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Focus on Specialized Technical Proficiency and Growing Pressure to Reduce R&D Costs Drive Growth in the Contract Research Outsourcing Market


Published: April 2017

REPORT STATISTICS


  • Code: MCP-1534
  • Pages: 282
  • Tables: 44
  • Companies: 115


CONTRACT RESEARCH OUTSOURCING: A RESEARCH BRIEF

The global market for Contract Research Outsourcing is forecast to reach US$71.2 billion by 2022, driven by the growing efforts of pharmaceutical and biopharmaceutical companies to enhance productivity, optimize R&D costs and reduce time to market of new drugs. Increasing number of clinical trials, patent expiration, increasing number of CRO collaborations for providing higher-end services, growing interest among government organizations to offer projects to CROs, and demand for outsourcing clinical trial and analytical testing services are other key factors driving demand for contract research outsourcing services. The United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 11.8% over the analysis period led by factors such as rapidly expanding domestic pharmaceutical industry; favorable foreign direct investment (FDI) policies in the pharmaceutical sector; low cost of clinical trials by over 20% to 30%; growing volumes of clinical trials conducted in developing Asian countries due to the availability of “willing” cohort of participants; and rise of emerging markets as preferred locations for conducting non-traditional research due to less strict legislations and research protocols. 

    Summary of Findings

  • Commercialization of Novel Drugs to Provide Required Impetus to R&D Activities in Future Years
  • Increasing Demand for Effective & Advanced Drugs in Both Developed & Developing Economies Drives Market Growth
  • The Digital Automation of Clinical Trials Offers New Growth Opportunities for CROs
  • New Technologies Help Shorten Patient Enrollment Times by Allowing CROs to Access Real-time Patient Information
  • eClinical Solutions Continue to Gain Traction
  • Outsourcing of Toxicology Testing Services Used in Drug Development & Discovery Processes Gathers Steam

    Timeline for Analysis

  • Market Estimates and Forecasts for 2015-2022
  • Historic Review 2009-2014

    Geographic Markets Analyzed

  • US, Canada, Japan, Europe, Asia-Pacific (China, India and Rest of Asia-Pacific), and Rest of World

    Market Segmentation & Classification

  • Service Segments:
    • Drug Discovery, Preclinical Research, and Clinical Research

MAJOR PLAYERS

  • Albany Molecular Research, Inc.
  • Charles River Laboratories International, Inc.
  • Chiltern International Ltd.
  • ICON plc
  • INC Research, LLC
  • InVentiv Health, Inc.
  • Jubilant Biosys Ltd.
  • Laboratory Corporation of America® Holdings

KEY RESEARCH DELIVERABLES

  • Review of Industry/Market Structure
  • Analysis of Trends & Drivers
  • Insights on Macro Market Scenarios
  • Market SWOT Analysis
  • Latent Demand Forecasts & Projections
  • Comprehensive Geographic Market Analysis
  • Presentation Ready Facts & Statistical Data Findings
  • Coverage of Major/Niche Players, Market Shares & Competition
  • Coverage of major Company/Technology/Product/Financial Stories
  • Extensive Product/Service/End-Use/Technology Coverage Where Applicable