In addition, they provide clinical trial management services. Most of these organizations focus on clinical studies for drugs and medical devices that target cancer. The growth of this industry is driven by several factors including the increasing number of new drugs and medical devices in development.
A number of companies compete in the industry. Some of these companies are Charles River Laboratories, Laboratory Corporation of America Holdings, PAREXEL International, and Syneos Health.
Using IBIS World, you can compare these companies to each other and to their industry segments to assess their financial strength and growth potential. Increasing incidences of chronic diseases are projected to drive market growth for Contract Research Organization List. Other factors include the growing use of tobacco and unhealthy lifestyles.
Increasing R&D expenditures are also fueling the industry. Companies in the industry of contract research organization should focus on improving their clinical trial contracts to meet these demands.
The market for contract research organizations is highly fragmented. However, there are several high-profile players. Most companies participate in multiple CRO segments. Companies in the industry require a minimum investment of capital, but the benefits of this investment are significant. The industry is also highly competitive and requires long-term strategic partnerships to remain competitive.
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