/PRNewswire/ The global dermatology CRO market size is expected to reach USD 7.04 billion by 2028, according to a new report by Grand View Research, Inc. It.
The global healthcare contract research organization market size is expected to reach USD 66.1 billion by 2028
It is expected to expand at a CAGR of 6.6% from 2021 to 2028. The increasing cost of drug development is expected to drive the market over the forecast period.
Moreover, rising clinical trial cost and challenges pertaining to patient recruitment have led biopharmaceutical companies to turn to regions like Central and Eastern Europe, Asia Pacific, Latin America, and the Middle East for cost savings and quick patient recruitment.
In addition, growing pressure on industry players to follow stringent timelines has increased the demand for outsourcing research activities to contract research organizations (CROs). Some government organizations are also outsourcing their clinical trial activities so that they can carry out clinical trials with the required infrastructure and expertise and minimize their cost and timelines.