Services Segment to Dominate North America Medical device and diagnostics contract research organization Market during 2020-2028
According to a new market research study on “North America Medical device and diagnostics contract research organization Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Offering and Type” is expected to reach US$ 3,045.86 million by 2028 from 2,228.71 US$ million in 2021. The market is estimated to grow at a CAGR of 4.6% from 2021 to 2028. The report provides trends prevailing in the North America medical device and diagnostics contract research organization market along with the drivers and restraints pertaining to the market growth. Rising number of clinical trials in North America is the major factor driving the growth of the North America medical device and diagnostics contract research organization market. However, the issue associated with huge competition in CRO services market hinders the growth of North America medical device and diagnostics contract research organization market.
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.
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.
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 are among the leading companies in the North America medical device and diagnostics contract research organization market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, IBI Group has been assigned by the Mackinac Bridge Authority (MBA) to provide a turnkey toll system to replace the existing system at the Mackinac Bridge in Northern Michigan
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.
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.
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 are among the leading companies in the North America medical device and diagnostics contract research organization market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, IBI Group has been assigned by the Mackinac Bridge Authority (MBA) to provide a turnkey toll system to replace the existing system at the Mackinac Bridge in Northern Michigan
Reasons to buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America medical device & diagnostics contract research organization market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America medical device & diagnostics contract research organization market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the medical device & diagnostics contract research organization market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table of Contents
1. Introduction
3. Research Methodology
4. North America Medical Device and Diagnostics Contract Research Organization Market - Market Landscape
5. North America Medical Device & Diagnostics Contract Research Organization Market - Key Market Dynamics
6. Medical Device and Diagnostics Contract Research Organization Market - North America Analysis
7. North America Medical Device and Diagnostics Contract Research Organization Market Analysis - By Type
8. North America Medical Device and Diagnostics Contract Research Organization Market - By Services
9. North America Medical Devices and Diagnostics Contract Research Organization Market - Country Analysis
10. Impact of COVID-19 Pandemic on North America Medical Devices and Diagnostics Contract Research Organization Market
11. Medical Devices and Diagnostics Contract Research Organization Market - Industry Landscape
12. Company Profiles
13. Appendix
List of Tables
List of Figures
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 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.
- Wuxi Apptec
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 129 |
| Published | August 2021 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 4890.99 Million |
| Forecasted Market Value ( USD | $ 8149.58 Million |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | North America |
