Clinical Trial Support Services Market Application, Age Group, and Geography - Forecast and Analysis 2022-2026

Published: Sep 2022 Pages: 141 SKU: IRTNTR74267

The clinical trial support services market share is expected to increase by USD 8.37 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.4%.

This clinical trial support services market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers clinical trial support services market segmentations by application (phase 2, phase 3, phase 1, and phase 4), age group (adults (greater than 18 years), adolescents (10 to 18 years), and children (less than 10 years)), and geography (Europe, North America, Asia, and Rest of World (ROW)). The clinical trial support services market report also offers information on several market vendors, including AH UK Holdco 1 Ltd., Almac Group Ltd., Brighter Health Network LLC, Catalent Inc., Charles River Laboratories International Inc., Clinipace Inc., Eli Lilly and Co., Eurofins Scientific SE, ICON plc, IQVIA Holdings Inc., Laboratory Corp. of America Holdings, MARKEN Ltd., Parexel International Corp., Pfizer Inc., PharmNet.Bund, Quotient Sciences Ltd., Seveillar Clinical Supplies Services Pvt. Ltd., Syneos Health Inc., Thermo Fisher Scientific Inc., and WuXi AppTec Co. Ltd. among others.

What will the Clinical Trial Support Services Market Size be During the Forecast Period?

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Clinical Trial Support Services Market: Key Drivers, Trends, and Challenges

The growth of the biopharmaceutical industry is notably driving the clinical trial support services market growth, although factors such as the high cost of clinical trials may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the clinical trial support services industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Clinical Trial Support Services Market Driver

  • The growth of the biopharmaceutical industry is one of the factors driving the clinical trial support services market growth.
  • The dynamics of the biopharmaceutical industry evolve as the pharmaceutical industry shifts toward the biopharmaceutical industry for the discovery of new drugs and biosimilars that are introduced into the market by new global participants.
  • The ability of biopharmaceutical products to address previously untreatable conditions has introduced innovative drugs into the market. Approximately 70% of potential medicines in development represent novel approaches to addressing diseases in areas such as cancer, neurology, diabetes, and immunology.
  • The significant expansion of the global biopharmaceutical market has led to the growth of many other industries, such as contract research, contract-based manufacturing, biologics and pharmaceutical consumables, and clinical trials. Thus, the growth of the biopharmaceutical industry is driving the growth of the market and the demand for clinical trial supplies.

Key Clinical Trial Support Services Market Trend

  • Growing demand for CROs is one of the key clinical trial support services market trends fueling the market growth.
  • Many pharmaceutical product manufacturers and drug discovery companies prefer to outsource their clinical trial processes to CROs. Outsourcing clinical trial processes help pharmaceutical companies focus on R&D and optimize their operational costs, which led to an increase in the number of CROs. 
  • In developed countries, high operating costs prevented several companies from investing in a research facility due to requirements for high capital, leading to a drop in the R&D investments by companies. To avoid this business problem and optimize operational costs, subcontract laboratories carry out research and testing to drive innovation for these companies. 
  • India has rapidly become one of the preferred destinations for clinical trials, owing to its large heterogeneous patient pool, rapidly transforming healthcare market, highly educated physicians, and cost competitiveness. 
  • The outsourcing of clinical trial processes decreases the risk of failure associated with clinical research processes. Thus, the outsourcing of clinical trial services is highly accepted among manufacturers and vendors in the biopharmaceutical industry and leading to the growth of CROs. Owing to these factors, the market is expected to witness growth during the forecast period.

Key Clinical Trial Support Services Market Challenge

  • The high cost of clinical trials is one of the key factors challenging the clinical trial support services market growth.
  • Approximately 80% of clinical trials fail to retain sufficient patients to continue. A company hoping to get a single drug to market is expected to spend $350 million before the medicine is available for sale. No guarantees can be provided for the profitability and benefits of approved drugs to companies and manufacturers and to people who consume them. 
  • Many solutions are available to minimize the rising costs of clinical trials, but the most feasible solution is increasing patient awareness. 
  • The market has witnessed a need for novel conjugate vaccines. However, these vaccines are emerging slowly due to the requirement for high investments in developing and manufacturing. There is wide variability in the costs of manufacturing conjugate vaccines. The total cost of vaccine development and manufacturing can exceed $50 million. Hence, the rising costs of clinical trials need to be addressed for the unhindered growth of the clinical research industry.

