Contract Research Organization Market to Grow at a CAGR of 8.36% by 2026 | TechSci Research

Growing expenses for research and development is driving the growth of the global contract research organization market during 2016-2026.

According to TechSci Research report, “Global Contract Research Organization Market By Service (Clinical Research Services, Early Phase Development Services, Laboratory Services, Consulting Services and Data Management Services), By Application (Oncology, Central Nervous System, Autoimmune/ Inflammation Diabetes, Cardiovascular, Others), By End User (Pharmaceutical and Biopharmaceutical Companies, Medical Device Companies, Academic Institutes and Others), By Company, By Region, Competition Forecast & Opportunities, 2026”, the global contract research organization market was valued at USD61.13 billion in 2020 and is expected to reach USD99.65 billion in 2026 by registering a growing CAGR of 8.36%. This market has shown a consistent growth in the past years, but the recent wake of enhanced and rapid research work is expected to boost the growth in the forecast period. Government aid and humanitarian support towards the research and development of effective drugs, effective treatment plans and their performances on the diseases by conducting human trials are also supporting the growth of the global contract research organization market positively.

Contract research organizations (CROs) are organizational systems that help pharmaceutical and biopharmaceutical companies with their drug trials, data management, and performs long term and strategic role in the developmental processes. These organizations are rapidly increasing, and the market is growing on the need to finding cure for terminal and unknown diseases. Moreover, colleges and universities are actively promoting higher studies and doctoral research which is boosting the growth of the global contract research organization market in next five years.

The onset of COVID-19 and urgency to find the cure, prevention, and containment of the virus drove the market growth to rise exponentially in 2020. Countries across the world were cumulatively putting in their effort to find the vaccine for this disease that caused millions of deaths in the span of a few months. By the middle of the year, vaccines were already in for various phases of trial that boosted the growth of CROs multiple fold. The economy was adversely affected in many countries but a complete governmental focus and support from health industry itself resulted in the growth of the contract research organization market.

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The global contract research organization market is segmented on the basis of service, application, end user, company and regional distribution. Based on application, the market is further fragmented into oncology, central nervous system, cardiovascular, diabetes, autoimmune/inflammation, and others. Oncology application dominated the market in 2020 by holding 34.75% of the overall market share owing to the rising cases of cancer and the evolving nature of the carcinogenic cells. Research has suggested that cancerous cells have the tendency to grow on their own and sometimes the reason for cancer could be the DNA alterations. Extensive studies and research are regularly being conducted thereby the requirement of CROs for trials and data management and record maintenance is driving the growth of the market in the next five years.

North America region dominated the market in 2020 owing to its excellence in the efficient and high standard pharmaceutical industry. Healthcare industry in the countries like USA, Canada, and Mexico are considered best, thereby guaranteeing better and effective drugs, effective treatment, and thus requires regular clinical trials for the new developing drugs. Moreover, rapid growth in the region’s biosimilar and biologics market is also driving the growth of the market.

Some of the major competitors in the market are ІСОN Plс, Pharmaceutical Product Development, Inc., ІQVІА Ноldіngѕ Іnс., Covance Inc., Syneos Health Inc., PRA Health Sciences, Inc., Medpace Holdings, Inc., WuXi Apptec Co. Ltd, Charles River Laboratories International Inc., Parexel International Corporation, Envigo RMS LLC, SGS S.A, Omnicare Inc., Onyx Scientific Limited, Pierrel Research International AG, among others. The companies are focusing on extensive research and development activities to stay competitive in the market. Other competitive strategies include formation of alliances and partnerships.

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“Outbreak of pandemic, and regular research has enhanced the role of pharmaceutical and biopharmaceutical companies in the healthcare industry. The companies are in continuous need of outsourcing for early phase development, clinical and laboratory testing of the developed drugs there by creating maximum demand for CROs, Since the method boosts the profit margins, aids in avoiding high expenses, and thus reduces the time to conduct the whole developing and testing process and validation procedure of product, the market is very promising for the future endeavors. New investors can create a partnership with the pharmaceutical companies for an effective business in the future,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.

“Global Contract Research Organization Market By Service (Clinical Research Services, Early Phase Development Services, Laboratory Services, Consulting Services and Data Management Services), By Application (Oncology, Central Nervous System, Autoimmune/ Inflammation Diabetes, Cardiovascular, Others), By End User (Pharmaceutical and Biopharmaceutical Companies, Medical Device Companies, Academic Institutes and Others), By Company, By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of global contract research organization and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global contract research organization.

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Cold Rolled Steel Segment to Dominate India Hot Rolled & Cold Rolled Steel Market through FY2027 | TechSci Research

Surge in demand for automotive industry and high disposable income is expected to drive the India hot rolled & cold rolled steel market in the forecast period.

