Global Contract Research Organization Services (CROs) Market By Type (Clinical Research Services, Early phase development Services, Laboratory Services, Consulting Services and Data Management Services) By Clinical Research Services (Phase III, Phase II, Phase I and Phase IV) By Early phase development services (Chemistry, Manufacturing and Controls Services, Preclinical Services, Pharmacokinetics/ Pharmacodynamics Services, Toxicology Testing Services, Other Preclinical Services and Discovery Studies) By Laboratory services (Analytical Testing Services and Bioanalytical Testing Services) By Therapeutic Area (Oncology, Infectious Diseases, CVS Disorders, Neurology, Vaccines, Metabolic Disorders/Endocrinology, Immunological Disorders, Psychiatry, Respiratory Disorders, Dermatology, Ophthalmology, Gastrointestinal Diseases, Genitourinary & Women’s Health, Hematology and Other Therapeutic Areas) By End user (Pharmaceutical & Biopharmaceutical Companies, Medical Device Companies and Academic Institutes) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa) – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2030

Global Contract Research Organization Services (CROs) Market Overview

A contract research organization (CRO) is a corporation that helps sponsor organizations manage complicated clinical research and trial responsibilities, drug discovery, clinical development, and commercialization of novel medicines, especially in the biotechnology, pharmaceutical, and medical device industries. Clinical trial management, preclinical research, clinical research, commercialization, and pharmacovigilance are among the research services provided by these firms. These are contracted out, often known as fee-for-service outsourcing. The market has been significantly affected by the increasing usage of new technology for efficient R&D outcomes and the expanding outsourcing tendencies in the clinical trials industry. The CRO market statistics are being transformed and propelled by the huge change from maintaining manual/paper-based records to digital data capturing technology.

The increasing investment in pharmaceutical R&D, the growing number of clinical trials, and the high cost of in-house drug development are all contributing to the CROs services market's growth (encouraging pharma-biotech companies to opt for outsourcing). End-user demand for specialized testing services, as well as the requirement for novel clinical trial designs for complicated cell and gene therapies, are likely to provide a wide range of potential prospects for market competitors. The majority of pharmaceutical, biopharmaceutical, and medical device businesses continue to put significant resources into developing new medications and technologies. R&D is very important in the pharmaceutical industry. Pharmaceutical firms spend in research and development in order to bring high-quality, innovative goods to market. According to current trends, the biggest pharmaceutical companies are enhancing their R&D efficiencies by investing more in R&D and collaborating on R&D.

Market Size

According to Business Intelligence Insights "Global Contract Research Organization Services (CROs) Market is expected to grow from USD 63.4 billion in 2021 to USD 155.9 billion by 2030, at a CAGR of 11.90% during the forecast period 2022-2030
 

Covid -19 Impact Analysis

COVID-19 is a recently discovered coronavirus that produces an infectious disease. COVID-19, which was virtually unknown before the outbreak in Wuhan, China, in December 2019, went from a regional concern to a global pandemic in a few of months. Globally, the COVID-19 epidemic has imposed a strain on healthcare systems. With the World Health Organization declaring the COVID-19 outbreak a pandemic, a number of major pharmaceutical and biopharmaceutical companies have boosted their R&D and manufacturing efforts to develop and sell SARS-CoV-2 viral diagnostic kits, vaccines, and therapies. To speed up the R&D process, many pharmaceutical and biotechnology companies have joined with CROs through long-term agreements, partnerships, and collaborations all over the world. CROs have also built COVID-19 research-specific services. There have been a number of new service launches as well as agreements, partnerships, and collaborations with other pharmaceutical firms and academic institutes for the research and development of COVID-19 vaccines, therapeutics, and diagnostics. Manufacturing facilities have also been expanded with investments. As a result, the COVID-19 epidemic worked as a catalyst for outsourcing drug development procedures, affecting every area of the pharmaceutical contract research sector.

Market Dynamics

•    Drivers
o    Increasing pharmaceutical R&D spending 
o    Clinical trials are becoming more common.

•    Restraints
o    Lack of Skilled Professionals to Restrain Growth of CRO Services Market

Segmentation Insights

By Type

Clinical Research Service category dominated the market with more than 30% of the market share

The market is divided into types such as Clinical Research Services, Early phase development Services, Laboratory Services, Consulting Services and Data Management Services. The clinical segment accounted for a sizable portion of the global market. This is due to the high prevalence and increase in chronic disease cases. This market is also being propelled by an increase in outsourcing R&D activities in the biotechnology and pharmaceutical sectors. During the forecast period, the early phase development services segment is expected to grow at a higher CAGR. This is due to increased investment in the development of life-saving medications.

