LONDON, GREATER LONDON, UK, October 18, 2018 /EINPresswire.com/ — Contract Research Organizations Global Market Opportunities And Strategies To 2021 from The Business Research Company shows that the CRO industry services consisting of pharmacovigilance, bio-statistics, clinical data management, site management, monitoring, regulatory services, protocol development and medical writing will grow most in $ billions after drug discovery services. The contract research organization (CRO) market can be segmented on the basis of the type of services provided, which vary according to the development phase. The segments consist of drug discovery, preclinical studies to determine relative toxicity, phase I to test basic safety and pharmacology, phase II efficacy evaluation, phase III advanced efficacy and safety testing to provide enough data for valid statistical conclusions required by the regulatory authority, phase IV continuous testing following the granting of regulatory authority approval for marketing, and other services. Most segments are growing at a similar rapid pace, so that drug discovery and Other services, so that annual sales of drug discovery services and Other services, the largest two segments in 2017, will gain most in $ billions of annual sales by 2022. Phase III will be in third place, not far behind Other services.
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The largest segment in 2017 was drug discovery, which involves identifying from a pool of 10,000-15,000 compounds a promising molecule that has the potential to become a new medicine. Drug discovery accounted for about 33% of the CRO market in 2017. Its dominance is a reflection of the high failure rate at this early stage of drug development; most possibilities are eliminated at this stage. The next largest segment in 2017, however, was not Phase II but Phase III. This reflected the fact that the sizes of the later stages of pharma R&D vary over time; they are influenced by how many innovations succeeded in earlier stages.
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Read the Contract Research Organizations Global Market Opportunities And Strategies To 2021 from The Business Research Company for information on the following:
Markets Covered: Contract Research Organizations Production, Contract Research Organizations Consumption, Outsourced R&D Market By Service Type (Development Phase), Outsourced R&D Market By Therapeutic Area.
Contract Research Organizations Covered: IQVIA, Laboratory Corporation Of America Holdings, ICON Plc, PAREXEL International Corporation, Pharmaceutical Product Development (PPD), Inc.
Regions: North America, Asia Pacific, Western Europe, Eastern Europe, South America, Middle East, Africa.
Countries: USA, China, Germany, UK, Japan, France, India, Italy, Australia, Spain, Russia, Brazil.
Time Series: Five years historic (2013-17) and forecast (2017-21).
Data Segmentations: CRO market historic and forecast size and growth rates for the world, 7 regions and 12 countries, CRO market segmentation by service type (drug discovery, phase III, phase II, preclinical studies, phase IV, phase I, others), and by therapeutic area (oncology, CNS disorder, cardiovascular disease, metabolic disease, infectious disease, other therapeutic area), segment shares, and growth rates for the world, 7 regions and 12 countries, global competitor sales and market shares.
Other Data: Per capita average CRO expenditure, by country, CRO market size as a percentage of GDP across countries
Other Information: Drivers and restraints of the global CRO market, oncology CRO services market, company profiles including products, strategy and financial performance for 5 CRO companies, contract research organization industry trends and strategies, pharma outsourcing trends, CRO market key mergers and acquisitions, global and by country
Strategies For Participants In The CRO services Industry: The report explains 17+ trend-based strategies for the CRO industry, including investing in technology solutions such as wearables, cloud technology and big data, forming strategic partnerships between CROs and their sponsors (list of 37 such alliances given), using adaptive trial designs, and incorporating real world evidence in clinical studies.
Opportunities For CRO Companies: The report reveals the global, regional and country subsegments where the CRO services market will put on most $ sales up to 2022.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes. Sources include primary as well as extensive secondary research.
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