Clinical Research Organization Procurement Intelligence is expected to grow at a CAGR of 12.2% from 2023 to 2030
Clinical Research Organization Procurement Intelligence The clinical research organization category is expected to grow at a CAGR of 12.2% from 2023 to 2030. In 2022, North America held a 40% share of the market. This is linked to the region's concentration of large pharmaceutical corporations, which are also known for their extensive drug development efforts and first-rate healthcare systems. In addition, due to changes in the market and reimbursement from generic pharmaceuticals, a number of significant pharmaceutical businesses in this region are outsourcing R&D and clinical trials. Clinical trials are complex and require many resources. Outsourcing clinical trials to CROs can help pharmaceutical and biotech companies reduce costs, streamline business operations, and increase productivity. As more pharmaceutical companies outsource their clinical studies, the demand for CROs is growing. Companies are continuously focusing on collaborating or developi...