The Asia Pacific Healthcare CRO Market would witness market growth of 9% CAGR during the forecast period (2019-2025).
Healthcare and pharmaceutical firms outsource not only the manufacturing of medicines but also their clinical trials. With a surge in the privatization of clinical studies, the outsourcing to developed countries is on the increase. Companies in pharmaceutical and biotechnology have begun outsourcing R&D activities which are complex and require frequent monitoring. Healthcare CROs functions and manages the processes of bringing new products to the market according to the customer’s given timeline. They have the necessary expertise and infrastructure that simultaneously delivers the advantage of cost, time, and efficiency. Emerging economies like Japan, India, and China are the preferred outsourcing hubs.
Due to the rising prevalence of chronic diseases and the increasing demand for innovative and advanced pharmaceutical and biopharmaceutical products in the region, the Asian market is growing at a significant pace. Nonetheless, low R&D costs and increased investments by many manufacturers of pharmaceutical and biopharmaceutical drugs also fuel the growth of the Asian Healthcare CRO industry. The major markets in the region are countries such as India, Japan, and China.
Based on Service Type, the market is segmented into Clinical Research Services, Early Phase Development, Laboratory Services and Consulting Services. Based on End User, the market is segmented into Pharmaceutical companies, Medical Device Companies and Academic Institutes. Based on Therapeutic Area, the market is segmented into Oncology, CNS Disorder, Cardiovascular Disease, Diabetes, Metabolic Diseases, Infectious Diseases and Other therapeutic areas. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include IQVIA Holdings, Inc., Laboratory Corporation of America Holdings (Covance, Inc.), Pharmaceutical Product Development, Inc., Parexel International Corporation (Pamplona Capital Management), Charles River Laboratories International, Inc., ICON PLC, Dassault Systemes SE (Medidata Solutions, Inc.), Syneos Health, Inc., Pharmaron Beijing Co., Ltd., and GVK Biosciences Private Limited.
Scope of the Study
Asia Pacific Healthcare CRO Market Segmentation
By Service Type
- Clinical Research Services
- Early Phase Development
- Laboratory Services and
- Consulting Services
By End User
- Pharmaceutical companies
- Medical Device Companies and
- Academic Institutes
By Therapeutic Area
- CNS Disorder
- Cardiovascular Disease
- Metabolic Diseases
- Infectious Diseases and
- Other therapeutic areas
- South Korea
- Rest of Asia Pacific
- IQVIA Holdings, Inc.
- Laboratory Corporation of America Holdings (Covance, Inc.)
- Pharmaceutical Product Development, Inc.
- Parexel International Corporation (Pamplona Capital Management)
- Charles River Laboratories International, Inc.
- ICON PLC
- Dassault Systemes SE (Medidata Solutions, Inc.)
- Syneos Health, Inc.
- Pharmaron Beijing Co., Ltd.
- GVK Biosciences Private Limited
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