Clinical Data Management Segment to Dominate Europe Medical device and diagnostics contract research organization Market during 2020-2028
According to a new market research study on “Europe 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$ 6,576.25 million by 2028 from 4,060.41 US$ million in 2021. The market is estimated to grow at a CAGR of 7.1% from 2021 to 2028. The report provides trends prevailing in the Europe medical device and diagnostics contract research organization market along with the drivers and restraints pertaining to the market growth. High R&D expenditures leading to rising adoption of outsourcing activities is the major factor driving the growth of the Europe medical device and diagnostics contract research organization market. However, the issue associated with huge competition in CRO services market hinders the growth of Europe medical device and diagnostics contract research organization market.
The Europe medical device and diagnostics contract research organization market is segmented into type, services, and country. Based on type, the Europe 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 Europe 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 Europe medical device and diagnostics contract research organization market is segmented into US, Canada, and Mexico.
Europe is highly affected by the COVID-19 pandemic. Countries such as Italy, Spain, the UK, Germany, France, Russia, and Switzerland are highly affected. Most of the deaths were registered in these countries in the initial phases of the pandemic onset. The EU countries even faced the second wave of the pandemic. Therefore, to control the spread of COVID-19, governments of various countries have implemented lockdown. The MedTech industry and its organizations recently called for the postponement of the implementation of the EU MDR and EU IVDR because of the COVID-19 pandemic. Various regulatory changes were scheduled to come into effect in May 2022 as part of the new EU IVDR; however, the dates are likely to be delayed a year because of the COVID-19 pandemic. According to the Greenlight Guru 2021 medical device industry benchmark study fielded in October 2020, 63% of industry professionals feel the pandemic negatively affected funding at their organization, 39% found COVID-19 harming financial viability, and another 59% stated it had negatively affected time to 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 Europe 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, Qserve Group, the leading global medical device and in vitro diagnostics consultancy acquired a QA/RA/Clinical consulting group, Quasys Consult SA, with its office in Liège, Belgium. The addition of Quasys Consult is strategic for the Qserve Group, to have the ability to provide its services in French and expand its presence further into Europe
The Europe medical device and diagnostics contract research organization market is segmented into type, services, and country. Based on type, the Europe 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 Europe 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 Europe medical device and diagnostics contract research organization market is segmented into US, Canada, and Mexico.
Europe is highly affected by the COVID-19 pandemic. Countries such as Italy, Spain, the UK, Germany, France, Russia, and Switzerland are highly affected. Most of the deaths were registered in these countries in the initial phases of the pandemic onset. The EU countries even faced the second wave of the pandemic. Therefore, to control the spread of COVID-19, governments of various countries have implemented lockdown. The MedTech industry and its organizations recently called for the postponement of the implementation of the EU MDR and EU IVDR because of the COVID-19 pandemic. Various regulatory changes were scheduled to come into effect in May 2022 as part of the new EU IVDR; however, the dates are likely to be delayed a year because of the COVID-19 pandemic. According to the Greenlight Guru 2021 medical device industry benchmark study fielded in October 2020, 63% of industry professionals feel the pandemic negatively affected funding at their organization, 39% found COVID-19 harming financial viability, and another 59% stated it had negatively affected time to 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 Europe 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, Qserve Group, the leading global medical device and in vitro diagnostics consultancy acquired a QA/RA/Clinical consulting group, Quasys Consult SA, with its office in Liège, Belgium. The addition of Quasys Consult is strategic for the Qserve Group, to have the ability to provide its services in French and expand its presence further into Europe
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- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe 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 Europe 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 Europe 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. Europe Medical Device and Diagnostics Contract Research Organization Market - Market Landscape
5. Europe Medical Device & Diagnostics Contract Research Organization Market - Key Market Dynamics
6. Medical Device and Diagnostics Contract Research Organization Market - Europe Analysis
7. Europe Medical Device and Diagnostics Contract Research Organization Market Analysis - By Type
8. Europe Medical Device and Diagnostics Contract Research Organization Market - By Services
9. Europe Medical Devices and Diagnostics Contract Research Organization Market - Country Analysis
10. Impact of COVID-19 Pandemic on Europe 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
- 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 | 139 |
| Published | August 2021 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 4060.41 Million |
| Forecasted Market Value ( USD | $ 6576.25 Million |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Europe |
| No. of Companies Mentioned | 9 |