This clinical trial support services market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global clinical trial support services market as a part of the global life science tools and services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the clinical trial support services market during the forecast period.

Who are the Major Clinical Trial Support Services Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • AH UK Holdco 1 Ltd.
  • Almac Group Ltd.
  • Brighter Health Network LLC
  • Catalent Inc.
  • Charles River Laboratories International Inc.
  • Clinipace Inc.
  • Eli Lilly and Co.
  • Eurofins Scientific SE
  • ICON plc
  • IQVIA Holdings Inc.
  • Laboratory Corp. of America Holdings
  • MARKEN Ltd.
  • Parexel International Corp.
  • Pfizer Inc.
  • PharmNet.Bund
  • Quotient Sciences Ltd.
  • Seveillar Clinical Supplies Services Pvt. Ltd.
  • Syneos Health Inc.
  • Thermo Fisher Scientific Inc.
  • WuXi AppTec Co. Ltd.

 

This statistical study of the clinical trial support services market encompasses successful business strategies deployed by the key vendors. The clinical trial support services market is fragmented and the vendors are deploying growth strategies such as price, quality, innovation, reputation, and distribution network to compete in the market.

Product Insights and News

  • iconplc.com - Under the unified segment, the company offers outsourced development and commercialization services to the pharmaceutical, biotechnology, and medical device industries.
  • iconplc.com - The company offers clinical trial support services such as agile clinical monitoring, optimised balanced resourcing, and project management.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The clinical trial support services market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Clinical Trial Support Services Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the clinical trial support services market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Clinical Trial Support Services Market?

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29% of the market’s growth will originate from Asia during the forecast period. Japan and China are the key markets for the clinical trial support services market in Asia. Market growth in this region will be faster than the growth of the market in other regions.

Another region offering significant growth opportunities for vendors is Europe. The pharmaceutical, biologics, and medical technology companies in Western European countries will facilitate the clinical trial support services market growth in Asia over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 had adversely impacted the regional market. However, the European Federation of Pharmaceutical Industries and Associations (EFPIA) member companies continued to work around the clock to increase the production scale and ensure the timely supply of critical medicines to patients across Europe. Such factors are expected to boost the market growth in the coming years.

What are the Revenue-generating Application Segments in the Clinical Trial Support Services Market?

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The clinical trial support services market share growth by the phase 2 segment will be significant during the forecast period. Another segment offering similar growth is phase 1. Participants in Phase I trials are healthy individuals. Thus, they receive no direct medical benefit, but they considerably improve the health of others. The amount of compensation for these volunteers depends on their time of commitment and the type of medicine or procedure being evaluated. Owing to these factors, the Phase 1 segment is expected to drive the growth of the market during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the clinical trial support services market size and actionable market insights on post COVID-19 impact on each segment.

 

Clinical Trial Support Services Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 7.4%

Market growth 2022-2026

$ 8.37 billion

Market structure

Fragmented

YoY growth (%)

7.36

Regional analysis

Europe, North America, Asia, and Rest of World (ROW)

