Research Methodology on Contract Research Organization Market
Introduction
The Contract Research Organization (CRO) market is a specialized type of service provider to the pharmaceutical, biotechnology and medical device industries. These organizations provide support services to pharmaceutical and biotechnology companies that are primarily research-focused, such as licensing and clinical trial support services.
Among varied factors and trends, the increasing R&D expenditure of biotechnology and pharmaceutical companies is one of the major growth drivers for the market that is expected to reach an all-time high revenue by the year 2030.
Research Methodology
The proposed study is based on a quantitative and qualitative research approach. A wide range of secondary data sources such as published market reports, trade journals, and other sources is used to gain an in-depth understanding of the Contract Research Organization (CRO) market. The research is divided into three stages.
In the first stage, an extensive review of the secondary research is conducted to comprehend the market dynamics, trends and key stakeholders. This is done through a combination of scholarly publications, statistical databases, white papers, surveys and interviews with industry professionals, Internet studies & industry-specific journal articles, and qualitative primary research.
In the second stage, primary research is conducted to gain further insights into the Contract Research Organization market. This is done by administering questionnaires to manufacturers, distributors, and contractors of CROs. These questionnaires aim at understanding the challenges faced by CROs, as well as evaluating their knowledge, attitudes, and preferences in the CRO market.
In the last phase of the research, triangulation of data is done to analyze the impacts of the CRO market. This is done through a combination of statistical software and questionnaire surveys. The analysis uses a wide range of predictors, such as the market size, competitive dynamics, technological developments, key regulatory measures, and market trends. The combination of the primary & secondary data reveals insights into the industry landscape and key influencing forces.
Overall, the proposed research adopts a mix of both qualitative and quantitative research design, which allows a deep understanding of the CRO market. The developed research framework helped to gauge the quantitative value and qualitative information of the CRO market. The research uses a wide range of methodological elements, such as primary & secondary research sources, questionnaires, interviews, and statistical modelling. The research framework enables the assessment of the key stakeholders in the market and market dynamics for both current and foreseeable future scenarios.