Contract Research Organizations Services Market, By Type (Discovery, CMC, Preclinical, Clinical Research, and Laboratory Services), By Therapeutic Area (Oncology, CNS, and Cardiovascular), By End User (Pharmaceuticals & Biotechnological Companies and Medical Device Companies) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Contract Research Organizations Services Market was valued at US$ 76.6 billion in 2023 and is projected to grow at a CAGR of 10.7 %% to reach US$ 212.4 by 2034.

A contract research organization (CRO) services company is a company hired on a contract basis to provide support to the pharmaceutical, biotechnology companies, medical device industries, research institutions, universities and government bodies, in the form of services such as biopharmaceutical research and development, biological assay development, product commercialization, clinical development, clinical trials operation and management, and real world evidence. Other services like data management, regulatory affairs, and quality assurance are also major aspects handled by Contract Research Organizations Services companies.

Contract Research Organizations Services help reduce costs for companies that are developing new medicines and drugs in niche markets, and allow manufacturers to ease their entry into existing drug markets, as well as simplify the overall development and approval process. Collaborating with Contract Research Organizations Services cancels the need for big pharma companies to handle all aspects of product development and marketing in house by hiring the necessary professionals, which is otherwise a lengthy, labor-intensive process.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Contract Research Organizations Services Market Key Drivers:

• Rising prevalence of chronic diseases has fueled investment in healthcare

Rising prevalence of chronic disease has become the major factor in Contract Research Organizations Services Market growth. Urbanization has given rise in consumption of processed food, pollution, pathogenic exposure and overall decrease in public well-being. Eating processed and unhealthy food, lack of exercise affects the health causing chronic disease like heart disease, diabetes, obesity, high blood pressure, gastrointestinal diseases, etc. This has led to increasing global investment in R&D relating to biotech, healthcare and pharma.

For instance, in 2020 itself, Coronary Heart Disease (CHD) accounted for 41.2% of all deaths resulting from cardiovascular disease (CVD) in the US. With 928,741 deaths in 2020, from cardiovascular disease (CVD) is still the top cause of mortality in the US. In 2023 1,958,310 new cancer cases were projected to occur in the USA alone. This steady rise is causing new drug development to be outsourced to Contract Research Organizations to meet the rising demand for healthcare intervention.

• Increased Outsourcing to Contract Research Organizations due to increased number of clinical trials

Due to rise in chronic disease cases, increased need for therapeutic advancement and development of better pharmaceuticals, as well as, stricter quality regulations post-pandemic number of clinical trials being conducted worldwide has increased greatly. This has increased the need for outsourcing of various aspects of production to Contract Research Organizations leading to the exponential growth of Global Contract Research Organizations Services Market in recent years.

According to the latest statistics from Global Data’s Pharmaceutical Intelligence Centre, 22,338 clinical trials were started in 2023 alone with 36% of the trials being Phase II trials. Of these the majority of trials conducted were in oncology and Central Nervous System related fields. With more drugs being developed worldwide, this number will only keep on increasing.

Contract Research Organizations Services Market Restrains:

Rapid growth of Contract Research Organizations Services market in recent post- pandemic years has led to a huge demand for trained professionals needed to conduct different specialized operations in this field but due to competition with biotechnology sector, pharma and other industries, there is a shortage of skilled and experienced researchers who are willing to opt for work in Contract Research Organizations.

Recent Development:

• In January 2023, Novotech, the leading Asia-Pacific centered biotechnology contract research organization (CRO), acquired European Contract Research Organization EastHORN, known for its clinical, medical and regulatory expertise in multiple strategically important locations across the European continent. The acquisition comes as part of Novotech’s ongoing global expansion program. This will allow clients to access Novotech's different world-class early to late stage Contract Research Organizations services in Europe, the United States of America, and the Asia Pacific region.
• In May 2023, Thermo Fisher acquired PPD in the largest M&A deal involving contract research organizations of 2023, valued at around 21 billion U.S. dollars. This will help in conducting larger scale trials across a much more globally diverse patient pool. Trial operations will be optimized to better suit global as well as local healthcare guidelines
• In October 2023, Saphetor SA partnered with ICON to successfully develop an innovative approach to enhance the execution of clinical trials in the precision medicine and rare diseases sector. The companies are exploring options to support diverse patient recruitment and optimize overall clinical trial strategy.            
• In December   2023,   Oxford Biomedica acquired full ownership of ABL Europe from Institut Mérieux. This deal allows Oxford Biomedica to equip its six manufacturing sites in the EU, US and UK with multi viral vector CDMO capabilities. This will also better Oxford Biomedica’s analytical development abilities and early-stage manufacturing processes to better address their client needs and increase their handling capacity. Process development and manufacturing capacity in the EU will be increased due to opening of new facilities in France.

Contract Research Organizations Services Market is segmented based on Type, Therapeutic Area, End User, and region.

Type Insight
On the basis of Service Type, Contract Research Organizations Services Market is segmented into Discovery, CMC, Preclinical, Clinical Research, Laboratory Services. Clinical Research Services has dominated the target market growth due to high test demand and outsourcing of R&D activities. Phase 1, Phase II, Phase III, and Phase IV are the subcategories of the clinical research services segment. As more drugs are developed each year, the number of outsourced trials required to determine drug safety and efficacy also grows. This directly expands the Clinical Research services segment. 

Therapeutic Area Insights
On the basis of Therapeutic Area, Contract Research Organizations Services Market is segmented into Oncology, CNS, Cardiovascular and Others. Oncology has dominated the target market growth due to rising prevalence of cancer diseases cause by unhealthy lifestyle like alcohol consumption, etc. and outsourcing of complex clinical trials for novel drugs. The demand for early phase development services in Oncology sector is contributing to the expansion of this segment as well.

End User Insights:
Based on end-users, the Contract Research Organizations Services Market can be sectioned into medical device companies, pharmaceutical and biotech companies. Pharmaceutical and biotech companies presently occupy the highest market share as outsourcing a larger portion of initial R&D that is involved in developing a therapeutic drug or treatment procedure is becoming very common.

Regional Insights:
On region the Contract Research Organizations Services Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

• North America market is estimated to witness a significantly high revenue share over the forecast period, owing to rise in chronic and autoimmune diseases, the increase in cancer cases, presence of majority of key players as well as collaboration amongst different parties, technological advancement, investment in primary research & development, and increased expenditure on public healthcare infrastructure.
• Asia Pacific market is estimated to witness the fastest revenue share due to increasing population, growing investment in advanced technology in the medical field, rising prevalence of diseases, and improvement in their healthcare infrastructure.
   

Report Scope:

Attribute	Details
Base year for estimation	2023
Forecast period	2024 – 2034
Market representation	Revenue in USD Billion & CAGR from 2024 to 2034
Market Segmentation	By Type – Discovery, CMC, Preclinical, Clinical Research, Laboratory Services By Therapeutic Area -Oncology, CNS, Cardiovascular By End User - Pharmaceutical and biotech companies, Medical device companies.
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

 

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032. For the purpose of this study, has segmented the Contract Research Organizations Services Market report based on Type, Therapeutic Area, End User, and region.

Contract Research Organizations Services Market, By Type:

• Discovery
• CMC
• Preclinical
• Clinical Research
• Laboratory Services

Contract Research Organizations Services Market, By Therapeutic Area:

• Oncology
• CNS
• Cardiovascular           

Contract Research Organizations Services Market, By End User:

• Pharmaceutical and biotech companies,
• Medical device companies,    

Contract Research Organizations Services Market, By Region:

• North   America            
  • U.S.
  • Canada
• Europe              
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific                      
  • China
  • India
  • Japan
  • South   Korea
  • Rest of Asia Pacific
• Latin America                
  • Brazil
  • Mexico
  • Rest of Latin America                                                             
• Middle East & Africa                  
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa                                                                                                           

Company Profile:

•              IQVIA,*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Pharmaceutical Product Development, LLC.

