, /PRNewswire/ -- The global size is estimated to grow by billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 12.61% during the forecast period.
For more insights on the forecast market size and historic data (2018 - 2022) - Contract Research Organizations (CROs) provide clinical research services, which include strategic planning, execution, and oversight of clinical trials. They design trial protocols, identify investigative sites, manage patient recruitment, and ensure regulatory compliance. CROs collaborate with research centers for tissue-based clinical research, sponsored by key players or governments.
In , Parexel announced a referral agreement with MyEyeDr. for ophthalmology clinical trials, expanding into endocrinology. Such collaborations accelerate drug development and contribute to market growth during the forecast period.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) - The global Contract Research Organization (CRO) market is experiencing growth due to increasing government initiatives to support clinical trials for new drugs, biologics, and medical devices. These initiatives include funding and training for Good Clinical Practices (GCP), leading to an increase in clinical trials in regional markets. The demand for clinical trial supplies, particularly cold chain storage, is rising due to the temperature-sensitive nature of biologics and .
