of biosimilars and biologics by
pharmaceutical and biopharmaceutical companies,
increase in RD activities, and growing number of
clinical trials.
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http//www.marketsandmarkets.com/Market-Repor
ts/contract-research-organization-service-market-1
67410116.html Based on therapeutic area, the
CRO services market is segmented into oncology,
central nervous system, cardiovascular,
respiratory, diabetes, and other therapeutic
areas. Similarly, on the basis of end user, the
market is segmented into pharmaceutical and
biopharmaceutical companies, medical device
companies, and academic institutes.
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Geographically, the global CRO services market is
segmented into North America, Europe,
Asia-Pacific, and the Rest of the World. In 2015,
North America commanded a major share of the
global contract research organizations services
market. Factors such as high quality standards in
the pharmaceutical industry, rapid growth in the
biosimilars and biologics market, rising demand
for outsourcing of services by pharmaceutical and
biopharmaceutical companies, and increase in
clinical trial activities in this region are
contributing to the large share of North America.
Some of the prominent players in the global
contract research organizations services market
include Quintiles Transnational Holdings Inc.
(U.S.), Laboratory Corporation Of America
Holdings (U.S.), Pharmaceutical Product
Development, LLC (U.S.), PAREXEL International
Corporation (U.S.), ICON Plc (Ireland), PRA
Health Sciences, Inc. (U.S.), InVentiv Health
Inc. (U.S.), Charles River Laboratories
International Inc. (U.S.), INC Research Holdings
Inc. (U.S.), and Wuxi PharmaTech (Cayman) Inc.
(China).
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