Newly-released Dermatology CRO industry analysis report by Fact.MR shows that global revenue of Dermatology CRO in 2021 was held at US$ 4 Bn. With 9.1%, the projected market growth during 2022 – 2032 is expected to be significantly higher than the historical growth. Clinical type dermatology CRO is expected to be the highest revenue grossing service, accounting for an absolute dollar opportunity of nearly US$ 3.5 Bn during 2022 – 2032.
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Market Segments Covered in Dermatology CRO Industry Analysis
- By Type :
- Drug Discovery
- Target Validation
- Lead Identification
- Lead Optimization
- Phase I
- Phase II
- Phase III
- Phase IV
- Drug Discovery
- By Service :
- Project Management/Clinical Supply Management
- Data Management
- Regulatory/Medical Affairs
- Medical Writing
- Clinical Monitoring
- Quality Management/Assurance
- Investigator Payments
- Patient and Site Recruitment
- Other Services
- By Region :
- North America
- Latin America
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According to the market research analysis, partnerships and expansion have been the prominent development in Dermatology CRO market in recent years. IQVIA HOLDINGS INC., Covance Inc., Pharmaceutical Product Development, LLC (PPD), Parexel International Corporation, Charles River Laboratories International, Inc., Icon, Plc, Medidata Solutions, Inc., Syneos Health, Pharmaron, GVK Biosciences Private Limited, Wuxi AppTec, MEDPACE HOLDINGS, INC., PRA Health Sciences, CTI Clinical Trial & Consulting, Bioskin, Proinnovera, Biorasi, Javara, TFS are the prominent providers of Dermatology CRO services.
Some of the recent developments of key Dermatology CRO providers are as follows:
- In 2021 Thermo Fisher signed a binding deal to buy PPD for US$ 17.4 Bn. This purchase will greatly strengthen Thermo Fisher’s position in the clinical research services market, particularly in the early phase clinical trials business. In addition to strengthening their services, healthcare contract research businesses are aiming to provide their services on a worldwide basis.
- In February 2021, Icon plc signed a binding deal to buy PRA Health Sciences for a valuation of around US$ 12 Bn. Customers will benefit from the merged firm because of the enhanced geographic, functional, and therapeutic scale.
- In October 2019, Parexel strengthened its ties with the Society for Clinical Research Sites (SCRS), to safeguard the interests of clinical research sites. The company implemented many significant initiatives as a Site Engagement Partner targeted at enhancing the patient experience in clinical trials.
Similarly, recent developments related to companies offering Dermatology CRO have been tracked by the team at Fact.MR, which are available in the full report.
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How Has COVID-19 Impacted Revenue Generation from Dermatology CRO?
The necessity of virtual trials and the utilisation of technology and software solutions has been underlined by the COVID-19 pandemic. The increased use of machine learning-based platforms, artificial intelligence, and creative trial designs is projected to change the dermatological CRO landscape in the next years. Biopharmaceutical and pharmaceutical investments in innovative and revolutionary therapies, such as regenerative medicine, and drug development services, are driving R&D activities. Experts and skills in a range of therapeutic disciplines are still needed by sponsors.
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