Apr 23, 2020   SOURCE: PR NewsWire

China's Contract Research Organization (CRO) Market, Forecast to 2024: A $27+ Billion Opportunity Assessment

DUBLIN, April 23, 2020 /PRNewswire/ -- The "China Contract Research Organization (CRO) Market (Clinical, Pre-clinical & Discovery): Insights, Trends and Forecast (2020-2024)" report has been added to ResearchAndMarkets.com's offering.

http://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

China's CRO market value is anticipated to reach US$27.04 billion in 2024, growing at a CAGR of 27.06%, for the period spanning from 2020 to 2024.

The factors such as increasing biologics sales, rising geriatric population, growing investment in the healthcare sector, accelerating number of innovative drug IND filings, inclining drug research and development expenditures and unmet treatment needs are expected to drive the market. However, the growth of the industry would be challenged by the U.S. and China trade tensions, growing competition and regulatory compliance. A few notable trends include increasing consolidation activities, adoption of AI technology and the emergence of e-clinical technology.

During previous years, the CRO industry has grown from limited clinical trial services provider to a full-service industry characterized by broad relationships with clients and service offerings that encompass the entire drug development process. In addition, CROs provide services that generate high quality and timely data in support of applications for regulatory approval of new drugs or reformulations of existing drugs as well as marketing claims. They also leverage selected information technologies and procedures to efficiently capture, manage and analyze the large streams of data generated during a clinical trial.

Clinical services are the most consumed CRO service owing to growth in large molecule drug development outsourcing activities by drug-maker. Increasing research grants from the government, the growing availability of skilled medical researchers and rising outsourcing of point-of-care (POC) testing services are driving the industry.

Scope of the Report

    --  The report provides a comprehensive analysis of the China CRO market,
        segmented on the basis of service type i.e. Clinical, Pre-clinical &
        Discovery and Drug Type i.e. Biologics & Chemical Drug.
    --  Market dynamics such as growth drivers, market trends and challenges are
        analysed in-depth.
    --  The competitive landscape of the market, along with the company profiles
        of leading players i.e. IQVIA Holdings, Inc., Laboratory Corporation of
        America Holdings, Syneos Health Inc., PRA Health Sciences, Medpace
        Holdings Inc. and Wuxi AppTec Co. Ltd. are also presented in detail.

Key Topics Covered

1. Market Overview
1.1 Introduction
1.2 CRO and Drug Makers
1.3 Departments in CRO
1.4 Advantages of Hiring CRO

2. Global CRO Market Analysis
2.1 Global CRO Market Value
2.2 Global CRO Market Value Forecast
2.3 Global CRO Market Value by Service Type
2.4 Global CRO Market Value by Drug Type
2.5 Global CRO Market Value by Region

3. China CRO Market Analysis
3.1 China CRO Market Value
3.2 China CRO Market Value Forecast
3.3 China CRO Market Value by Service Type
3.3.1 China Clinical CRO Market Value
3.3.2 China Clinical CRO Market Value Forecast
3.3.3 China Pre-clinical CRO Market Value
3.3.4 China Pre-clinical CRO Market Value Forecast
3.3.5 China Discovery CRO Market Value
3.3.6 China Discovery CRO Market Value Forecast
3.4 China CRO Market Value by Drug Type
3.3.1 China Chemical Drug CRO Market Value
3.3.2 China Chemical Drug CRO Market Value Forecast
3.3.3 China Biologics CRO Market Value
3.3.4 China Biologics CRO Market Value Forecast
3.5 China CRO Market Value by End User

4. Market Dynamics
4.1 Growth Drivers
4.1.1 Increasing Biologics Sales
4.1.2 Rising Geriatric Population
4.1.3 Growing Investment in Healthcare Sector
4.1.4 Accelerating Number of Innovative Drug IND Filings
4.1.5 Inclining Drug Research and Development Expenditures
4.1.6 Unmet Treatment Needs
4.2 Key Trends and Developments
4.2.1 Increasing Consolidation Activities
4.2.2 Adoption of AI Technology
4.2.3 Emergence of e-Clinical Technology
4.3 Challenges
4.3.1 The U.S. and China Trade Tensions
4.3.2 Growing Competition
4.3.3 Regulatory Compliance

5. Competitive Landscape
5.1 Global CRO Market
5.1.1 Key Players - Market Share Comparison
5.1.2 Key Players - Revenue Comparison
5.1.3 Key Players - Drug Development Outsourcing Service Comparison
5.1.4 Key Players - Market Cap Comparison
5.2 China CRO Market
5.2.1 Key Players - Market Share Comparison

6. Company Profiles
6.1 IQVIA Holdings, Inc.
6.1.1 Business Overview
6.1.2 Financial Overview
6.1.3 Business Strategy
6.2 Laboratory Corporation of America Holdings
6.3 Syneos Health Inc.
6.4 PRA Health Sciences
6.5 Medpace Holdings Inc.
6.6 Wuxi AppTec Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/5lplyb

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

View original content:http://www.prnewswire.com/news-releases/chinas-contract-research-organization-cro-market-forecast-to-2024-a-27-billion-opportunity-assessment-301046026.html

SOURCE Research and Markets