Press Release
Press Release
Amid Ukraine-Russia crisis, our analysts and industry experts are closely monitoring the markets and working hard to identify, gather and timely deliver analysis of the impact of the situation and the impact that it has on various markets. All our reports are updated with the latest impact on the market before being sent out to our customers.
According to a new report by EMR titled, ‘Global Contract Research Organisation (CRO) Services Market Report and Forecast 2021-2026’, the global CRO services market attained USD 42 billion in 2020. The market is further expected to grow at a CAGR of 7% between 2021 and 2026 to reach USD 63 billion by 2026.
The global CRO services market is being aided by the rising research and development activities being undertaken by major pharmaceutical companies. The market growth has also been supported by the growing outsourcing of the complex processes involved in the drug development activities. The rising outsourcing rates has been the result of the rising research and drug development activities, combined with the increasing need to make the development process more cost-efficient.
North America represented the leading market for contract research organisation (CRO) services due to the prominent presence of leading pharmaceutical companies in the region. The robust growth of biosimilar and biologics industries within the region has also supported the market growth in the region. In the coming years, the Asia Pacific is expected to emerge as a significant market for contract research organisation (CRO) services due to the rising volume of clinical trials, along with the increasing number of drug development activities being undertaken by the companies within the region.
The contract research organisation (CRO) services industry is further expected to be supported by the growing M&A activities being undertaken by the major players in the industry, thus, expanding their portfolios and regional footprints. In April 2018, Charles River Laboratories International, Inc. (NYSE: CRL), a leading player in the industry, completed its acquisition of MPI Research for about USD 800 million in cash. The acquisition of MPI, a significant non-clinical contract research organization (CRO) offering testing services to medical device and biopharmaceutical companies globally, is expected to strengthen Charles River’s position as one of the leading global early-stage CROs.
Market Analysis by Service Type, Therapeutic Area, End Use, and Region:
Key Findings of the Report:
Key Offerings of the Report:
The major players in the global contract research organisation (CRO) services market are Charles River Laboratories International, Inc., Clinipace, Clintec International Ltd., CMIC Holdings Co., Ltd, EPS International, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
About Us:
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
Contact Us:
Expert Market Research
Website: www.expertmarketresearch.com
Email: sales@expertmarketresearch.com
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790
*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.