DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/znr5f3/global_cro_market) has announced the addition of the "Global CRO Market 2015-2019" report to their offering.
The analysts forecast the Global CRO market to grow at a CAGR of 9.83% over the period 2014-2019
Organizations that support outsourced research services for the Pharmaceutical, Biotechnology, and Medical Devices industries are called CROs. The nature of engagement of outsourced services is generally on contractual basis. This helps the vendors to control their R&D expenditure and concentrate on their core skills.
CROs help vendors expand their capacities from clinical trials to healthcare regulatory submissions, biostatistics, and data management work. Furthermore, CROs have also started offering services at all phases (pre-clinical, phase I, phases II & IIIa, phases IIIb & IV, labs, and others) of drug development and discovery. CROs have built their capabilities from the earliest to the latest stages of drug development with emphasis on partnership, collaboration, and fee for service models.
Increased R&D by biopharmaceutical vendors is one of the major trends emerging in the market. Customers are increasingly opting for biopharmaceutical drugs rather than chemical pharmaceuticals drugs for the treatment of some diseases such as diabetes, cancer, and genetic diseases because biopharmaceutical drugs offer several advantages.
According to the report, increased outsourcing of R&D activities by global pharmaceutical and biopharmaceutical vendors is one of the main drivers of the market. Several tier I and tier II pharmaceutical and biopharmaceutical vendors are outsourcing R&D and clinical trial activities to CROs to reduce their expenditure on R&D activities.
Further, the report states that the shortage of experienced personnel to conduct various activities in CROs is one of the main challenges in the market. Moreover, many CROs do not have sufficient personnel to fulfill the R&D demands of several vendors
- Parexel International
- PRA Health Sciences
Key Topics Covered:
- Executive Summary
- List of Abbreviations
- Scope of the Report
- Market Research Methodology
- Market Landscape
- Market Segmentation by Type of Service
- Market Segmentation by Therapeutic Area
- Geographical Segmentation
- Buying Criteria
- Market Growth Drivers
- Drivers and their Impact
- Market Challenges
- Impact of Drivers and Challenges
- Market Trends
- Trends and their Impact
- Vendor Landscape
- Key Vendor Analysis
For more information visit http://www.researchandmarkets.com/research/znr5f3/global_cro_market