According to TechSci Research report, “India Hot Rolled & Cold Rolled Steel Market By Product (Hot Rolled Steel, Cold Rolled Steel), By Form (Steel Plate, Steel Coil, Flat, Others), By Application (Automotive, Construction, Steel Pipe, Shipping, Machinery & Equipment, Industrial, Others), By Company, By Region, Forecast & Opportunities, FY2027F”, the India hot rolled & cold rolled steel market is expected to witness steady growth for the next five years. Hot rolled steel is used for compressive forming methods such as metal extrusion, rolling, and forging as it requires less energy and force. Hot rolling process of steel is done in temperature above the material crystallization temperature that is temperature above 1000°C. The starting material is generally steel slabs or steel billets and then it is fed to rolling machinery and continuous rolling of the steel gives the desired shape in form of sheets. Hot rolled steel is formed easily without any extra delay due to high temperature and is produced in large quantities than the cold rolled steel. The price of hot rolled steel is lower than the cold rolled steel. The hot rolled steel is then cooled at room temperature which results in higher ductility and toughness. Hot rolled steel shrinks during the cooling process which leaves the internal stress in metals resulting in distortions and non-uniform growth. Hot rolled steel is widely used in truck frames, pipes and tubes, railroad tracks and car parts, doors, and shelving, among others. Cold rolling of steel occurs below the temperature of crystallization. As, the process of recrystallization temperature, strain hardening occurs which ensures that cold rolled steel has higher yield strength. Cold rolled steel finds applications in various end user industries such as home appliances, water heaters, metal containers, fan blades, frying pans, computer cabinets, among others. Rising population in the country is giving rise to need for construction of more residential and commercial spaces thereby fueling the development of construction industry for the next five years. Construction and infrastructure development requires the hot rolled and cold rolled steel thereby driving the growth of the market for the next five years.

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India hot rolled & cold rolled steel market is segmented into product, form, application, regional distribution, and company. Based on form, hot rolled and cold rolled steel market is further divided into steel plate, steel coil, flat and others. The steel coil segment is expected to account for major market share in the forecast period. Steel coil is a sheet metal supplied in coil form. Depending on the production method, steel coil is classified into hot rolled, cold rolled, galvanized, or polymer coated. Rise in construction activities and machine-building sectors is positively contributing to the growth of the hot rolled and cold rolled steel market. Hot rolled steel coil is used to make shapes and profiles for construction and machine-building as well as for special purpose coils. Cold rolled steel coil is majorly used for construction, domestic appliances, and automotive industry. Galvanized coil is used for making goods with decorative coating and is in high demand from automotive and construction industry. Polymer coated coiled steel is in high demand from automotive, construction and for manufacturing of consumer goods.

JSW Steel Ltd, Steel Authority of India Ltd., Essar Steel India Ltd., Jindal Steel & Power Ltd., Rashtriya Ispat Nigam Ltd. (RINL), Electrosteel Steel Ltd., Jindal Stainless Limited (JSL), Tata Steel Limited are the leading players operating in India hot rolled & cold rolled steel market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several hot rolled & cold rolled steel manufacturers are coming up with their technologically advanced offerings.

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“Demand for energy-efficient automobiles due to high carbon emissions from the conventional vehicles is contributing to the increased sales of electric vehicles and hybrid electric vehicles. Electric vehicles are cost-effective compared to traditional vehicles which require hot rolled steel for vehicle production process thereby fueling the growth of the hot rolled & cold rolled market growth until 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“India Hot Rolled & Cold Rolled Steel Market By Product (Hot Rolled Steel, Cold Rolled Steel), By Form (Steel Plate, Steel Coil, Flat, Others), By Application (Automotive, Construction, Steel Pipe, Shipping, Machinery & Equipment, Industrial, Others), By Company, By Region, Forecast & Opportunities, FY2027F” has evaluated the future growth potential of India hot rolled & cold rolled steel market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of India hot rolled & cold rolled steel market.

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Europe to Dominate the Global Rehabilitation Equipment Market till 2026 | TechSci Research

Rising preference for independent lifestyle and expansion of healthcare sector is expected to drive the demand for global rehabilitation equipment market in the forecast period.

According to TechSci Research report, “Global Rehabilitation Equipment Market By Product Type (Daily Living Aid, Mobility Equipment, Walking Assist Devices, Exercise Equipment, Body Support Devices, Others), By Daily Living Aid (Medical Beds, Bathroom & Toilet Assist Devices, Reading & Writing Aids, Others), By Mobility Equipment (Mobility Scooters v/s Wheelchairs), By Walking Assist Devices (Canes, Crutches, Walkers), By Exercise Equipment (Lower Body, Upper Body, Full Body), By Body Support Devices (Patient Lifts v/s Slings), By Application (Physiotherapy v/s Occupational Therapy), By End User (Rehabilitation Center, Physiotherapy Centers, Hospitals & Clinics, Homecare, Others), By Company, By Region, Forecast & Opportunities, 2026”, global rehabilitation equipment market is expected to witness steady growth for the upcoming five years.

