US and Europe Pharma and Biotech Cro Market is anticipated to register a healthy market expansion at a CAGR of 10.32% during the review period.
CROs (Contract Research Organizations) play an important role in the pharmaceutical and biotechnology industries by providing outsourced services such as drug development, clinical trials, regulatory affairs, and more. These include drug development, clinical trials, regulatory affairs, and post-market surveillance. CROs help streamline the drug development process by managing various aspects of clinical trials, from design and protocol development to patient recruitment, data collection, and analysis.
The increasing research and development investments by pharmaceutical and biotechnology industries, adoption of cutting-edge technology such as artificial intelligence, big data analytics, and precision medicine, and increased number of clinical trials and studies generates demand for CRO services for trial management and support are the major factors driving the growth of the US & Europe pharma and biotech CRO market. However, the intense competition among CROs and data privacy and security concerns are expected to hamper the growth of the global market. Nevertheless, emerging markets offer significant growth opportunities, and the growing investment in personalized and precision medicine is anticipated to create lucrative opportunities for the market.
Market Segmentation
Based on Service Type, the US and Europe Pharma and Biotech CRO Market has been segmented into clinical development services, formulation development services, pharmacovigilance services, laboratory services, consulting services, data management services, and others includes regulatory affairs services and others.
Based on phase, the Market has been segmented into Phase I, Phase II, Phase III, Phase IV. and Post Marketing Studies (PMS).
Based on Indication, the Market has been segmented into cardiovascular, oncology, dermatology, gynecology, neurology, respiratory diseases, orthopedics, ophthalmology and others includes.
Based on end user, the US and Europe Pharma and Biotech CRO Market has been segmented into pharmaceutical companies, and biopharmaceutical companies.
Based on region/country, the Market has been segmented into US, and Europe.
Major Players
The key market players include KLIF, Ergomed Group, Astrum CRO, Ergomed Group, Optimapharm, FGK Clinical Research, Kapadi, TFS HealthScience, Winicker Norimed GmbH, JSB Solutions Srl, and IQVIA Holding, Inc.
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