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Global Contract Research Organization (CRO) Market, Forecast to 2024
Global Contract Research Organization (CRO) Market, Forecast to 2024
Increased Technology Adoption in the Form of eClinical Solutions and Innovative Trial Designs is Expected to Transform the CRO Landscape
27-Nov-2019
North America
$4,950.00
Special Price $3,712.50 save 25 %
Description
Increased technology adoption in the form of eClinical solutions and innovative trial designs is expected to transform the CRO landscape.
Owing to a constantly changing pharmaceutical landscape, the industry is expected to witness a moderate 4% to 5% growth in the next 5 to 7 years, to surpass $1.5 trillion by 2025. In coordination with the industry growth, market participants are investing about 8% to 10% of their revenues toward drug discovery and development. With an overall R&D investment of approximately $170 billion in 2018, the industry is working toward developing new and innovative curative therapies (e.g., regenerative medicine).
As a result of a higher R&D activity, there is higher reliance on outsourcing partners (e.g., CRO vendors) that support pharma and biotech participants with cost-effective and time-efficient drug development services. The global CRO industry is a highly fragmented and competitive market, with more than 1,000 participants globally. Europe is emerging as a key location for clinical research, with several small-to-mid segment niche CROs focusing on the region and, hence, propelling growth. Moreover, with APAC providing cheaper but effective alternatives for drug development, several big pharma companies are collaborating with participants in the region, thereby, making it the strongest growing region across the CRO industry. A highly fragmented market is a result of numerous small-to-mid segment participants focused on either a specific therapy area or specific service segment. This, in turn, is propelling consolidation in the industry, with leading CROs acquiring these niche participants, thus, increasing their service portfolio and geographic span.
The global CRO market is also witnessing an increased adoption of digitization in the form of eClinical solutions, using AI and machine learning based platforms, providing opportunity for several CROs to position themselves in the segment. Several technology-focused CROs are now developing in-house expertise which is changing the global clinical trial paradigm with the implementation of adaptive, virtual, and remote clinical trials. The companies are also moving toward an embedded business model by integrating their services with that of the sponsor’s business strategy, thereby, supporting as an end-to-end solution provider.
Key Issues Addressed
- How will contract research outsourcing help in drug development by saving time and cost for manufacturers?
- What is the impact of market growth in different regions?
- Which are the dominant market participants in the CRO market and their market share contribution?
- What are the key market trends observed toward expansion of contract research organizations in drug development across key therapeutic areas?
- Do the products and services offered today meet customer needs or is additional development needed?
- What are the key segments to look out for and what are the key trends in the market?
RESEARCH: INFOGRAPHIC
This infographic presents a brief overview of the research, and highlights the key topics discussed in it.Click image to view it in full size
Table of Contents
Key Findings
Key Findings (continued)
Market Engineering Measurements
CEO’s Perspective
Executive Summary—3 Big Predictions
Scope and Segmentation
Market Segmentation—Key Sections Covered
Methodology
Key Questions to be Answered
6 Big Themes for the Global CRO Market
Market Drivers
Market Restraints
Forcefield Analysis of Drivers and Restraints
Challenges Associated With Conducting Clinical Trials
Evolution of Pharma-CRO Collaboration Models
Changing Global Clinical Trial Paradigm
Clinical Trial Patient Enrichment Strategies—Case Studies
Market Engineering Measurements
Split of Clinical Trials by Therapy Area and Region
Total CRO Market—Revenue Forecast
Total CRO Market—Revenue Forecast by Segment
Percent Revenue Share by Segment
Drug Discovery and Preclinical CRO Market—Market Engineering Measurements
Key Market Assumptions
Breakdown of Preclinical Drug Development Activities
Drug Discovery and Preclinical CRO Market—Revenue
Drug Discovery and Preclinical CRO Market—Revenue Forecast
Drug Discovery and Preclinical CRO Market—Revenue Forecast by Non-Clinical Segment
Discovery and Preclinical CRO Market—Competitive Landscape
Benefits of AI Implementation in Drug Discovery
AI Major Applications Within Drug Discovery—Use Cases
Project MELLODDY—AI and Blockchain-based Research Consortium to Accelerate Drug Discovery
