Clinical Research Services Market report offers Market Size, Dynamics, Regional Market Share, Top Key Players, Latest trends, Growth factors, Industry Stats, Historic Market, Business Intelligence, Business Research Reports, Competitive Intelligence 2013 to 2017 and Forecast 2018 to 2024
Global clinical research services market is driven by increased burden of chronic diseases such as HIV, cancer and cardio vascular diseases, which requires huge investments. Pharmaceutical and biotechnological companies outsource their clinical research activities to clinical research service organizations to reduce the cost and regulatory burdens. In addition, enormous growth in biopharmaceutical segment, discovery of the new drugs through innovation and increase in clinical trials are expected to boost the clinical research services market over the forecast period. However, increase in clinical research costs, stringent regulatory procedures and ethical issues are hindering the clinical research services market.
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Clinical research services market has been segmented based on type of service, therapeutic area, end user, and region
Based on type of service, clinical research services market is segmented into
- Treatment Research
- Prevention Research
- Diagnostic Research
- Screening Research
- Quality of LifeResearch
- Genetic studies
- Epidemiological studies
- Clinical Trials
- Others
Base on disease area, clinical research services market is segmented into
- Oncology
- Central Nervous System Disorders
- Cardio Vascular Disorders
- Diabetes
- Infectious Diseases
- Others
Based on end-user, clinical research services market is segmented into
- Pharmaceutical Companies
- Biotechnological Companies
- Research Organizations
- Others
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Clinical research services market is at steady stage of growth. The market is expected to grow at a significant rate during the forecast period. Market players are expanding their markets by offering various services and collaborations. For instance in June 2017, PAREXEL International Corporation, a leading global biopharmaceutical services organization, collaborated with Sanofi to advance the use of wearable devices to transform the collection of data in clinical trials. Moreover, In order to maintain market position, companies adopting mergers and acquisitions as their key strategies. For instance, in May, 2017 and inVentiv Health, Inc. and INC Research Holdings, Inc., announced a definitive merger agreement to create a leading biopharmaceutical solutions organization. Similarly, in April 2016, Charles River Laboratories acquired WIL Research to enhance its global footprint, scientific capabilities, and access to growing market segments.
Geographically clinical research services market has been segmented into following regions viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America clinical research services market expected to be leading clinical research services market owing to factors such as favourable regulations, developed infrastructure, increase in research and development activities and availability of pool of patients. Europe clinical research services market expected to grow at significant rate owing to increase in R&D activities by pharma and biotechnological companies and favourable regulatory environment and government policies. Asia Pacific region clinical research services market is expected to be fastest growing owing to developing regulatory policies, low cost of the research and availability of a large number of patients.
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Some of the players in Clinical Research Services market are Laboratory Corporation Of America Holdings (U.S.), Quintiles Transnational Holdings Inc. (U.S.), PAREXEL International Corporation (U.S.), ICON Plc (Ireland), PRA Health Sciences, Inc. (U.S.), InVentiv Health Inc. (U.S.), Wuxi AppTec (Cayman) Inc. (China), Pharmaceutical Product Development, LLC (U.S.), INC Research Holdings Inc. (U.S.), and Charles River Laboratories International Inc. (U.S.), to name a few.
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