A Contract Research Organization (CRO) is a service
provider, which offers end-to-end solutions in conducting clinical trials for
biopharmaceutical and medical device companies. The core services offered by
CROs to biopharmaceutical companies include initial drug discovery solutions,
toxicology studies, bio-analytical services, central laboratory, site
monitoring, data management services, vigilance, bio-statistics, study and
development program design and consulting, regulatory affairs and a variety of
post-marketing surveillance services.
Order TBRC’s CRO
research report at
Pharmaceutical and biopharmaceutical companies have been
researching new biologics for chronic ailments, which has been driving the CRO industry.
New and emerging biotechnology companies
often lack the resources and
infrastructure to carry out extensive clinical trials.
CRO Market Share
The global CRO market is expected to grow from $44.4 billion
in 2017 to $70.2 billion by 2021.
North America was the largest region in the global CRO
market, with a 40% share of the market. This was mainly due to the presence of
a large number of pharmaceutical companies and large drug development pipeline
in the region.
Asia-Pacific had the highest CAGR
(compound annual growth rate) of 15% during 2013 – 2017; this region is expected
to grow at a CAGR of 17% during 2017 – 2021. This was due to the presence of
fastest growing economies, increasing health care expenditure, growing patient
population and
favorable regulatory policies.
Download the CRO market report at
The CRO production in China is the
largest and is worth around $8.5 billion, accounting nearly 20% of the global
CRO production, while the CRO consumption in China accounts for around 11% of
the global CRO consumption. The discrepancy between consumption and production
can be attributed to the favorable drug development policies in the country.
Many global companies are outsourcing R&D services to CROs in China due to
factors such as has low-production costs, sound infrastructure for research and
development along with skilled labor force.
Drug discovery was the largest
segment in the Asia-Pacific CRO market, with 30% share
of the market. Oncology was the largest segment in China’s CRO market, with 27% share of the market.
TBRC’s CRO
analysis report also covers contract research organization industry trends,
oncology CRO services, clinical research industry growth, and pharma
outsourcing trends.
About The
Business Research Company.
The Business Research Company is a Business Intelligence Company
which excels in company, market and consumer research. It has offices in the
UK, the US and India and a network of trained researchers in 15 countries
globally.
Contact
Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
No comments:
Post a Comment