The increasing gap between R&D expenditure and productivity, and to survive in the competitive marketplace pharmaceutical companies are constantly outsourcing their research and development activities to focus on building core competencies. The contract research outsourcing (CRO) trend in the life sciences industry has evolved in course of time with emerging markets such as China and India are becoming attractive destinations. At the same time, availability of skilled resources in contract research units at a reasonable cost expedited the growth of the CRO sector. The global pharmaceutical industry is slowly transitioning from a vertically integrated business model to an outsourcing model where various processes such as R&D, clinical trials, medical writing, regulatory processes are outsourced. In recent times, countries of Eastern Europe, Latin America, Africa and East Asia are also adopting the contract research business model and becoming strong contenders in the outsourcing market.
The global life sciences contract research outsourcing market report provides market size (Revenue US$ Million 2014 to 2021), market share and forecasts growth trends (CAGR%, 2017 to 2021).
The global life sciences contract research outsourcing market segmentation is based on service types such as drug discovery, clinical trials, preclinical, phase I trials, phase II trials, phase III trials, phase IV trials (post marketing surveillance), clinical data management, medical writing services, regulatory services, and research groups such as academic medical centers, clinical trial laboratories, and contract research organizations.
The global life sciences contract research outsourcing market report also provides the detailed market landscape (market drivers, restraints, opportunities), market attractiveness analysis and profiles of major competitors in the global market including company overview, financial snapshot, key products, technologies and services offered, and recent developments. The global life sciences contract research outsourcing market research report is divided by geography (regional and country based) into North America (U.S., Canada), Latin America (Brazil, Mexico, Rest of LA), Europe (U.K., Germany, France, Italy, Spain, Rest of EU), Asia Pacific (Japan, China, India, Rest of APAC), and Rest of the World.
Major players operating in the global life sciences contract research outsourcing market and included in this report are Quintiles Transnational Corporation, Covance, Inc. Parexel, Omnicare Clinical Research, and others.