DUBLIN, Jan. 20, 2020 /PRNewswire/ -- The "Global Contract Research Organization (CRO) Market, Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
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.
Increased technology adoption in the form of eClinical solutions and innovative trial designs is expected to transform the CRO landscape.
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 an 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?
Key Topics Covered
1. Executive Summary
- Key Findings
- Market Engineering Measurements
- CEO's Perspective
- Executive Summary - 3 Big Predictions
2. Total CRO Market - Overview
- Scope and Segmentation
- Market Segmentation - Key Sections Covered
- Methodology
- Key Questions to be Answered
- 6 Big Themes for the Global CRO Market
3. Drivers, Restraints, and Trends - Total 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
4. Total CRO Market - Forecasts and Trends
- 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
5. Discovery and Preclinical CRO Market Analysis
- 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
6. Clinical CRO Market Analysis
- Global Clinical CRO Market Snapshot
- Clinical CRO Market - Market Engineering Measurements
- Key Market Assumptions - Clinical CRO Market
- 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
7. Regional Forecast Analysis - North America
- Revenue Forecast
- Revenue Forecast by Therapy Area
- Revenue Forecast by Subsegment
- Revenue Forecast Discussion
- Market Share Analysis
- Clinical CRO Companies to Watch
8. Regional Forecast Analysis - Europe
9. Regional Forecast Analysis - Asia-Pacific
10. Regional Forecast Analysis - Rest of World
11. Total CRO Market - Competitive Environment
- Total CRO Market - Global Vendor Landscape Service Mapping
- 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
12. Clinical CRO Subsegment Analysis
- Revenue Forecast by Subsegment
- Revenue Forecast Discussion
13. Bioanalytical and cGMP Testing Subsegment
- 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
14. Subsegment Analysis - Central Laboratory Services
- Central Laboratory Services Segment - Revenue Forecast
- Central Laboratory Services Segment - Services Benchmarking by Type of Labs
15. Subsegment Analysis - Biostatistics
- Biostatistics Segment - Revenue Forecast
16. Subsegment Analysis - Data Management
- Effective Data Management Process
- Data Management Segment - Revenue Forecast
17. Subsegment Analysis - Pharmacovigilance
- Pharmacovigilance Segment - Revenue Forecast
18. Subsegment Analysis - Health Economics Outcomes Research (HEOR)
- HEOR Segment - Revenue Forecast
19. Digital Disruption in the CRO Industry
- 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 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
20. Visioning Scenarios
- Macro to Micro Visioning
21. CRO Industry Stakeholder Landscape
- Growth Opportunities and Companies to Action
- 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
22. The Last Word
- 3 Big Predictions for the Global CRO Industry
- Conclusion - Tracking the Opportunity
For more information about this report visit https://www.researchandmarkets.com/r/frjl4a
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
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