Hybridization of Clinical Trial Designs will Accelerate Growth of the Post-pandemic Global CRO Segment
Patient-centric and safety-focused logistical solutions will create new growth opportunities
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With the increased threat of COVID-19 and worldwide lockdowns in effect, the CRO market is experiencing interruptions in ongoing clinical trials and delays in new trials. Recovery is expected to commence from 2023; although it will be staggered, it will take revenue to the original growth trajectory by 2024–2025. In our new research service, we analyze the regions and therapy areas, which have been impacted the most and also growth opportunities for CROs to create a stronger risk insulation for the future.
Due to the impact of the coronavirus, many large pharmaceutical companies have placed new trials on hold and numerous small, mid-size, and large enterprises have suspended ongoing ones, thereby demonstrating the magnitude of the disruption. However, rapid recovery is also anticipated due to the proliferation of new clinical trial approaches/models, which make use of virtual trial tools and evolving regulatory policies.
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