Specialty CRO’s Market Size, Share, Outlook, and Opportunity Analysis, 2018-2026.

1. SPECIALTY CRO'S MARKET ANALYSIS INDUSTRY INSIGHTS, TRENDS, OUTLOOK, AND OPPORTUNITY ANALYSIS, 2020–2027 © Coherent market Insights. All Rights Reserved © Coherent market Insights. All Rights Reserved

2. REPORT DESCRIPTION Specialty CRO’s Market - Overview Regional Insights On the basis of geography, global Specialty Cros Market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to dominate the market over the forecast period, owing to the fact that pharmaceutical and biotech companies in this region spends significant amount on research and development, in order to bring novel therapies to the market. As per the estimation of Pharmaceutical Research and Manufacturers of America (PhRMA) in 2017, on an average the pharmaceutical industry invested around US$ 0.8 billion to US$ 1.7 billion on research and development. According to the U.S. National Library for Medicine, by January 2018, around 264,099 clinical studies were registered, which included all the healthcare product spectrum. Asia Pacific is expected to provide lucrative opportunities for market growth due to the cost effective services offered to the CROs in this region, large number of skilled human resources, and availability of large patient pool. Specialty clinical research organizations are distinct service providers in clinical research domain with expertise based on different criteria. Earlier pharmaceutical and biotech firms, which are research driven had conducted majority of the clinical research. However, since last two decades, most of the clinical trial tasks such as lead discovery, preclinical studies. Browse Research Reports: https://www.coherentmarketinsights.com/ongoing- insight/specialty-cros-market-1627 © Coherent market Insights. All Rights Reserved

3. REPORT DESCRIPTION Specialty CROs offers advantage over conventional CROs, as they are focused on specific area of application based either on therapeutic area or specialty service they offer. Specialty CROs offer solutions to the problems in clinical research such as increasing developmental cost, high rate of lead candidate failure during clinical trial, and stringent regulatory demands such as clinical protocols across the globe. Although it is still considered as an emerging model across the globe, it is gaining significant traction in the Asian economies. Specialty CROs are playing a major role in mid-size or small pharmaceutical and biotech firms, which are working in niche area and has unique clinical research needs. Moreover, they offer cost effective and economical services as compared with large CROs. Large CROs are increasingly focusing on approaching specialty CROs, as they find it difficult to cater to unique problems. Market Dynamics Specialty CROs are majorly providing services to the pharmaceutical and biotech companies and this is expected to gain traction in the near future, owing to increased research and development activities by these companies. Pharmaceutical and biotech companies are engaged in discovering novel molecules to treat chronic diseases such as cancer and cardiovascular diseases. According to a report published by the International Federation of Pharmaceutical Manufacturer and Association in 2017, pharmaceutical industry invested around US$ 149.8 billion on research and development annually. The companies are downsizing this cost by outsourcing clinical research activities. Request a Sample copy of this reports : https://www.coherentmarketinsights.com/insight/request-sample/1627 © Coherent market Insights. All Rights Reserved

4. REPORT DESCRIPTION However, rising instances of clinical failure of drugs on entering clinical trial phase is expected to hamper the growth of specialty CROs market. According to the U.S. FDA data, there were more than 25 clinical trials failure cases in the year 2017, most of which were targeted towards cancer treatment. Furthermore, there is risk of intellectual property theft in which crucial data related with drug candidate under investigation is vulnerable to misuse. This is especially case in CROs which are established in developing countries such as India, China. Competitive Landscape Some of key players operating in the specialty CROs market include Charles River Laboratories, Profil Abiogenesis Clinpharm, Accell Clinical Research, Accelovance, Aclires, Acquipharma, Cytespace Africa, DATATRAK International, Afraxis, David H Murdock Research Institute, DaVita Clinical Research, Gateway Pharmacology Laboratories, SAGE Labs, and Velesco Pharmaceutical Services. Moreover, rapid advancement in research of personalized therapy such as CAR-T cell therapies and monoclonal antibody based therapy would boost the demand for specialty CROs market. Buy-Now this research report: https://www.coherentmarketinsights.com/insight/buy-now/1627 © Coherent market Insights. All Rights Reserved

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