Clinical trial activity has been growing as a result of increased involvement from contract research organizations. This growth has been playing a key role in the roadmap of the life sciences and tools market. Clinical trials will be increasingly outsourced to emerging markets such as South America, South Africa, Eastern Europe and parts of Asia. This trend will work in favor of the overall life sciences services market.
Complex clinical trials and stringent regulatory norms have been contributing to the growth of this market. Latin American, Eastern Europe and Asia are expected to be the fastest developing markets. North and Latin America together continue to hold to nearly 60 percent of this market.
TechNavio™s analyst says, Despite increased consolidation, the life sciences tools and services market continues to remain fragmented. The future will see niche players providing specialized expertise and newer players vying for a bigger share in the market.”
According to TechNavio, the market for Global Life Sciences Tools and Services is forecast to reach $26,748.1 million in 2013 from $18,228.0 million in 2009 growing at a CAGR of 10.1 percent.
TechNavio has published a detailed report on this subject titled Global Life Sciences Tool & Services Market- 2009-2013. This report has been prepared based on a study of the global life sciences tools and services market with a focus on region wise trends. Inputs from industry experts, vendors and end-users were used in the analysis. The report includes a market size estimate and forecast, market landscape, vendor landscape, drivers, challenges and trends in this market.
For further information visit https://www.technavio.com/content/global-life-sciences-tools-and-services…
Clinical Trials Drive Growth of Life Sciences Tools & Services Market
