Global Healthcare Contract Research Organizations Market 2022 Industrial Trends, Future Developments, Regional Outlook

The global healthcare contract research organizations market was valued at US$ 40,348. Mn in 2020 growing at a CAGR of 8.8% over the forecast period

PUNE, MAHARASHTRA, INDIA, March 28, 2022 /EINPresswire.com/ -- A recent market research report added to repository of Absolute Markets Insights is an in-depth analysis of Global Healthcare Contract Research Organizations Market. Based on the historic growth analysis and current scenario of Healthcare Contract Research Organizations place, the report offers actionable insights on Global market growth projections. Validated data presented in report is based on findings of extensive primary and secondary research. Insights drawn from data serve as excellent tools that facilitate deeper understanding of multiple aspects of Global Healthcare Contract Research Organizations market. This helps user with their developmental strategy.

The global healthcare contract research organizations market is being driven by the increasing investments in research and development activities as a result of the rising demand for novel drugs. In 2020, pharmaceutical industries spent nearly USD 200 billion globally for research and development. With the changing R&D landscape, a large part of R&D is being outsourced to the contract research organizations with an aim to reduce cost, which is thereby propelling the healthcare contract research organizations market growth. According to the data published in a study, the outsourced services’ expenditure share in the worldwide pharmaceutical market stood at 37.7% in 2018 and is expected to increase to over 49%. The rising complexity of drug development process has increased the duration and cost of bringing a drug into the market. Also, the synthesis and formulation of next-generation biologics, such as ADCs, gene therapy, cell therapy, and peptides, are highly complex. Contract research organizations align their capabilities for the development of these innovative therapies. Moreover, the contract research outsourcing solutions provide cutting-edge services due to which government agencies choose to delegate projects to them, allowing the market to grow.

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Key Findings:
• Phase III segment accounted for the highest market share in the healthcare contract research organizations market in 2020.
• Large organizations in the global healthcare contract research organizations market are anticipated to witness highest growth rate over the forecast period. Significant investments by these organizations to accelerate their time to the market and optimise cost is contributing towards the segment’s growth
• Cardiovascular therapeutic area is estimated to grow exponentially over the forecast period in the global healthcare contract research organizations market. Rapid increase in the number of patients suffering from cardiovascular diseases along with increasing investments into the research and development efforts for the disease are simultaneously supplementing the segment’s growth.
• Medical device companies are gaining traction in the global healthcare contract research organizations market as end users. Increasing investments towards development of wearables for varied therapeutic areas is supporting the segment’s growth in the global market.
• Asia Pacific region in the global healthcare contract research organizations market is anticipated to witness fastest growth over the period of next years. Strategic investments by market participants in the region is boosting the region’s share in the global market. For instance, in October 2020, PPD Inc. announced the establishment of a new multipurpose clinical research laboratory in Suzhou, China. The facility is engaged in providing bioanalytical, biomarker, and vaccine services for clinical trials across all phases of pharmaceutical development.

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Competitor Insights:
The key companies profiled in the global healthcare contract research organizations market are mentioned below:
• Advanced Clinical
• BioAgile Therapeutics Pvt. Ltd.
• Charles River Laboratories International, Inc.
• Clinipace
• CTI Clinical Trial & Consulting
• Frontage Labs
• ICON plc
• IQVIA Inc.
• Parexel International Corporation
• Syneos Health
• Thermo Fisher Scientific Inc.
• Worldwide Clinical Trials
• WuXi AppTec
• Other Market Participants

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Global Healthcare Contract Research Organization Market:
• By Services:
o Clinical Monitoring & Trial Management
o Data and Project Management
o Medical Writing and Publishing
o Regulatory Services
o Patient Recruitment & Retention
o Safety and Pharmacovigilance
o Statistical Review & Reporting
o Consulting Services
o Others

• By Development Phase:
o Planning & Discovery
o Phase I
o Phase II
o Phase III
o Phase IV
o Post Launch

• By Organization Size:
o Small and Medium Organizations
o Large Organizations

• By Therapeutic Areas:
o Cardiovascular
o Oncology and Hematology
o Infectious Diseases
o Neurology
o Rare Diseases
o Respiratory
o Urology
o Cell & Gene Therapy
o Women’s Health
o Vaccine Development
o Others

• By End Users
o Pharmaceutical Companies
o Biotechnology Companies
o Medical Device Companies
o Others

• By Region
o North America (U.S., Canada, Mexico, Rest of North America)
o Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
o Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
o Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
o Latin America (Brazil, Argentina, Rest of Latin America)

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