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    Europe Contract Research Organization (CRO) Market Forecast 2028 By Service Type (Early Phase Development Services {Discovery Services, Chemistry, Manufacturing & Control (CMC), Pre-clinical Services [Pharmacokinetics/Pharmacodynamics (PK/PD), Toxicology Testing Services]}, Clinical Research Services {Phase I, Phase II, Phase III, Phase IV}, Laboratory Services {Bioanalytical Testing Services, Analytical Testing Services [Physical Characterization, Raw Material Testing, Batch Release Testing, Stability Testing]}, Consulting Services), By Therapeutic Area (Oncology, Clinical Pharmacology, Cardiology, Infectious Disease, Neurology, Gastroenterology & Hepatology, Ophthalmology), By End-use (Pharmaceutical & Biopharmaceutical Companies, Medical Device Companies, Academic Institutes), Research Report, Country Outlook (UK, Germany, Italy, Spain, France, Netherlands, Belgium, Turkey, Poland, Denmark, Switzerland), Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
    Published Date: March 2022   |   Report ID: GR2090   |   Delivery: PDF  Request Free Sample

    Europe Contract Research Organization (CRO) Market size exceeded USD 17.4 billion in 2021 and is anticipated to witness 6.5% CAGR between 2022 and 2028. Growing outsourcing of R&D activities is one of the major reasons in increasing demand of contract research organization (CROs). R&D activities is an essential part of any company's business to come up with active ingredients or new molecules with the greatest commercial and medical potential for various therapeutic applications.

    Europe Contract Research Organization (CRO) Market

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    Increasing prevalence of different types of diseases in the region also compels the companies to develop advanced therapeutic products, laying significant emphasis on conducting clinical trials. On the regulatory front, European Union implements some of the most stringent regulations globally for the approval and operations of clinical trials. For instance, in January 2022, a new Clinical Trials Regulation is set to be implemented across EU in order to streamline and harmonize the process of application and supervision of clinical trials across the Member States of the EU.

    Europe Market, By Service Type

    The clinical research services segment in the Europe contract research organization (CRO) market will showcase around 6.7% growth rate during the forecast timeframe. The CROs provides dedicated support to pharmaceutical and biotechnology companies through all stages of their clinical trials including phase I, II, III and phase IV, thereby supplementing the segment growth. Moreover, the completion of clinical trials is a very lengthy process, that typically required 6–7 years. Therefore, outsourcing of these activities will allows the sponsor company to operate with great flexibility and gain access to a broad range of expertise.

    Europe Contract Research Organization (CRO) Market, By End-use

    The pharmaceutical & biopharmaceutical companies’ segment will reach USD 15.3 billion revenue by 2028. High growth is owing to increasing prevalence of various chronic diseases such as cancer, cardiac disease, neurological and infectious disease.

    This is further encouraging pharmaceutical & biopharmaceutical companies to increase investment in the development of novel drugs that will upsurge the demand for CRO services. Also, these companies are adopting strategy to remain competitive and flexible in growing knowledge, advancing technologies, and sustain an uneven economic environment.

    Europe Market, By Country

    Italy contract research organization (CRO) market will expand at a CAGR of 6% to cross USD 2.8 billion revenue by 2028, attributed to the increasing prevalence of infectious disease. For instance, in 2020, according to the Knoema report, incidence of tuberculosis in Italy was nearly 6.6 cases per 100,000 people. Thus, growing diseases burden in the country will boost the companies to conduct clinical trials for disease treatment. Moreover, several factors such as high healthcare standards, broad government support, universal insurance coverage and strong pharmaceutical base in the country propel the country to be one of the frontrunners in the European market.

    Competitive Industry Landscape

    Prominent participants operating across the Europe contract research organization (CRO) market are Charles River Laboratories, EPS International Co., Ltd, ICON plc, Parexel International Corporation, and IQVIA among others. Players undertake various strategies such as new product launch, mergers, acquisitions, collaborations, geographic expansions to strengthen their market position.

    Frequently Asked Question(FAQ) :

    How big is the Europe CRO market?
    The market share for contract research organization (CRO) in Europe was crossed USD 17.4 billion in 2021 and is expected to exhibit a CAGR of 6.5% from 2022 to 2028 driven by the rising outsourcing of R&D activities.
    What aspects will drive Europe CRO industry share from clinical research services?
    The market revenue from clinical research services is estimated to record a growth rate of 6.7% through 2028 considering the rising demand for dedicated support from biotechnology and pharmaceutical companies.
    Why is the contract research organization (CRO) segment growing in Italy?
    The market size for contract research organization (CRO) in Italy is expected to exceed USD 2.8 billion until 2028 owing to the surging prevalence of infectious diseases.
    Which are major players in the Europe CRO landscape?
    Leading participants across the Europe industry comprise ICON plc, Charles River Laboratories, IQVIA, Parexel International Corporation, EPS International Co., Ltd, and others.

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