This report on the healthcare contract research outsourcing market analyzes the current and future prospects of the market. The report comprises an elaborate executive summary, including a market snapshot that provides overall information of various segments and sub-segments. The research is a combination of primary and secondary research. Detailed qualitative analysis of factors responsible for driving and restraining market growth and opportunities has been provided in the market overview section. Market revenue in terms of US$ Mn for the period between 2015 and 2025 along with the compound annual growth rate (CAGR %) from 2017 to 2025 are provided for all the segments, considering 2016 as the base year.
Now-a-days the drug development process is characterized by large clinical trials, rapid changes in trials protocols for efficient management of data generated and complex procedures, with the growing price of in-house research, the demand for contract research outsourcing is also increasing. These trends have formed pressure on healthcare companies to develop efficient drug development and product commercialization process. Along with the drug development efficiency, healthcare companies are looking to merge and simplify the supply chain, directing sourcing among a preferred number of multiple service providers. In response, large CROs are actively expanding their offerings beyond core clinical research services. Contract research organizations work closely with healthcare companies to conduct clinical research programs and support marketing activities for them. An increasing number of healthcare companies are outsourcing their clinical trials and other services to the contract research organizations.
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Global Healthcare Contract Research Outsourcing market Witness Most Promising Rise in Demand
The global healthcare contract research outsourcing market is rising with increasing complex regulatory process & growing regulatory burden. The global healthcare contract research outsourcing market was valued over US$ 30 Bn in 2016 and is projected to witness cumulative annual growth rate (CAGR) of over 6% from 2017 to 2025 to surpass the value of US$ 54 Bn by 2025. The global market is witnessing relatively higher growth owing to globalization of clnical trials, increasing efforts for optimization of costs and development time for drug development and rise in varied services and solutions offered by the CROs.
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
Key Players of Healthcare Contract Research Outsourcing Market Report:
This report profiles major players operating in the global Healthcare Contract Research Outsourcing market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
The global Healthcare Contract Research Outsourcing market is highly fragmented, with large number of players in the global market and small-scale players in regional markets. The top four to five players hold major share of the global Healthcare Contract Research Outsourcing market.
The report concludes with the company profiles section that includes key information about major players in the market
The report also profiles major players in the healthcare contract research outsourcing market based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Key companies profiled in the report include Syneos Health, PAREXEL International, ICON PLC, PRA Health Sciences, Inc., Charles River, Laboratory Corporation of America Holdings (Covance), IQVIA, Medpace, Pharmaceutical Product Development, LLC.
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