The Fact.MR market study on the Healthcare Contract Research Organization Market provides deep dive into key developments in the Healthcare Contract Research Organization Market.
Clinical Services To Hold More Than 70% Market Share For Healthcare Contract Research Organizations
The Fact.MR market study on the Healthcare Contract Research Organization Market provides deep dive into key developments in the Healthcare Contract Research Organization Market. The report offers a comprehensive analysis of leading segments in terms of by type, and by service.
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The global sales of healthcare contract research organization garnered a market valuation of US$ 44 Bn in 2022 and is expected to register market size at a CAGR of 6% by accumulating a market valuation of US$ 79 Bn through the assessment period 2022-2032
A rise in research and development activities along with an inclination towards outsourcing activities due to time and cost constraints is expected to drive the healthcare contract research organization market.
Research and development for clinical trials and initiatives by government to cut down on the time for approval of medicines are driving the demand for healthcare contract research organizations. Thus, the sales of healthcare contract research organization are anticipated to exceed valuation of US$ 79 Bn by registering market size at a CAGR of 6% in the forecast period 2022-2032.
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Healthcare and pharmaceutical companies are not only outsourcing clinical trials but also production of medicines. Thus, with a rise in clinical trial privatization, outsourcing to developing countries has been observed.
The growing number of clinical trials & the need to monitor those studies are creating demand for these services. Moreover, real-time data acquisition related to drug safety and toxicity allows early identification of trial errors and enables timely rectifications.
Many healthcare contract research organizations are focusing on enhancing their global research network to provide better services to their customers. Thus, demand for healthcare contract research organizations is anticipated to surge.
| Report Attributes | Details |
| Market Size Value in 2022 | US$ 44 Bn |
| Project Market Forecast Value in 2032 | US$ 79 Bn |
| Global Growth Rate (2022-2032) | 6% |
Key takeaways:
- Asia Pacific is expected to hold more than 40% market share for healthcare contract research organizations.
- North America is anticipated to capture more than 25% for healthcare contract research organization market share.
- Clinical services are anticipated to garner more than 70% market share for healthcare contract research organizations.
- Clinical monitoring is anticipated to hold more than 20% of the market share.
- By type, Phase III clinical trials are the most expensive clinical trials. Moreover, 90% of the expenses occur during the clinical development from this phase.
Growth Drivers:
- Research and development for clinical trials and initiatives by government to cut down on the time for approval of medicines are driving the demand for healthcare contract research organizations.
- An increase in the pressure on drug developers related to clinical data management, stringent safety standards and regulatory environments are expected to positively influence the demand for Contract Research Organization within the market.
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Competitive Landscape:
The competitive landscape of the Healthcare Contract Research Organization Market focuses on enhancing their global research network to provide better services to their customers.
- In January 2022, Charles River Laboratories International Inc. and Valo Health LLC announced a multi-year strategic partnership to transform drug discovery and development process by using human-centric data and computation powered by AI
- In October 2021, Syneos Health announced the acquisition of RxDataScience.
Key Companies Profiled by Fact.MR
- Charles River Laboratories (CRL)
- Syneos Health
- Pharmaceutical Product Development, LLC (PPD)
- PAREXEL INTERNATIONAL CORPORATION
- IQVIA HOLDINGS INC.
More valuable insights on the Healthcare Contract Research Organization Market:
Fact.MR, in its report, offers a market analysis of the global Healthcare Contract Research Organization Market the forecast period through 2022 and beyond. This survey reveals the growth of health area in the Healthcare Contract Research Organization Market with detailed segmentation as follows
- By Type:
- Pre-Clinical Healthcare Contract Research Organization
- Healthcare Contract Research Organization for Drug Discovery
- Lead Identification
- Target Validation
- Lead Optimization
- Clinical Healthcare Contraction Research Organization
- Phase I Trial Services
- Phase II Trial Services
- Phase III Trial Services
- Phase IV Trial Services
- Full Healthcare Contract Research Organization
- By Service:
- Healthcare CRO for Project Management/Clinical Supply Management
- Healthcare CRO for Quality Management/ Assurance
- Healthcare CRO for Bio-statistics
- Healthcare CRO for Regulatory/Medical Affairs
- Healthcare CRO for Medical Writing
- Healthcare CRO for Investigator Payments
- Healthcare CRO Services for Laboratory
- Healthcare CRO for Data Management
- Healthcare CRO for Clinical Monitoring
- Healthcare CRO for Patient and Site Recruitment
- Healthcare CRO for Technology
- Healthcare CRO for Other Services
Key Questions covered in the Healthcare Contract Research Organization Market Report
- How much is the healthcare contract research organization industry expected to be worth?
- What was the market worth of the market for healthcare contract research organization in 2021?
- At what rate will the healthcare contract research organization industry grow from 2022-2032?
- At what rate did the market for healthcare contract research organization flourish from 2015-2021?
- How much is the healthcare contract research organization market like to be valued by 2032?
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