 

By End user

Pharmaceutical and biotech companies category dominated the market with more than 40% of the market share

The market can be divided into end-user segments such as pharmaceutical and biotech companies, medical device companies, academic and research institutes, and others. Pharmaceutical and biotech companies have the largest market share, as pharmaceutical sponsors invest more in R&D and outsource a greater portion of R&D to independent service providers. CROs for medical devices are also expanding at a faster rate. CRO service providers' management of medical technologies and new developments in healthcare has increased the CRO market size share for medical devices.
Regional Landscape

By Type
•    Clinical Research Services
•    Early phase development Services
•    Laboratory Services
•    Consulting Services
•    Data Management Services

By Clinical Research Services
•    Phase III
•    Phase II
•    Phase I
•    Phase IV

By Early phase development services
•    Chemistry, Manufacturing and Controls Services
•    Preclinical Services
•    Pharmacokinetics/ Pharmacodynamics Services
•    Toxicology Testing Services
•    Other Preclinical Services
•    Discovery Studies

By Laboratory services
•    Analytical Testing Services
•    Bioanalytical Testing Services

By Therapeutic Area
•    Oncology
•    Infectious Diseases
•    CVS Disorders
•    Neurology
•    Vaccines
•    Metabolic Disorders/Endocrinology
•    Immunological Disorders
•    Psychiatry
•    Respiratory Disorders
•    Dermatology
•    Ophthalmology
•    Gastrointestinal Diseases
•    Genitourinary & Women’s Health
•    Haematology
•    Other Therapeutic Areas

By End user
•    Pharmaceutical & Biopharmaceutical Companies
•    Medical Device Companies
•    Academic Institutes 

By Region
•    North America
o    U.S.
o    Canada
•    Europe 
o    Germany
o    U.K.
o    France
o    Italy
o    Spain
o    Rest of Europe
•    Asia Pacific 
o    China
o    India
o    Japan
o    Rest of Asia Pacific
•    Latin America 
o    Brazil
o    Mexico
o    Rest of Latin America
•    Middle East and Africa 
o    UAE
o    South Africa
o    Rest of Middle East and Africa (MEA)

Key Players

List of Key Players in the Global Contract Research Organisation Services (CROs) Market:

•    IQVIA Inc. (US)
•    Laboratory Corporation of America Holdings (US)
•    Charles River Laboratories International, Inc. (US)
•    WuXi AppTec Co., Ltd. (China)  
•    Syneos Health Inc. (US)
•    Parexel International Corporation (US)
•    PPD, Inc. (a part of Thermo Fisher Scientific, Inc.)
•    Pharmaron Beijing Co., Ltd. (China)
•    Clinipace Inc. (US)
•    ICON plc (Ireland)
•    Medpace Holdings Inc. (US)
•    SGS SA (Switzerland)
•    Frontage Holdings Corporation (US)
•    PSI CRO AG (Switzerland)
•    BioAgile Therapeutics Pvt. Ltd. (India)
•    Firma Clinical Research, LLC (US)
•    AccuLab Life Sciences (US)
•    Novotech Health Holdings (Australia)
•    Geneticist Inc. (US)
•     Linical Americas (US)
•    Celerion (US)
•    Azelix LLC (US)
•    Clinical Trial Service BV (Netherlands), 
•    Pepgra Healthcare Pvt. Ltd. (UK)
•    Axcent Advanced Analytics, Inc. (US)
•    Dove Quality Solutions Limited (UK)

Regional Insights

North America dominated the market with more than 35% of the market share

North America has the largest market share and is expected to maintain its dominance throughout the forecast period. Due to the changing reimbursement scenario and generic competition, major pharmaceutical firms are outsourcing R&D and clinical trials, which is supplementing the growth of CRO services in North America. Pharmaceutical companies' increasing R&D investment in developing novel therapeutics is driving the region's market growth. The high R&D investment and initiatives by key players in the expansion of the product portfolio are expected to boost the development of new drugs, increasing demand for clinical trial and drug development outsourcing services. As a result, these factors are expected to boost the growth of the North American contract research organization market.

Table

Report Attributes	Details
Market Size Value in 2021	USD 63.4 billion
Market Size Value in 2030	USD 155.9 billion
Growth Rate	+11.90%
Base Year	2021
Forecast Period	2022-2030
Historical Data	2018-2020
Forecast Units	(USD Billion)
Countries Covered	North America: U.S and Canada Europe: Germany, France, Italy, U.K, Spain, Russia, Rest of Europe APAC: China, Japan, South Korea, India, Australia, South East Asia, Rest of Asia Pacific Latin America: Brazil, Mexico Middle East And Africa: Saudi Arab, South Africa, UAE
Segments Covered	By Type, By Clinical Research Services, By Early phase development services, By Laboratory services, By Therapeutic Area, By End user, By Region

 

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