Product Code: 3012
The global contract research organization market is expected to amass sizable growth through 2032, fueled by the increasing number of technological advancements in the industry and rising investments towards drug discovery and development.
Many pharmaceutical firms are making significant inroads towards novel drug development and discovery to treat numerous chronic diseases, augmenting CRO industry growth. The rising number of clinical studies resulting from these efforts are creating new growth opportunities for the market, which is currently in the midst of consolidating its infrastructure through technological advancements.
Significant R&D investments are being made by pharmaceutical firms, and world governments, to make their respective healthcare infrastructures pandemic proof. These investments are also finding their way to the CRO market.
To capitalize on the oncoming growth, several industry players are also focusing on mergers and acquisitions in the field. For instance, in April 2021, IQVIA, an American multinational pharmaceutical company, acquired Q2 Solutions, a major clinical lab service provider, to diversify its service offerings and increase income in growing regions.
The contract research organization market has been divided in terms of service, therapeutic area, end-use, and region.
Based on service, the regulatory consulting services segment is slated to record strong growth, fueled by increasing reliance of organizations on regulatory consulting service providers. Regulatory consulting services help companies refine their respective regulatory strategies, resolve regulatory problems, and ensure timely submission of regulatory documentation.
In addition, they also help firms obtain their regulatory objectives while also reducing the cost of regulatory errors. Since enterprises in the field heavily depend on regulatory consulting services to keep their operations compliant and attain product approval successfully, the segment receives a continuous revenue stream that helps it grow.
In terms of end-use, the pharmaceutical & biopharmaceutical companies segment held a revenue share of $31.5 billion in 2022. Moving ahead, the segment is projected to make large contributions towards market growth due to the high R&D investment that are being made towards novel drugs as well as therapies. Meanwhile, increasing government support and rising demand for CRO services, that perform numerous pharmaceutical research as well as clinical trials throughout the complex drug discovery process, are also slated to boost the segment size.
With respect to therapeutic area, the neurology segment is speculated to grow at more than 6.5% CAGR from 2023 to 2032. Increase number of clinical studies geared towards evaluating the treatment of severe brain and nervous system disorders is likely to foster market growth. Many manufacturers in the field are also expediting the development of numerous medical devices and drugs that can be used to treat neurological diseases, further creating high demand for CRO services.
From the regional perspective, the Asia Pacific contract research organization market is projected to witness substantial gains owing to the increasing geriatric population in the region, which is fueling the cases of chronic illnesses like cancer, diabetes, as well as heart disease. Surging demand from various pharmaceutical and medical device sectors of emerging APAC economies such as India and China are also outlining the regional scenario.
Table of Contents
Chapter 1 Methodology
- 1.1 Market definition
- 1.2 Base estimates & working
- 1.3 Forecast parameters
- 1.4 Data validation
- 1.5 Data sources
- 1.5.1 Secondary
- 1.5.1.1 Paid sources
- 1.5.1.2 Unpaid sources
- 1.5.2 Primary
Chapter 2 Executive Summary
- 2.1 Contract research organization industry 360 degree synopsis, 2018 - 2032
- 2.1.1 Business trends
- 2.1.2 Service type trends
- 2.1.3 Therapeutic area trends
- 2.1.4 End-use trends
- 2.1.5 Regional trends
Chapter 3 Contract Research Organization Industry Insights
- 3.1 Industry segmentation
- 3.2 Industry landscape, 2018 - 2032
- 3.3 Industry impact forces
- 3.3.1 Growth drivers
- 3.3.1.1 Increasing R&D expenditure worldwide
- 3.3.1.2 Growing number of clinical trials in emerging countries
- 3.3.1.3 Growing outsourcing of R&D activities
- 3.3.1.4 Rising technological advancements
- 3.3.2 Industry pitfalls & challenges
- 3.3.2.1 Intellectual property rights issues
- 3.3.2.2 Stringent regulatory policies
- 3.4 Growth potential analysis
- 3.4.1 By service type
- 3.4.2 By therapeutic area
- 3.4.3 By end-use
- 3.5 COVID-19 impact analysis
- 3.6 Clinical trial volume analysis
- 3.6.1 Clinical trial volume analysis, by region, 2018 - 2021
- 3.6.2 Clinical trial volume analysis, by indication, 2018 - 2021
- 3.6.3 Clinical trial volume analysis, by phase of development, 2018 - 2021
- 3.7 Regulatory landscape
- 3.7.1 U.S.
