Global Healthcare Contract Research and Manufacturing Outsourcing (CRO) Market 2018-2022

healthcare contract research and manufacturing outsourcing market will register a CAGR close to 12% by 2022.

Based on healthcare CRO market analysis, the growth of the healthcare contract research and manufacturing outsourcing market will accelerate during the next few years and countries in the Americas will contribute to the major growth of the healthcare CRO market size. Owing to the early penetration of vendors in the advanced economies such as the US, the Americas will account for the maximum share of this healthcare outsourcing market throughout the forecast period.

“More than 39% of the incremental growth will be from the Americas”, says a senior market research analyst at Technavio for the new research areas industry. “The growth in the number of M&A activities is gaining traction in the market. A significant number of medical devices and pharmaceutical and biotechnology companies have reduced their R&D and operation budgets, in turn, increasing the demand for outsourcing drug discovery and medical device development. Strategic partnerships between pharmaceutical companies and CROs have resulted in the reduction of spending on manufacturing.”

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Charles River and Piramal Enterprises are among the leading companies in the healthcare contract research and manufacturing outsourcing market

According to the CRO industry overview, the healthcare contract research and manufacturing outsourcing market is moderately fragmented owing to the presence of several players focusing on innovative promotional activities. The rising emphasis on improving the distribution network and increasing availability of products for the end-users will result in a more fragmented market where the level of competition is quite intense. With the need to differentiate their products from their competitors', companies have already started focusing on acquiring emerging players while establishing their robust position in the market.

This research report provides a detailed analysis of various companies in the healthcare contract research and manufacturing outsourcing market including:

• Charles River
• FLEX
• Laboratory Corporation of America
• Piramal Enterprises
• Syneos Health
• TE Connectivity

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Rising focus on drug discovery and development is contributing to the growth of the market

Various stakeholders of the healthcare industry including pharmaceutical and biotechnology companies and research institutes are increasingly focusing and spending on R&D for drug discovery and development due to the rise in prevalence of chronic diseases such as chronic obstructive pulmonary disease and type 2 diabetes. The outsourcing of drug manufacturing enables these companies to optimally deploy internal resources so that they can focus on their core competencies, in turn, fostering the demand for healthcare contract research and manufacturing outsourcing solution.

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