Contract Research Organization (CROs) Services Market worth $115.1 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, March 22, 2022 /PRNewswire/ -- According to the new market research report "Contract Research Organization (CROs) Services Market by Type (Early phase, Clinical, Lab, Consulting), Therapeutic Area (Oncology, Infectious Disease, Neurology, Immunology, Hematology, Vaccines), End User - Global Forecast to 2027", published by MarketsandMarkets™, the global CRO Services Market is estimated to grow from USD 115.1 billion by 2027 from USD 68.3 billion in 2022, at a CAGR of 11.0 % during the forecast period.

Browse in-depth TOC on "Contract Research Organization (CROs) Services Market"
489 – Tables
65 – Figures
427 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=167410116

The Growth in the CRO services market can mainly be attributed to factors such as the increasing investment in pharmaceutical R&D, rising number of clinical trials, high cost of in-house drug development (encouraging pharma-biotech companies to opt for outsourcing), and the rising prevalence of orphan and rare diseases (creating new revenue pockets for CROs). Growth in the drugs and biologics market despite the COVID-19 pandemic, the increasing demand for specialized testing services among end users, and the need for novel clinical trial designs for complex cell and gene therapies are also expected to offer a wide range of growth opportunities to players operating in this market.

The clinical research services subsegment accounted for the largest share of the type segment in the CRO services market in 2021.

Based on type, the Contract Research Organization Services Market is segmented into clinical research services, early-phase development services, laboratory services, consulting services, and data management services. The clinical research services segment accounted for the largest share of this market in 2021. The large share of this segment can primarily be attributed to factors such as the increasing R&D of new drugs and the high cost of clinical trials.  

The oncology subsegment accounted for the largest share of the therapeutic area segment in the CRO services market in 2021. 

Based on therapeutic area, the Contract Research Organization (CROs) Services Market is segmented into oncology, infectious diseases, neurology, vaccines, cardiovascular system (CVS) disorders, metabolic disorders/endocrinology, immunological disorders, respiratory disorders, psychiatry, dermatology, hematology, ophthalmology, gastrointestinal diseases, genitourinary & women's health, and other therapeutic areas. The oncology segment accounted for the largest share of the global Contract Research Organization Services Market in 2021. The large share of this segment is primarily attributed to the increasing number of drug discovery activities for oncology and the rising prevalence of cancer worldwide.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=167410116

The Asia Pacific region is the fastest-growing region of the CRO services market in 2021.

Based on the region The global Contract Research Organization (CROs) Services Market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The market in the Asia Pacific is estimated to record the highest CAGR during the forecast period. This can be attributed to the fast-growing pharmaceutical industry in the region, favorable government policies, increasing number of pharmaceutical companies establishing their manufacturing facilities in the region, and the lower cost of clinical trials in the region.

Key players in the Contract Research Organization Services Market include IQVIA Inc. (US), Laboratory Corporation of America Holdings (US), PPD, Inc. (Now a part of Thermo Fisher Scientific Inc.) (US), ICON plc (Ireland), Syneos Health, Inc. (US), Parexel International Corporation (US), and Charles River Laboratories International Inc. (US)

Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=167410116

Browse Adjacent Markets: Pharmaceuticals Market Research Reports & Consulting

Browse Related Reports:

Drug Discovery Services Market by Process (Target Selection, Validation, Lead Optimization), Type (Medicinal Chemistry, DMPK), Drug Type (Biologics, Small Molecules), Therapeutic (Oncology, Neurology), Company (Tier 1, 2, 3) - Global Forecast to 2025

https://www.marketsandmarkets.com/Market-Reports/drug-discovery-services-market-138732129.html

Clinical Trial Supplies Market by Services (Manufacturing, Packaging, Logistics, Distribution), Phases (I to IV), Type (Small molecule, Biologics, Medical Devices) Therapeutic Areas (Oncology, CNS, CVD, Infectious, Immunology) - Global Forecast 2026

https://www.marketsandmarkets.com/Market-Reports/clinical-trial-supplies-market-172240059.html

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/contract-research-organization-service-market.asp 
Visit Our Web Site: https://www.marketsandmarkets.com 
Content Source:  https://www.marketsandmarkets.com/PressReleases/contract-research-organization-service.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg