Contract Research Organization Services Market - Global Market Size, Share, Trend, Market Growth, Analysis And Industry Forecasts to 2025
The latest market report published by Credence Research, Inc. “ Contract Research Organization Services Market , By Service Type, Research Type and Client Type - Growth, Future Prospects and Competitive Analysis, 2016 - 2023,” the global contract research organization (CRO) services market was valued at US$ 25.9 Mn in 2015, and is expected to reach US$ 44.8 Mn by 2023, expanding at a CAGR of 7.1% from 2016 to 2023. Market Insights The global CRO market has witnessed a significant rise in strategic mergers and collaborations among CRO vendors. Such growth strategies are focused at augmenting their service portfolio or develop their niche in select countries. Large scale pharmaceutical companies in countries such as North America, Europe and Asia Pacific are increasingly indulging in CRO activities due to availability of large pool of trial eligible patients, desire to reduce costs and growing need to focus on core competencies. With further expansion and consolidation activities