Performing market contribution

Asia at 29%

Key consumer countries

US, Germany, France, Japan, and China

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AH UK Holdco 1 Ltd., Almac Group Ltd., Brighter Health Network LLC, Catalent Inc., Charles River Laboratories International Inc., Clinipace Inc., Eli Lilly and Co., Eurofins Scientific SE, ICON plc, IQVIA Holdings Inc., Laboratory Corp. of America Holdings, MARKEN Ltd., Parexel International Corp., Pfizer Inc., PharmNet.Bund, Quotient Sciences Ltd., Seveillar Clinical Supplies Services Pvt. Ltd., Syneos Health Inc., Thermo Fisher Scientific Inc., and WuXi AppTec Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Clinical Trial Support Services Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive clinical trial support services market growth during the next five years
  • Precise estimation of the clinical trial support services market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the clinical trial support services industry across Europe, North America, Asia, and Rest of World (ROW)
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of clinical trial support services market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Age Group
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 18: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 25: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 26: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 27: Chart on Comparison by Application
      • Exhibit 28: Data Table on Comparison by Application
    • 5.3 Phase 2 - Market size and forecast 2021-2026
      • Exhibit 29: Chart on Phase 2 - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Data Table on Phase 2 - Market size and forecast 2021-2026 ($ million)
      • Exhibit 31: Chart on Phase 2 - Year-over-year growth 2021-2026 (%)
      • Exhibit 32: Data Table on Phase 2 - Year-over-year growth 2021-2026 (%)
    • 5.4 Phase 3 - Market size and forecast 2021-2026
      • Exhibit 33: Chart on Phase 3 - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Data Table on Phase 3 - Market size and forecast 2021-2026 ($ million)
      • Exhibit 35: Chart on Phase 3 - Year-over-year growth 2021-2026 (%)
      • Exhibit 36: Data Table on Phase 3 - Year-over-year growth 2021-2026 (%)
    • 5.5 Phase 1 - Market size and forecast 2021-2026
      • Exhibit 37: Chart on Phase 1 - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Data Table on Phase 1 - Market size and forecast 2021-2026 ($ million)
      • Exhibit 39: Chart on Phase 1 - Year-over-year growth 2021-2026 (%)
      • Exhibit 40: Data Table on Phase 1 - Year-over-year growth 2021-2026 (%)
    • 5.6 Phase 4 - Market size and forecast 2021-2026
      • Exhibit 41: Chart on Phase 4 - Market size and forecast 2021-2026 ($ million)
      • Exhibit 42: Data Table on Phase 4 - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Chart on Phase 4 - Year-over-year growth 2021-2026 (%)
      • Exhibit 44: Data Table on Phase 4 - Year-over-year growth 2021-2026 (%)
    • 5.7 Market opportunity by Application
      • Exhibit 45: Market opportunity by Application ($ million)

    6 Market Segmentation by Age Group

    • 6.1 Market segments
      • Exhibit 46: Chart on Age Group - Market share 2021-2026 (%)
      • Exhibit 47: Data Table on Age Group - Market share 2021-2026 (%)
    • 6.2 Comparison by Age Group
      • Exhibit 48: Chart on Comparison by Age Group
      • Exhibit 49: Data Table on Comparison by Age Group
    • 6.3 Adults (greater than 18 years) - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Adults (greater than 18 years) - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Adults (greater than 18 years) - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Adults (greater than 18 years) - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Adults (greater than 18 years) - Year-over-year growth 2021-2026 (%)
    • 6.4 Adolescents (10 to 18 years) - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Adolescents (10 to 18 years) - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Adolescents (10 to 18 years) - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Adolescents (10 to 18 years) - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Adolescents (10 to 18 years) - Year-over-year growth 2021-2026 (%)
    • 6.5 Children (less than 10 years) - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Children (less than 10 years) - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Children (less than 10 years) - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Children (less than 10 years) - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Children (less than 10 years) - Year-over-year growth 2021-2026 (%)
    • 6.6 Market opportunity by Age Group
      • Exhibit 62: Market opportunity by Age Group ($ million)

