BANGALORE, India, Aug. 11, 2021 /PRNewswire/ Contract Research Organization Market by Product-Type: Biologic Assay Development, Clinical/Preclinical Research, Commercialization and Clinical
Healthcare Contract Research Organization Market to Grow at a CAGR of 6.8% During 2020-2025 Increased Focus on Drug Development for Rare Diseases Driving the Growth of Healthcare Contract Research Organization Market.
BriefingWire.com, 1/11/2021 - Healthcare Contract Research Organization Market size is estimated to be $38 billion in 2019, growing at a CAGR of 6.8% during the forecast period 2020-2025. Healthcare Contract Research Organization is independent organizations outsourced by other companies in order to perform research which includes pre-clinical to post clinical stages depending on the company requirements. The major revenue source of CROs comes from the Research and development budget of the sponsor companies majorly from Pharma and Biotech sector. The wide source of revenue comes from biopharmaceutical firms, in recent years owing to more R&D scrutiny and patent expiration on drug discovery has resulted into more reliability towards ou