Product ID: SQMIG35G2185
Report ID:
SQMIG35G2185 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
38 |
Figures:
74
Contract Research Organization Market size was valued at USD 62 billion in 2021 and is poised to grow from USD 69.25 billion in 2022 to USD 167.82 billion by 2030, growing at a CAGR of 11.7% in the forecast period (2023-2030).
The global Contract Research Organization (CRO) market is experiencing significant growth and is driven by several key factors. CROs provide a wide range of research and development services to pharmaceutical, biotechnology, and medical device companies, offering expertise in clinical trials, regulatory affairs, and data management.
The market is witnessing increased outsourcing of research activities by pharmaceutical companies, driven by the need to reduce costs, accelerate drug development timelines, and access specialized expertise.
Additionally, the growing complexity of clinical trials and the increasing demand for personalized medicine are fueling the demand for CRO services. Moreover, the expanding biopharmaceutical pipeline and the rise in outsourcing by small and mid-sized companies are further propelling market growth.
Overall, the global CRO market is poised for substantial growth as the pharmaceutical and biotechnology industries continue to rely on external partners for research and development support.
US Contract Research Organization Market is poised to grow at a sustainable CAGR for the next forecast year.
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Product ID: SQMIG35G2185