    7 Customer Landscape

    • 7.1 Customer landscape overview
      • Exhibit 63: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 64: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 65: Data Table on Market share by geography 2021-2026 (%)
    • 8.2 Geographic comparison
      • Exhibit 66: Chart on Geographic comparison
      • Exhibit 67: Data Table on Geographic comparison
    • 8.3 Europe - Market size and forecast 2021-2026
      • Exhibit 68: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 69: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 70: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 71: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 8.4 North America - Market size and forecast 2021-2026
      • Exhibit 72: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 73: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 74: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 75: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 8.5 Asia - Market size and forecast 2021-2026
      • Exhibit 76: Chart on Asia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 77: Data Table on Asia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 78: Chart on Asia - Year-over-year growth 2021-2026 (%)
      • Exhibit 79: Data Table on Asia - Year-over-year growth 2021-2026 (%)
    • 8.6 Rest of World (ROW) - Market size and forecast 2021-2026
      • Exhibit 80: Chart on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
      • Exhibit 81: Data Table on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
      • Exhibit 82: Chart on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
      • Exhibit 83: Data Table on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
    • 8.7 US - Market size and forecast 2021-2026
      • Exhibit 84: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 85: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 86: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 87: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 8.8 Japan - Market size and forecast 2021-2026
      • Exhibit 88: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 89: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 90: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 91: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 8.9 China - Market size and forecast 2021-2026
      • Exhibit 92: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 93: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 94: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 95: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 8.10 Germany - Market size and forecast 2021-2026
      • Exhibit 96: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 97: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 98: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 99: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 8.11 France - Market size and forecast 2021-2026
      • Exhibit 100: Chart on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 101: Data Table on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 102: Chart on France - Year-over-year growth 2021-2026 (%)
      • Exhibit 103: Data Table on France - Year-over-year growth 2021-2026 (%)
    • 8.12 Market opportunity by geography
      • Exhibit 104: Market opportunity by geography ($ million)

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • 9.3 Impact of drivers and challenges
          • Exhibit 105: Impact of drivers and challenges in 2021 and 2026
        • 9.4 Market trends

          10 Vendor Landscape

          • 10.1 Overview
            • 10.2 Vendor landscape
              • Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
            • 10.3 Landscape disruption
              • Exhibit 107: Overview on factors of disruption
            • 10.4 Industry risks
              • Exhibit 108: Impact of key risks on business

            11 Vendor Analysis

            • 11.1 Vendors covered
              • Exhibit 109: Vendors covered
            • 11.2 Market positioning of vendors
              • Exhibit 110: Matrix on vendor position and classification
            • 11.3 AH UK Holdco 1 Ltd.
              • Exhibit 111: AH UK Holdco 1 Ltd. - Overview
              • Exhibit 112: AH UK Holdco 1 Ltd. - Product / Service
              • Exhibit 113: AH UK Holdco 1 Ltd. - Key offerings
            • 11.4 Charles River Laboratories International Inc.
              • Exhibit 114: Charles River Laboratories International Inc. - Overview
              • Exhibit 115: Charles River Laboratories International Inc. - Business segments
              • Exhibit 116: Charles River Laboratories International Inc. - Key news
              • Exhibit 117: Charles River Laboratories International Inc. - Key offerings
              • Exhibit 118: Charles River Laboratories International Inc. - Segment focus
            • 11.5 Eurofins Scientific SE
              • Exhibit 119: Eurofins Scientific SE - Overview
              • Exhibit 120: Eurofins Scientific SE - Business segments
              • Exhibit 121: Eurofins Scientific SE - Key news
              • Exhibit 122: Eurofins Scientific SE - Key offerings
              • Exhibit 123: Eurofins Scientific SE - Segment focus
            • 11.6 ICON plc
              • Exhibit 124: ICON plc - Overview
              • Exhibit 125: ICON plc - Product / Service
              • Exhibit 126: ICON plc - Key offerings
            • 11.7 IQVIA Holdings Inc.
              • Exhibit 127: IQVIA Holdings Inc. - Overview
              • Exhibit 128: IQVIA Holdings Inc. - Business segments
              • Exhibit 129: IQVIA Holdings Inc. - Key news
              • Exhibit 130: IQVIA Holdings Inc. - Key offerings
              • Exhibit 131: IQVIA Holdings Inc. - Segment focus
            • 11.8 Laboratory Corp. of America Holdings
              • Exhibit 132: Laboratory Corp. of America Holdings - Overview
              • Exhibit 133: Laboratory Corp. of America Holdings - Business segments
              • Exhibit 134: Laboratory Corp. of America Holdings - Key news
              • Exhibit 135: Laboratory Corp. of America Holdings - Key offerings
              • Exhibit 136: Laboratory Corp. of America Holdings - Segment focus
            • 11.9 Parexel International Corp.
              • Exhibit 137: Parexel International Corp. - Overview
              • Exhibit 138: Parexel International Corp. - Product / Service
              • Exhibit 139: Parexel International Corp. - Key news
              • Exhibit 140: Parexel International Corp. - Key offerings
            • 11.10 Syneos Health Inc.
              • Exhibit 141: Syneos Health Inc. - Overview
              • Exhibit 142: Syneos Health Inc. - Business segments
              • Exhibit 143: Syneos Health Inc. - Key offerings
              • Exhibit 144: Syneos Health Inc. - Segment focus
            • 11.11 Thermo Fisher Scientific Inc.
              • Exhibit 145: Thermo Fisher Scientific Inc. - Overview
              • Exhibit 146: Thermo Fisher Scientific Inc. - Business segments
              • Exhibit 147: Thermo Fisher Scientific Inc. - Key news
              • Exhibit 148: Thermo Fisher Scientific Inc. - Key offerings
              • Exhibit 149: Thermo Fisher Scientific Inc. - Segment focus
            • 11.12 WuXi AppTec Co. Ltd.
              • Exhibit 150: WuXi AppTec Co. Ltd. - Overview
              • Exhibit 151: WuXi AppTec Co. Ltd. - Business segments
              • Exhibit 152: WuXi AppTec Co. Ltd. - Key offerings
              • Exhibit 153: WuXi AppTec Co. Ltd. - Segment focus

