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Medical Device CROs Market
The medical device CROs market projected to be worth USD 12.1 billion by 2030, predicts Roots Analysis
Shifali Gupta, the principal analyst, stated, “Given the complex R&D protocols and the increasing demand for clinical evidence of therapeutic benefit, the opportunity for contract research providers in the medical devices domain is on the rise. Since 2000, close to 130 new CROs have been established, offering a variety of cost-efficient services and solutions to medical device developers.”
The report presents opinions on several key aspects of the market. Among other elements, it includes:
- An overview of the current market landscape, featuring a comprehensive list of over 300 active medical device CROs with detailed analysis based on a number of parameters, such as geographical location, year of establishment, company size, scale of operation (clinical and preclinical), types of services provided by [A] clinical service providers (biostatistics, consulting, clinical operations, post marketing surveillance / studies, quality assurance, regulatory affairs management, reimbursement, resourcing and training), [B] preclinical service providers (consulting, biocompatibility testing, materials characterization and analytical testing, preclinical trials support, sterility testing and microbiology testing, and training) and [C] stand-alone service providers (biostatistics, consulting, data management, pharmacovigilance, quality assurance, and regulatory affairs management), and popular therapeutic areas. Most contemporary CROs (82%) are based in North America and Europe. However, a relatively growing proportion of such players are situated in the Asia Pacific region, catering to the needs of emerging economies, such as China and India.
- A benchmarking analysis, highlighting the key focus areas of small-sized, mid-sized and large companies, comparing their existing capabilities within and beyond their respective peer groups, thereby, providing a means for stakeholders to identify ways to gain a competitive edge in the industry. It is worth mentioning that the market landscape is highly fragmented, featuring a mix of small-sized (<50 employees, 58%), mid-sized (50-200 employees, 23%), large (200-1,000 employees, 14%) and very large companies (>1,000 employees, 5%). Examples of established players (having more than 1,000 employees) include Charles River Laboratories, Chiltern, CMIC Group, Eurofins Scientific, FMD K&L, ICON, Medpace, NAMSA, Novella Clinical, Pharmaceutical Product Development (PPD), and WuXi AppTec.
- A comprehensive analysis of ongoing and planned clinical studies related to medical devices across various geographies, based on parameters such as number of registered trials, current status of trials, key therapeutic area(s) and disease indication(s), and number of patients enrolled. Presently, there are close to 7,000 registered (ongoing / planned) clinical studies of medical devices, with combined enrolled patient population of more than 3 million. It is worth mentioning that, amongst others, cardiovascular disorders (12%) and oncological disorders (9%) emerged as prominent therapeutic areas being targeted by medical device developers.
- An analysis of the mergers and acquisitions that have taken place in this domain, highlighting the trend in the number of companies acquired between 2012 and 2018, across different geographies. It includes an ownership change matrix that provides a summary of the involvement of private and public sector entities in this domain. Recent examples of companies that have been acquired include (in chronological order) Hilbert Paradox (March 2018), MPI Research (April 2018), Fiver Corners (June 2018), Cobridge (September 2018) and DZS Clinical Services (September 2018).
- An insightful survey analysis featuring inputs solicited from various experts who are directly / indirectly involved in providing contract research services to medical device developers.
- A review of the various guidelines established by major regulatory bodies for medical device approval, across different countries. It includes an insightful multi-dimensional, heat map analysis, featuring a comparison of the contemporary regulatory scenario in key geographies across the globe.
For additional details, please visit https://www.rootsanalysis.com/reports/market-reports/view_document/medical-device-cros-market/226.html or email email@example.com
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