The global market for CRO's across the clinical trial process should grow from $45.5 billion in 2017 to reach $72.3 billion by 2022 at a compound annual growth rate of 9.7% for the period of 2017-2022.

The global healthcare contract research organization market was valued at USD 36 billion in 2019 and is projected to reach USD 62 billion by 2027, expanding at a CAGR of 7% during the forecast period, between 2020 and 2027. Growing preference for outsourcing activities is driving the overall market growth.

A contract research organization (CRO) is a company that offers support to the pharmaceutical, biotechnology, and medical device industries by their range of research services outsourced on a contract basis.

A CRO can offer services such as biopharmaceutical development, biologic assay development, commercialization, preclinical research, clinical research, clinical trials management, and pharmacovigilance.

Market Trends, Drivers, Restraints, and Opportunities:

• Rising number of patent expiration in the healthcare sector is anticipated to drive the market growth during the forecast period.


• Growing preference of government organizations towards CROs is projected to propel the overall demand in the coming years.


• Increasing pressure on drug developers relating to clinical data management, regulatory environments, and strict safety standards is expected to bolster the growth for the market.


• Lack of knowledge about such organizations is anticipated to restrain the market growth in the coming years.


• Growing R&D activities by key players are estimated to generate lucrative market opportunities for the overall market growth over the forecast period.

Scope of the Report:

The report on the global healthcare contract research organization market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Base Year	2019
Historic Data	2017–2018
Forecast Period	2020–2027
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Snapshot img { margin: 10px !important; } Overview of the global qPCR market

According to Technavio’s market research report, the global qPCR market will grow at a CAGR of close to 8% during the forecast period. One of the key drivers stimulating the growth of this global market during the next few years will be the increasing demand for new drugs. The number of chronic diseases such as cancer is expected to rise by about 70% over the next two decades due to factors such as the increasing urbanization, sedentary lifestyle, and unbalanced diet. Around 20% of the global cancer deaths and around 70% of global lung cancer deaths are caused by the consumption of tobacco and alcohol. Also, the prevalence of autoimmune disorders such as rheumatoid arthritis, polymyalgia rheumatic, and Crohn's disease is increasing. This will drive the demand for new drugs and clinical researches. Many research applications are carried out using advanced equipment such as quantitative polymerase chain reaction (qPCR). The qPCR analysis technology provides valuable quantitative data analysis of nucleic acids as it is highly specific, sensitive, and accurate. Consequently, demand for qPCR for research as well as testing and diagnostic purposes will increase during the estimated period.

The increasing number of outsourcing activities acts as one of the key trends responsible for the growth in the qPCR market. The outsourcing of research and drug discovery and the development of contract research organization (CROs) by drug manufacturing and biotechnology companies helps vendors to reduce their expenditure on research and developmental activities. This drives the demand for qPCR technologies because CROs highly rely on this technology to develop products and conduct clinical trials.

Competitive landscape and key vendors

The qPCR market is highly fragmented due to the presence of many international and regional players in many countries. The increasing number of applications in the field of medical, diagnosis of infectious diseases, and forensics for various purposes will open growth opportunities for these vendors. These players are increasingly adopting mergers and acquisitions to increase their investment in research and developmental activities. Furthermore, vendors are also focusing on offering solutions with features such as consistent quality of data, sensitivity, high-throughput ability, ease of use, multiplexing capacity, and service and support.

Key vendors in this market are -

Agilent Technologies
Bio-Rad Laboratories
QIAGEN
Thermo Fisher Scientific

Other prominent vendors in the market include altona Diagnostics, Cepheid, Roche Diagnostics, Promega, and TATAA Biocenter.

Segmentation by application and analysis of the qPCR market

Drug discovery and development
Clinical diagnostics
Research laboratories

The drug discovery and development segment contributed to the maximum market shares during 2016. This was mainly due to the rising number of pharmaceutical companies and the demand for new drug development. The need for drug discovery and development is increasing due to the outbreak of various unknown diseases in different parts of the world. This has driven the number of pharmaceutical companies on a global level. The segment will continue to account for the largest shares during the predicted period as well since qPCR technology is widely used in various stages of drug discovery such as the study of gene expression, gene profiling, genotyping, and analysis of DNA methylation.

Segmentation by geography and analysis of the qPCR market

Americas
APAC
EMEA

Owing to the presence of developed healthcare infrastructure and many pharmaceutical companies in countries such as the US, the Americas accounted for the majority shares of the qPCR market during 2016. The rise in number of tests related to the development of new drugs and disease diagnosis that requires qPCR techniques and this will turn, fuel the demand for qPCR in this region during the next four years.

Key questions answered in the report include

What will the market size and the growth rate be in 2021?
What are the key factors driving the global qPCR market?
What are the key market trends impacting the growth of the global qPCR market?
What are the challenges to market growth?
Who are the key vendors in the global qPCR market?
What are the market opportunities and threats faced by the vendors in the global qPCR market?
What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
What are the key outcomes of the five forces analysis of the global qPCR market?

Technavio also offers customization on reports based on specific client requirement.

This upcoming industry research report on the global qPCR market offers insights into the key trends and emerging drivers influencing the growth of the lab equipment industry. Our market research

The global oncology drug discovery services market to grow at an annualized growth rate of 6.2% during the forecast period.

Imaging Clinical Research Organization Market Global Industry Size, Share, Trends, Opportunity, Forecast, 2027, By Imaging Modality, By Company and By Region

Pages	110
Market Size
Forecast Market Size
CAGR
Fastest Growing Segment
Largest Market
Key Players

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