The Europe contract research organization (CRO) market is expected to reach US$ 22,157.62 Mn in 2025 from US$ 12,476.8 Mn in 2017. The market is estimated to grow with a CAGR of 7.7% from 2018-2025.
The growth of the Contract Research Organization (CRO) market is driven by factors such as a rise in the number of clinical trials. However, the market is likely to get impacted due to the dearth of skilled professionals and regional competition in the CRO services market in the region.
The Europe Contract Research Organization (CRO) Market is growing along with the healthcare industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
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The UK is expected to lead the market in the region owing to increasing expenditure on research and development expenditures in the country. The confrontation between biotechnology and pharmaceutical companies to lower the drug development costs is expected to propel the CROs market in Europe. Moreover, the presence of top revenue-generating pharmaceutical companies that can invest a significant amount in R&D is also expected to boost the growth of CROs in the region.
These factors are expected to offer broad growth opportunities in the healthcare industry and this is expected to cause the demand for Europe Contract Research Organization (CRO) Market in the market.
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EUROPE CONTRACT RESEARCH ORGANIZATION (CRO) – MARKET SEGMENTATION
EUROPE CONTRACT RESEARCH ORGANIZATION (CRO) – By Type
- Clinical Research Services
- Early Phase Development Services
- Laboratory Services
- Post-Approval Services
EUROPE CONTRACT RESEARCH ORGANIZATION (CRO) – By End User
- Pharmaceutical & Biotechnology Companies
- Medical Device Companies
EUROPE CONTRACT RESEARCH ORGANIZATION (CRO) – By Geography
- Laboratory Corporation of America Holdings
- PAREXEL International Corporation
- ICON plc
- Syneos Health
- PRA Health Sciences
- Charles River
- Pharmaceutical Product Development, LLC
- WuXi AppTec
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