DUBLIN--(BUSINESS WIRE)--The "Medical Devices Contract Research Organizations Market by Target Therapeutic Area, Scale of Operation, Device Class, Type of Clinical Service Offered, Type of Preclinical Service Offered, and Key Geographies: Industry Trends and Global Forecasts, 2022-2035" report has been added to ResearchAndMarkets.com's offering.
This report features an extensive study of the current market landscape and future opportunities associated with the medical device contract research organizations market. The study also includes an in-depth analysis, highlighting the capabilities of various stakeholders engaged in this domain.
Company Profiles
- Avania (Formerly known as Factory CRO)
- Charles River Laboratories
- CROMSOURCE
- CSSi LifeSciences
- Eurofins Medical Device Testing
- IQVIA
- Medpace
- NAMSA
- Qserve Group
- WuXi AppTec
According to the World Health Organization (WHO), presently, around two million medical devices are available across the globe. Further, just over 35 medical devices received approval by the USFDA, every year. It is worth highlighting that, since 2020, the USFDA has approved around 105 medical devices.
Moreover, the medical devices are expected to capture more than 40% of the global medtech industry and this value is projected to grow at a steady pace over the coming years. In this context, the number of medical device focused clinical trials have increased at a considerable rate, over the past few years.
However, only a few players engaged in this domain claim to have the technical expertise to carry out in-house clinical research. This can be attributed to the high costs associated with acquiring the required infrastructure and capabilities to carry out research in this domain.
In addition, various regulatory guidelines render medical devices subject to rigorous quality assessments, thereby, making it difficult for firms with limited finances to undertake research initiatives. Specifically, post the onset of the COVID-19 pandemic, there has been a substantial increase in the demand for medical devices as they have the ability to enable early diagnosis, as well as provide non-invasive and effective treatments.
Given the surge in demand for medical devices in the recent past, coupled to the aforementioned constraints faced by developers, a large number of small, as well as well-established, players prefer to outsource a significant share of their respective clinical operations and regulatory affairs management to contract research organizations (CROs). Since 2010, over 75 CROs have been established in this domain.
Further, in order to support the growing demand, medical device CROs have been re-evaluating and bolstering their existing capabilities to offer a wide range of services to their clients. Integration of novel technologies and tools, such as cloud computing, risk monitoring tools, real-world evidence and advanced data analytics, is another key initiative being undertaken by several CROs to distinguish themselves from their competitors.
To enable expansion of their existing capabilities, more than 55 acquisitions and / or strategic alliances have been established by service providers in this market, since 2015. Considering the prevalent trends and projected opportunity associated with the overall medical devices market, we believe that the medical devices CROs market is likely to witness consistent grow, till 2035.
The report features detailed transcripts of interviews held with the following stakeholders:
- Lajos Sarosi (Chief Executive Officer and Co-founder, HungaroTrial)
- Lee King (Senior Vice President, Business Development and Marketing)
- Christopher Rupp (Vice President of Global Marketing and Commercial Operations, NAMSA)
- Claus Hemiker (Head, Business Development)
- Christian Wolflehner (General Manager, CW Research & Management)
- Troy W. Mccall (Chief Commercial Officer, CROMSOURCE)
- Nazish Urooj (Senior manager, Medical & Clinical Operations, Metrics Research)
- C. Omprakash (Technical Director and Partner, Vyomus Consulting)
- Tania Persson (Director of Business Development, A+ Science)
- Alexa Foltin-Mertgen (Business Development Manager, AtoZ-CRO)
All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this report are in USD, unless otherwise specified.
Key Questions Answered
- Who are the key players engaged in offering contract research services for medical devices?
- Which regions represent the key contract research hubs for medical devices?
- What are the key regulatory guidelines, related to medical devices that have been established across various geographies?
- What are the key value drivers of the merger and acquisition activity observed within this domain?
- What percentage of the medical devices research operations are presently outsourced?
- What are the likely future trends in contract research services market for medical devices?
- How is the current and future opportunity likely to be distributed across key market segments?
- What is the total cost of ownership required to set up a medical device contract research organization?
Key Topics Covered:
1. PREFACE
2. EXECUTIVE SUMMARY
3. INTRODUCTION
4. MARKET LANDSCAPE
5. REGULATORY AND REIMBURSEMENT LANDSCAPE FOR MEDICAL DEVICES
6. COMPANY PROFILES
7. MEDICAL DEVICE DEVELOPER AND CRO RELATIONSHIPS: KEY VALUE DRIVERS AND PERFORMANCE INDICATORS
8. COMPETITIVE BENCHMARKING
9. BRAND POSITIONING OF KEY INDUSTRY PLAYERS
10. CLINICAL TRIAL ANALYSIS
11. MERGERS AND ACQUISITIONS
12. TOTAL COST OF OWNERSHIP IN MEDICAL DEVICES CONTRACT RESEARCH ORGANIZATION
13. SURVEY INSIGHTS
14. MARKET SIZING AND OPPORTUNITY ANALYSIS
15. SWOT ANALYSIS
16. FUTURE TRENDS AND OPPORTUNITIES
17. INTERVIEW TRANSCRIPTS
18. APPENDIX 1: TABULATED DATA
19. APPENDIX 2: LIST OF COMPANIES AND ORGANIZATIONS
For more information about this report visit https://www.researchandmarkets.com/r/4yesfy
