North America Medical Device and Diagnostics Contract Research Organization Market
No. of Pages: 129 | Report Code: TIPRE00024090 | Category: Life Sciences
No. of Pages: 129 | Report Code: TIPRE00024090 | Category: Life Sciences
The medical devices and diagnostics contract research organization market in North America is further segmented into the US, Canada, and Mexico. The US held the largest share of the North America medical devices and diagnostics contract research organization market in 2020. The growing innovations in the medical devices and diagnostics, increasing R&D activities, presence of well-established marketing hubs and increasing demand for various monitoring and therapeutic medical devices resulting in introduction of novel products likely to account for the growth of the market in the region.
In the North American region, the US was profoundly affected by the outbreak of the COVID-19 pandemic. The country has marked the highest number of positive patients. Across the nation, various healthcare facilities centers were opened only for COVID positive patients. Few admissions were made for patients living with chronic conditions. Additionally, during the COVID-19 crisis, the high demand for medical devices and personal protective equipment (PPE) is seen as millions of healthcare professionals are unprotected in the middle of this situation because governments around the world were not prepared for such pandemic. To overcome these problems, many companies are collaborating with various private and government facilities. For instance, Global Center for Medical Innovation (GCMI), in partnership with Children’s Healthcare of Atlanta and the Georgia Tech Pediatric Technology Center, has completed its first design files for those wishing to produce Face Shields for healthcare providers, the first in what they hope will be a series of designs for badly needed PPE items. Also, in collaboration with Verily, the US-based Alphabet company behind the Project Baseline, the COVID-19 online screening website, Carbon has created a Face Shield that can easily be manufactured on industrial 3D printers. However, the contract-based research and manufacturing activities for all the non-essential medical devices was hampered due to strict imposition of company shut-downs in the region. Industries, however, need to adopt long-term, permanent solutions to challenges that arose due to COVID. Overall, the COVID-19 created a negative impact on the growth of medical devices and diagnostics contract research organization market.
Strategic insights for the North America Medical Device and Diagnostics Contract Research Organization provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 4,890.99 Million |
| Market Size by 2028 | US$ 8,149.58 Million |
| Global CAGR (2021 - 2028) | 7.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Medical Device and Diagnostics Contract Research Organization refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The medical device and diagnostics contract research organization market in North America is expected to grow from US$ 4,890.99million in 2021 to US$ 8,149.58 million by 2028; it is estimated to grow at a CAGR of 7.6% from 2021 to 2028. The CRO services industry is highly fragmented, with several hundred small and medium-sized limited-service providers, and a small number of large and full-service CROs. There are a few barriers for smaller CROs to enter the North America market. However, the full-service CROs require efficient infrastructure with an ability to simultaneously manage multiple complex testing services across numerous geographies, establish the requisite relationships with strategic partners, and develop relevant therapeutic and expertise to meet the needs of end users.
The North America medical device and diagnostics contract research organization market is segmented into type, services, and country. Based on type, the North America medical device and diagnostics contract research organization market is segmented into medical devices and diagnostic. Diagnostic segment is further sub-segmented into cardiac biomarkers, diabetes management, oncology, infectious diseases, hematology, chemistry and immunoassays, molecular diagnostics, and others. The medical devices segment held the largest share of the market in 2020. Based on services, the North America medical device and diagnostics contract research organization market is segmented into clinical data management, monitoring, clinical project management, medical writing, clinical auditing, digital health, clinical strategy, and others. The clinical data management segment held the largest share of the market in 2020. Based on country North America medical device and diagnostics contract research organization market is segmented into US, Canada, and Mexico.
A few major primary and secondary sources referred to for preparing this report on the medical device and diagnostics contract research organization market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Activa CRO; Charles River Laboratories, Inc; ICON PLC; IQVIA; Laboratory Corporation of America Holdings; North American Science Associates, Inc.; PAREXEL International Corporation; Qserve Group B.V.; and WUXI APPTEC.
The North America Medical Device and Diagnostics Contract Research Organization Market is valued at US$ 4,890.99 Million in 2021, it is projected to reach US$ 8,149.58 Million by 2028.
As per our report North America Medical Device and Diagnostics Contract Research Organization Market, the market size is valued at US$ 4,890.99 Million in 2021, projecting it to reach US$ 8,149.58 Million by 2028. This translates to a CAGR of approximately 7.6% during the forecast period.
The North America Medical Device and Diagnostics Contract Research Organization Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Medical Device and Diagnostics Contract Research Organization Market report:
The North America Medical Device and Diagnostics Contract Research Organization Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Medical Device and Diagnostics Contract Research Organization Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Medical Device and Diagnostics Contract Research Organization Market value chain can benefit from the information contained in a comprehensive market report.
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