The global contract research organization (CRO) services market size was valued at USD 38,396.4 Million in 2018 and is projected to reach USD 90,926.3 Million by the end of 2026, exhibiting a CAGR of 11.4% in the forecast period (2019-2026).
What is the scope of the contract research organization market? Based on service type, the contract research organization market is segmented into early phase development services, clinical research services, laboratory services and regulatory consulting services.
What is the forecast period of contract research organization (CRO) services market? The global contract research organization (CRO) services market grew at a CAGR of around 8% during 2015-2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during 2021-2026.
What is the forecast period of clinical research services market research report? Clinical research services segment accounted for over USD 30.9 billion market revenue in 2021 and is estimated to register a lucrative growth of 6.8% over the forecast period. The clinical research services are further sub segmented into Phase I, Phase II, Phase III, Phase IV.
What are the reasons for the growth of contract research industry? The segmental growth is attributed to the increasing prevalence of chronic diseases and increasing demand for effective medications and diagnostics products. Furthermore, various contract research organizations offer wide range of clinical trial research services and support different areas of medical device and drug development.
What is the scope of the contract research organization market?
What is the contract research organization market report? The contract research organization market report covers the companies involved in contract-based research, development, and consulting services in the healthcare industry. Contract research organizations offer several services, including regulatory submission, clinical operations, data management, biostatistics, and quality assurance.
What are the benefits of contract research organizations? Contract research organizations support the pharmaceutical, biotechnology, and medical device industries. The market growth can be attributed to the growing R&D expenditure, increased outsourcing of R&D activities, and a rising number of clinical trials.
What is a contract research organization (CRO)? Contract research organization (CRO) provide clinical trial and other research support services for the pharmaceutical, biotechnology, medical device industries and also serve government institutions, foundations and universities.
What factors are driving contract research organization market revenue growth? Increasing number of clinical trials across the globe, increasing incidence of chronic illnesses, and rising number of drug development projects are some of the key factors driving contract research organization market revenue growth.