The number of clinical trials is increasing as companies are focusing on finding a cure for diseases that have higher incidence rates such as cancer, autoimmune diseases, and infectious diseases, among others. As the development process is very lengthy many companies outsource these activities to CROs. However, differing regulations for clinical trials in different countries hamper the growth of CRO services market to a certain extent. Most of the clinical trial relates processes are outsourced to countries such as Japan, India, and China owing to the presence of a larger patient population base. However, as the guidelines and other processes such as filling vary, they act as a barrier for the CRO service market growth.

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Development and commercialization of a new drug is a tedious process and requires a well-developed infrastructure and well-trained professionals. Thus, big pharmaceutical & biotech companies outsource these processes to CRO service companies that do this work for them. There are several benefits of outsourcing drug development that include reduced or control operational and labor costs as well as enables their company to utilize internal resources for the core business development.

Some of the prominent players operating in the Contract Research Organization (CRO) Services Market includes: -

 IQVIA
 Charles River Laboratories
 WuXi AppTec
 Laboratory Corporation of America Holdings
 Parexel International Corporation
 PPD Inc
 Eurofins Scientific
 Icon plc
 Syneos Health
 PRA Health Sciences
 among others.

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