Growing need to improve the quality of life and give them a sense of freedom and high society participation from elderly, sick and disabled people is aiding to the high demand for assistive equipment. Rehabilitation equipment are used by physiotherapists, medical experts, and rehab centers in various healthcare facilities to provide relief to the affected patients. Rehabilitation is considered an important step for efficient recovery for several health conditions. Government across major economies are providing incentives for the development of rehabilitation centers to cater to the rising need for such centers across the globe. Healthcare asylums need to avail the services of rehabilitation centers thereby accelerating the market demand worldwide. Awareness regarding the benefits of physiotherapy is increasing which is creating high demand from large old age and disabled population.

However, lack of access and awareness regarding rehabilitation centers may create hindrance in the global rehabilitation equipment market growth.

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Global rehabilitation equipment market is segmented into product, allergy type, test, end user, region, and company. Based on application, the market is further bifurcated into physiotherapy and occupational therapy. Physiotherapy segment is expected to witness growth in the forecast period. Physiotherapy helps in strengthening the muscles, restore the flexibility and mobility of the body, reduce the pain and aids in maintaining the correct posture of the body. The increasing incidence of sports injuries, cerebrovascular diseases, and degenerative joint disorders is expected to fuel the market growth in the next five years.

Based on end user, market is divided into rehabilitation centers, physiotherapy centers, hospitals & clinics, homecare, among others. Hospitals and clinics segment is expected to hold major market share in the predicted period. Paramount trust of consumers on the services and treatment given by hospitals and clinics is attracting a large crowd to avail services which is considered the major driver for this segment. Government is providing reimbursement policies to avail healthcare services in developed economies thereby fostering the growth of global rehabilitation equipment market. Based on product type, the market is categorized majorly into daily living aid, mobility equipment, walking assist devices, exercise equipment, body support devices and others.

Mobility equipment segment is accounted to hold major market share for the forecast period. Increasing geriatric and handicapped population is driving the market growth. Based on mobility equipment, market is divided into mobility scooters and wheelchairs. Wheelchair segment is expected to dominate the market growth as it is preferred by major population. The old age population and the people suffering from leg injuries, arthritis, cerebral palsy, spinal bifida, amyotrophic lateral sclerosis, lower limb amputees, paralysis condition, among others require the assistance of wheelchairs for movement from one place to another. Wheelchairs are integrated with Bluetooth, Wi-fi connectivity and smart gadgets to provide convenience and easy movement to sick and disabled people.

Invacare Corporation, Drive DeVilbiss Healthcare LLC, Hill-Rom Services Inc., Medline Industries, Inc., Dynatronics Corporation, DJO Global, Inc., Carex Health Brands, Inc., Roma Medical Aids Ltd., GF Health Products, Inc., Etac AB, Joerns Healthcare LLC, Prism UK Medical Ltd., EZ Way, Inc., Sunrise Medical, Inc., Ekso Bionics Holdings Inc. are the leading players operating in the global rehabilitation equipment market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several rehabilitation equipment manufacturers are coming up with their technologically advanced offerings.

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“Technological advancements of rehabilitation equipment such as application of virtual reality technology, exoskeletons, robots and invent of implantable technologies for management of pain and increasing number of physiotherapy centers across the globe is accelerating the rehabilitation equipment demand. Increasing cases of mental trauma, spinal injuries, depression among other mental health related diseases require services from rehabilitation centers which is anticipated to propel the global rehabilitation equipment market growth until 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Rehabilitation Equipment Market By Product Type (Daily Living Aid, Mobility Equipment, Walking Assist Devices, Exercise Equipment, Body Support Devices, Others), By Daily Living Aid (Medical Beds, Bathroom & Toilet Assist Devices, Reading & Writing Aids, Others), By Mobility Equipment (Mobility Scooters v/s Wheelchairs), By Walking Assist Devices (Canes, Crutches, Walkers), By Exercise Equipment (Lower Body, Upper Body, Full Body) By Body Support Devices (Patient Lifts v/s Slings), By Application (Physiotherapy v/s Occupational Therapy), By End User (Rehabilitation Center, Physiotherapy Centers, Hospitals & Clinics, Homecare, Others), By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of global rehabilitation equipment market and provided statistics & information on market size, shares, structure and future market growth.

The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global rehabilitation equipment market.

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