- 3.7.2 Europe
- 3.7.3 Asia Pacific
- 3.7.3.1 Singapore
- 3.7.3.2 Malaysia
- 3.7.3.3 Indonesia
- 3.7.3.4 Thailand
- 3.7.3.5 South Korea
- 3.7.3.6 Philippines
- 3.8 Clinical trials- Asia Pacific advantage
- 3.9 Industry ecosystem analysis
- 3.10 Drug discovery and development process
- 3.11 Porter's analysis
- 3.12 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
- 4.1 Introduction
- 4.2 Company matrix analysis, 2022
- 4.3 Company market share analysis, 2022
- 4.4 Strategic dashboard, 2022
- 4.5 Merger & acquisition landscape
- 4.5.1 Merger & acquisition deals in the CRO industry, 2018 - 2022
- 4.5.2 Completed contract research organization merger & acquisition deals, 2018-2021
- 4.5.3 Influence of private equity in CRO mergers & acquisitions
- 4.5.3.1 PRA Health Sciences
- 4.5.3.2 Medpace, Inc.
- 4.5.3.3 PPD, Inc.
- 4.5.3.4 Parexel International Corporation
- 4.5.4 Impact of industry consolidation on the overall market
- 4.5.5 Analyst insights
Chapter 5 Contract Research Organization Market, By Service Type
- 5.1 Key service type trends
- 5.2 Early phase development services
- 5.2.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 5.2.2 Discovery phase
- 5.2.2.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 5.2.3 Chemistry, manufacturing & control (CMC)
- 5.2.3.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 5.2.4 Preclinical services
- 5.2.4.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 5.2.4.2 Pharmacokinetic/Pharmacodynamic (PK/PD)
- 5.2.4.2.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 5.2.4.3 Toxicology testing services
- 5.2.4.3.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 5.2.4.4 Others
- 5.2.4.4.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 5.3 Clinical research services
- 5.3.1 Phase I
- 5.3.1.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 5.3.2 Phase II
- 5.3.2.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 5.3.3 Phase III
- 5.3.3.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 5.3.4 Phase IV
- 5.3.4.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 5.4 Laboratory services
- 5.4.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 5.4.2 Bioanalytical testing services
- 5.4.2.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 5.4.3 Analytical testing services
- 5.4.3.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 5.4.3.2 Physical characterization
- 5.4.3.2.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 5.4.3.3 Raw material testing
- 5.4.3.3.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 5.4.3.4 Batch release testing
- 5.4.3.4.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 5.4.3.5 Stability testing
- 5.4.3.5.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 5.4.3.6 Others
- 5.4.3.6.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 5.5 Regulatory consulting services
- 5.5.1 Market estimates and forecast, 2018 - 2032 (USD Million)
Chapter 6 Contract Research Organization Market, By Therapeutic Area
- 6.1 Key therapeutic area trends
- 6.2 Oncology
- 6.2.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 6.3 Clinical pharmacology
- 6.3.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 6.4 Cardiology
- 6.4.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 6.5 Infectious disease
- 6.5.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 6.6 Neurology
- 6.6.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 6.7 Gastroenterology & hepatology
- 6.7.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 6.8 Ophthalmology
- 6.8.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 6.9 Others
- 6.9.1 Market estimates and forecast, 2018 - 2032 (USD Million)
Chapter 7 Contract Research Organization Market, By End-use
- 7.1 Key end-use trends
- 7.2 Pharmaceutical & biopharmaceutical companies
- 7.2.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 7.3 Medical device companies
- 7.3.1 Market estimates and forecast, 2018 - 2032 (USD Million)
- 7.4 Academic institutes
- 7.4.1 Market estimates and forecast, 2018 - 2032 (USD Million)
Chapter 8 Contract Research Organization Market, By Region
- 8.1 Key regional trends
- 8.2 North America
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 France
- 8.3.4 Italy
- 8.3.5 Spain
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.6 MEA
- 8.6.1 South Africa
- 8.6.2 Saudi Arabia
Chapter 9 Company Profiles
- 9.1 Charles River Laboratories International, Inc. (MPI Research)
- 9.2 Clinipace Inc.
- 9.3 CMIC HOLDINGS Co., Ltd.
- 9.4 EPS International Holdings Co. Ltd. (EPS Group)
- 9.5 ICON plc
- 9.6 IQVIA (Quintiles IMS Holdings, Inc.)
- 9.7 Laboratory Corporation of America Holdings (Covance Inc.)
- 9.8 Medpace, Inc.
- 9.9 PAREXEL International Corporation
- 9.10 Pharmaceutical Product Development (Thermo Fisher Scientific, Inc.)
- 9.11 Syneos Health
- 9.12 Worldwide Clinical Trials
- 9.13 WuXi AppTec
- 9.14 ORA Inc.
- 9.15 CTRG (Clinical Trial Resource Group)
- 9.16 Iris Pharma
- 9.17 Trial Runners
- 9.18 The Emmes Company, LLC
- 9.19 Lexitas Pharma Services, Inc.
- 9.20 JANIX
- 9.21 ProTrial Research, Inc.
- 9.22 TFS HealthScience