• Medpace, Inc.
• Clintec
• PRA Health Sciences, Inc.
• ICON plc
• KCR S.A.
• PSI
• Parexel International Corporation.
• Covance Inc.   

“*” marked represents similar segmentation in other categories in the respective section

The key players operating the Contract Research Organizations Services Market includes, IQVIA Inc., Clintec, Laboratory Corporation of America Holdings, PRA Health Sciences, Inc. Pharmaceutical Product Development LLC., ICON, Syneos Health, Charles River Laboratories International, Parexel International Corporation, Covance Inc. and Medpace Holdings Inc., PSI and KCR CRO among others.

 

1. Research Objective and Assumption
   • Preface
   • Research Objectives
   • Study Scope
   • Years Considered for the study
   • Assumptions
   • Abbreviations
2. Research Methodology
   • Research data
   • Primary Data
     • Primary Interviews
     • Primary Breakdown
     • Key data from Primary Sources
     • Key Thickness Insights
   • Secondary Data
     • Major Secondary Sources
     • Secondary Sources
   • Market Estimation
   • Top-Down Approach
     • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
   • Bottom-Up Approach
     • Approach for estimating market share by Bottom-up Analysis (Demand Side)
   • Market Breakdown and Data Triangulation
   • Research Assumptions
   • PORTER’s
   • Investment Outlook
3. Market Purview
   • Executive Summary
   • Key Findings—Global Outlook for Contract Research Organizations Services Strategies
     • Key Questions this Study will Answer

     • Global contract research organizations services market by type:

       • Discovery
       • CMC
       • Preclinical
       • Clinical Research
       • Laboratory Services

       Global contract research organizations services market by therapeutic area:

       • Oncology
       • CNS
       • Cardiovascular

       Global contract research organizations services market by end-user:

       • Pharmaceuticals & Biotechnological Companies
       • Medical Device Companies

       Global contract research organizations services market by region:

       • North America
       • Europe
       • Asia Pacific
       • Latin America
       • Middle East & Africa
   • Opportunity Map Analysis
   • Executive Summary—3 Big Predictions
4. Market Dynamics, Regulations, and Trends Analysis
   • Market Dynamics
     • Drivers
     • Restraints
     • Market Opportunities
     • Market Trends
   • DR Impact Analysis
   • PEST Analysis
   • Porter’s Five Forces Analysis
   • Opportunity Orbit
   • Overview
   • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
   • Y-o-Y Growth Analysis (%), 2020 – 2030
   • Regional Trends
   • Market Investment Feasibility Index
   • Macroeconomic Factor Analysis
5. Regional Analysis
   • Regional Revenue Analysis
   • Regional By segment Analysis
   • Reasons for regional growth
   • Key Player of particular region
   • Countries Include in the report:

1. • • North America (U.S., Canada)
     • Europe (UK, France, Germany, Russia, Italy, Rest of Europe)
     • Asia Pacific (India, Japan, South Korea, China, Rest of Asia Pacific)
     • Latin America (Brazil, Mexico, Rest of Latin America)
     • Middle East & Africa (GCC, Israel, South Africa, Rest of Middle East)

1. Competitive Landscape
   • Heat Map Analysis
   • Market Presence and Specificity Analysis
   • Competitive Overview
   • Competitive Benchmarking
   • Market Share Analysis
   • Key Developments In The Global Contract Research Organizations Services Market
   • Key Developments: Mergers & Acquisitions
   • Key Developments: Collaboration
   • Key Developments: Contracts & Agreements
   • Key Developments: Expansion
   • Key Developments: Product Developments
2. Company Profiles

 

• Company Overview
• Product Portfolio
• Key Highlights
• Financial Performance
• Business Strategies
• SWOT Analysis

• • Pharmaceutical Product Development, LLC.
  • Medpace, Inc.
  • Clintec
  • IQVIA, Inc.
  • PRA Health Sciences, Inc.
  • ICON plc
  • KCR S.A.
  • PSI
  • Parexel International Corporation.
  • Covance Inc.

1. The Last Word
   • Future Impact
   • About Us
   • Contact

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