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Key Market Insights
Since 2015, over 7,500 medical device focused clinical trials, involving the participation of close to 2.9 million patients across different hospitals / medical centers, have been registered worldwide
Over 300 CROs presently claim to possess the necessary capabilities to offer a wide range of preclinical and clinical research-related services to medical device-focused business entities
The market landscape is highly fragmented, featuring the presence of both established players and new entrants; majority of such firms are located in the developed geographies
Owing to the high competition in this field, stakeholders are steadily expanding their capabilities in order to augment their respective service portfolios and also comply to evolving industry benchmarks
Over the years, the domain has witnessed an increase in merger and acquisition activity, with many CROs expanding their presence across multiple geographies and growing their respective service portfolios
Several companies in this domain have established strong brand positions across different regions; in future, such companies are anticipated to contribute the most to the overall revenue generation potential
Driven by the growing demand for effective treatment modalities across various therapeutic areas, the market is poised to witness sustained growth across various device classes and geographies
In the long term, we expect the market to reach over USD 15 billion; the current and future opportunity is likely to be distributed across companies of different sizes offering various types of clinical and preclinical services
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Contact Details
Gaurav Chaudhary
+1 (415) 800 3415
[email protected]