            12 Appendix

            • 12.1 Scope of the report
              • 12.2 Inclusions and exclusions checklist
                • Exhibit 154: Inclusions checklist
                • Exhibit 155: Exclusions checklist
              • 12.3 Currency conversion rates for US$
                • Exhibit 156: Currency conversion rates for US$
              • 12.4 Research methodology
                • Exhibit 157: Research methodology
                • Exhibit 158: Validation techniques employed for market sizing
                • Exhibit 159: Information sources
              • 12.5 List of abbreviations
                • Exhibit 160: List of abbreviations
              • growth due to the increasing number of tests for infectious and chronic diseases: The incidence of infectious and chronic diseases has increased over the past decade. The outbreak of the COVID-19 pandemic in 2020 has increased the demand for laboratory testing for COVID-19 across the world. An increase in demand for laboratory testing for infectious diseases, such as COVID-19 and chronic diseases, will be a driver for the life sciences tools and services industry in the future. The growth of the tools and services industry will continue to be strong in emerging markets such as China and India. Developed economies such as Japan and the EU will exhibit moderate growth rates.
                • product development to decrease prices: As the pricing pressure increases, life sciences tools manufacturers will have to rethink product development processes. A value first product design philosophy can help control costs and deliver what customers value the most.

                  Research Framework

                  Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                  INFORMATION SOURCES

                  Primary sources

                  • Manufacturers and suppliers
                  • Channel partners
                  • Industry experts
                  • Strategic decision makers

                  Secondary sources

                  • Industry journals and periodicals
                  • Government data
                  • Financial reports of key industry players
                  • Historical data
                  • Press releases

                  DATA ANALYSIS

                  Data Synthesis

                  • Collation of data
                  • Estimation of key figures
                  • Analysis of derived insights

                  Data Validation

                  • Triangulation with data models
                  • Reference against proprietary databases
                  • Corroboration with industry experts

                  REPORT WRITING

                  Qualitative

                  • Market drivers
                  • Market challenges
                  • Market trends
                  • Five forces analysis

                  Quantitative

                  • Market size and forecast
                  • Market segmentation
                  • Geographical insights
                  • Competitive landscape

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                  Key Questions Answered

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                  • What are the revenue-generating key market segments?
                  • What are the key factors driving and challenging this market’s growth?
                  • Who are the key market vendors and their growth strategies?
                  • What are the latest trends influencing the growth of this market?
                  • What are the variables influencing the market growth in the primary regions?
                  • What are the factors influencing the growth of the parent market?

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