Clinical Research Services Market Procurement Intelligence Report | SpendEdge Forecasts over USD 14 Billion Spend Growth in the Clinical Research Services Market
LONDON--(BUSINESS WIRE)--Jan 31, 2020--
SpendEdge has been monitoring the global clinical research services market and the market is poised to experience spend growth of more than USD 14 billion between 2019-2024 at a CAGR of over 6% during the forecast period. Request Free Sample Pages.
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Buyers from the pharmaceutical industry are facing the pressing necessity to increase their adoption of various clinical research services. These services are aimed at developing new drugs and treatments to address the increasing onset of chronic ailments and to cater to the medical needs of the aging demography. This is serving as one of the primary spend growth drivers in the global clinical research services market. Meanwhile, the global clinical service providers are entering into strategic partnerships with their regional counterparts to retain local clinical trial sites to enable the local population to run clinical trials. This is functional in reducing the cost of acquiring patients.
In terms of spend share, North America is dominating the market owing to the rapid growth in the biosimilar and biologics market and the growing demand for outsourcing clinical research services to CROs by pharmaceutical and biopharmaceutical companies. Pharmaceutical companies in Europe are conducting research on gene therapy studies to treat rare diseases. This is driving spend momentum in the clinical research services market in this region.
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Some of the top clinical research service providers enlisted in this report
This clinical research services market procurement intelligence report has enlisted the top service providers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.
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INDUSTRY KEYWORD: HEALTH CLINICAL TRIALS
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PUB: 01/31/2020 08:30 AM/DISC: 01/31/2020 08:30 AM