Digital Marketplace for Preclinical Cancer Research
Challenges and Opportunities
Growth Opportunity—Drug Discovery IT
Global Clinical CRO Market Snapshot
Clinical CRO Market—Market Engineering Measurements
Key Market Assumptions—Clinical CRO Market
Key Market Assumptions—Clinical CRO Market (continued)
Revenue Forecast Methodology
Clinical CRO Market—Revenue Forecast
Clinical CRO Market—Revenue Forecast by Region
Clinical CRO Market—Percent Revenue Forecast by Region
Clinical CRO Market—Revenue Forecast by Region
Revenue Forecast Discussion
Clinical CRO Market—Percent Revenue Forecast by Phase of Development
Revenue Forecast by Phases Discussion
Clinical CRO Market—Percent Revenue by Therapy Area
Revenue Forecast
Revenue Forecast by Therapy Area
Revenue Forecast by Subsegment
Revenue Forecast Discussion
Market Share Analysis
Clinical CRO Companies to Watch*
Revenue Forecast
Revenue Forecast by Therapy Area
Revenue Forecast by Subsegment
Revenue Forecast Discussion
Market Share Analysis
Clinical CRO Companies to Watch
Growth Opportunity—Europe: The Next Emerging Market
Revenue Forecast
Revenue Forecast by Therapy Area
Revenue Forecast by Subsegment
Revenue Forecast Discussion
Market Share Analysis
Clinical CRO Companies to Watch*
Revenue Forecast
Revenue Forecast by Therapy Area
Revenue Forecast by Subsegments
Revenue Forecast Discussion
Market Share Analysis
Clinical CRO Companies to Watch in ROW
Total CRO Market—Global Vendor Landscape Service Mapping
Total CRO Market—Global Vendor Landscape Service Mapping (continued)
Total CRO Market—Market Share Analysis
Total CRO Market—Leading Therapy Area and CRO Mapping
Total CRO Market—Benefits of Consolidation
Total CRO Market—Drug Development Technology Specific Collaborations
Total CRO Market—Healthcare IT collaboration
Growth Opportunity—Clinical Trial Logistics
Clinical Trial Logistics and Supply Chain
Growth Opportunity—Personalized Medicine
Growth Opportunity—Medical Devices Outsourcing Services
Revenue Forecast by Subsegment
Revenue Forecast Discussion
Revenue Forecast Discussion (continued)
Bioanalytical and cGMP Testing Segments
Bioanalytical and cGMP Testing Subsegments—Overview
Bioanalytical Testing Subsegment—Revenue Forecast
Bioanalytical Testing Subsegment—Revenue by Service Type
Bioanalytical Testing Subsegment—Key Companies to Watch
cGMP Testing Subsegment—Revenue Forecast
cGMP Testing Subsegment—Revenue Break Down by Service Type
Central Laboratory Services Segment—Revenue Forecast
Central Laboratory Services Segment—Services Benchmarking by Type of Labs
Biostatistics Segment—Revenue Forecast
Effective Data Management Process
Data Management Segment—Revenue Forecast
Pharmacovigilance Segment—Revenue Forecast
HEOR Segment—Revenue Forecast
Is the Industry Undergoing Disruption?
Clinical Development Value Chain Analysis
How Digitization is Propelling Clinical Research Activities
Top 3 Trends and Vendor Strategies
What are CROs Doing?
Digitization—Where is the Opportunity?
Impact of Digitization of Clinical Trials
Digital CROs—Key Companies to Watch
Digital CROs—Key Companies to Watch* (continued)
Digital Solution Providers to CROs*
Growth Opportunity—Smart Clinical Trials to Achieve Cost Advantage
Growth Opportunity—Advancement in Remote Patient Monitoring with AI Implementation
AI—Major Applications Within Real World Evidence: Use Cases
Company-to-Watch—Adaptive Clinical
Growth Opportunity—Clinical Trial Execution with Blockchain
How Blockchain Connects the Clinical Trial Network
Macro to Micro Visioning
CRO Industry Stakeholder Landscape
Transformation in the CRO Ecosystem
7 Major Growth Opportunities in the CRO Industry
Strategic Imperatives for the Global CRO Industry
Implications for Key Industry Stakeholders
3 Big Predictions for the Global CRO Industry
Conclusion—Tracking the Opportunity
Legal Disclaimer
Abbreviations
Market Engineering Methodology
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
Related Research
Popular Topics
Key Issues Addressed
- How will contract research outsourcing help in drug development by saving time and cost for manufacturers?
- What is the impact of market growth in different regions?
- Which are the dominant market participants in the CRO market and their market share contribution?
- What are the key market trends observed toward expansion of contract research organizations in drug development across key therapeutic areas?
- Do the products and services offered today meet customer needs or is additional development needed?
- What are the key segments to look out for and what are the key trends in the market?
| No Index | No |
|---|---|
| Podcast | No |
| Author | Aarti Chitale |
| Industries | Healthcare |
| WIP Number | PA82-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9600-B1,9825-B1,9A06-B1,9571-B1,99BF-B1,99C0-B1,99C1-B1,99CB-B1,9568-B1,9611-B1 |