Depending on the end user, the global Contract Research Organization Services Market is divided into two groups: pharmaceutical and biotechnology firms, and medical device companies. The market share of pharmaceutical and biotechnology firms was greater in 2021, and their CAGR is anticipated to be higher from 2021 to 2028. The value that CROs add to the creation of goods for pharmaceutical and biotechnology businesses through research, clinical trials, and regulatory services is credited with the Contract Research Organization Services Market expansion of the segment for these companies. The end user makes extensive use of these services to reduce the cost of infrastructure, R&D, and regulatory requirements. Due to the very limited infrastructure, newly established pharmaceutical and biotechnology enterprises also use CRO services to reduce expenses.
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