seobhushan (13)

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Contract Research Organization (CRO) Market is
projected to reach CAGR 7.8 by 2027
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Key Insights from Contract Research Organization
(CRO) Market

• The contract research organization (CRO) industry
  is poised to record significant proceeds through
  the ensuing years, due to a rise in research and
  development expenditure at the global level. The
  highest RD expenses are registered in the
  biopharmaceutical and pharmaceutical industries.
• The contract research organization (CRO) market
  is further driven by an increase in investments
  in research and development activities in the
  areas of gastroenterology hepatology. The
  segment is set to record a value of USD 3 billion
  of the overall market share by 2027.
• This revenue is attributed to the rising focus of
  various types of contract research organizations
  on clinical trial development in the sector of
  gastroenterology hepatology. Increasing
  incidences of chronic hepatology disorders
  comprising cirrhosis and hepatitis-A at the
  global level are expected to augment the new drug
  development process for the treatment of these
  disorders, bolstering contract research
  organization (CRO) industry outlook through the
  forecasted period.

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Regional Insights in Contract Research
Organization (CRO) Market

• Speaking of which, there is a considerable rise
  in number of clinical trials as well as RD
  initiatives, emergence of severe diseases, and a
  huge patient pool in Asia Pacific. In fact, the
  regional contract research organization market
  size is estimated to grow at a substantial CAGR
  of 9.1 between 2021 and 2027.
• In addition, governments of numerous countries in
  the Asia Pacific are showing a keen interest in
  the provision of funding for drug discovery and
  associated research studies. Further, the region
  has also recorded a remarkable shift in
  biotechnology firms, which has been instrumental
  in impelling the growth of contract research
  organization (CRO) industry.
• To add on, amid the COVID-19 pandemic, a spike in
  the number of SARS-CoV-2 cases has been
  responsible for attracting CROs for conducting
  trials to fast-track procedures and take
  advantage of the huge patient population, thereby
  propelling Asia Pacific CRO market growth through
  2027.

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Latest Research Report On Contract Research
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5
Major Companies in Contract Research Organization
(CRO) Market

• Laboratory Corporation of America Holdings
• IQVIA
• Pharmaceutical Product Development
• PRA Health Science
• PAREXEL International
• Syneos Health

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Industry Coverage

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