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The global CRO market is in the midst of a major transformation, a process that was accelerated by the COVID-19 pandemic. The transformation is triggering change in the investment landscape and partnerships across the industry. In a race to retain market position, CROs may continue to engage in M&A activity and strategic partnerships to secure market leadership in delivering seamless decentralized trials globally as in case of ICONs announcement to acquire PRA Health that positions ICON to emerge as one of the top three global CRO's. Covid-19 driven changes in the regulatory frameworks will foster higher collaboration of Pharma/ Biotech companies with CROs as the companies strive to maintain their costs.

Higher forecasted R&D spends by small mid-size and emerging Biopharma Company’s offer huge opportunity for CROs to achieve growth by supporting their research and development needs.

This report provides an overview of the key outsourcing trends for drug-discovery, pre-clinical and clinical research segments, challenges faced by sponsors/ biotech companies, and how CROs and technology companies can support the emerging needs around patient-centric clinical trial delivery models, today and in 2026. The report highlights the forecast for drug discovery, pre-clinical and clinical segments of the CRO market , highlights the new emerging stakeholders in the clinical research ecosystem and addresses the regional trends driving the clinical CRO segment by Phase of the trials. Additionally, the report identifies 4 key growth opportunities critical for differentiating in the CRO market going forward until 2026.