Report Description

Global contract research organization market is expected to show growth with an impressive CAGR in the forecast year, 2024-2028. The market is anticipated to grow on the account of growing healthcare industry and various research and developments that are carried out. Contract research organizations are research-based companies that aid the pharmaceuticals and biotechnology industries to perform their research and conduct clinical trials. Moreover, these organizations also serve government institutions, foundations, and universities in their research purposes. Further, government aids the research and development thereby influencing the process and directly affecting the growth of the contract research organization (CRO) market in throughout the forecast period.

Contract research organizations often club with companies from multiple clients to aid the economies and to provide products and services that are expensive and require high investment, with high labor costs.

The globalization of clinical trials is driving the growth of the CRO market, as pharmaceutical and biotechnology companies seek to conduct trials in multiple regions to gain regulatory approval in multiple countries.

Increasing Outsourcing of Research Activities

Pharmaceutical firms are increasingly outsourcing research activities to remain competitive and adaptable in a world of knowledge that is expanding at an exponential rate. Moreover, highly advanced technologies and an unstable economic climate is boosting the demand of Research and Development outsourced by other organization. From early-stage development to late-stage research and development, companies choose to outsource a wide range of R&D tasks, such as genetic engineering, target validation, assay development, hit exploration, lead optimization, safety and efficacy testing in animal models, human clinical trials, and others. Many businesses, especially small and mid-sized (SMEs) organizations in the healthcare sector find it expensive to maintain in-house R&D services. These businesses have high overhead expenditures, such as those related to administration, equipment, and training. By contracting with suppliers to provide R&D services, these costs can be cut. The cost of facilities or equipment required for research initiatives can be reduced for businesses by outsourcing R&D services form other organizations. Moreover, R&D process outsourcing aids businesses in acquiring access to cutting-edge technology. Outsourcing drug development activities to CROs can help companies mitigate risk by providing access to experienced professionals who can help navigate complex regulatory environments and ensure compliance with regulatory requirements. Additionally, CROs can help companies conduct trials more efficiently by providing services such as site selection, patient recruitment, and monitoring, which can help reduce trial timelines and costs.

Therefore, outsourcing R&D services aids businesses in reducing operational costs, which in turn will raise demand for R&D outsourcing services.

Access to Specialized Expertise Drive the Contract Research Organization Market

Access to specialized expertise is a key driver of the contract research organization (CRO) market. Pharmaceutical and biotechnology companies often require specialized knowledge and expertise in various areas of drug development, such as clinical trial design, data management, and regulatory affairs. However, developing these capabilities in-house can be expensive and time-consuming.

CROs provide access to specialized expertise in these areas, allowing companies to leverage the knowledge and experience of CRO professionals to conduct trials and develop drugs more efficiently and effectively. This can be particularly valuable for small and mid-sized companies that may not have the resources to build these capabilities in-house. In addition, CROs can provide access to specialized equipment and technology, such as advanced imaging tools and high-throughput screening platforms, that may be too expensive for companies to acquire and maintain on their own.

Overall, access to specialized expertise is a key factor driving the growth of the CRO market, as companies seek to leverage the knowledge and experience of CRO professionals to accelerate drug development and improve the efficiency of clinical trials.

A rise in Chronic Diseases Prevalence

The leading cause of death for adults in almost all nations is today chronic diseases/non-communicable diseases, and in the coming ten years, that number is expected to rise by another 17%. This factor is anticipated to boost the demand for contract research organizations globally. A third of all persons worldwide struggle with numerous chronic conditions. In the US, four out of ten persons have two or more chronic diseases, making up six out of ten adults. The number of Americans with chronic diseases will rise by 46 million, or 37 percent, between 2000 and 2030. For those between the ages of 18 and 64, the most common chronic illnesses are diabetes (12%), hypertension (30%), cholesterol issues (20%), and respiratory illnesses (19%). Among adults 65 and older, the most prevalent chronic illnesses are hypertension (60%) abnormalities of the cholesterol (41%) arthritis (28%), heart disease (25%), and eye problems (23%). Moreover, women are more prone to chronic diseases than men. In developed nations, the top chronic diseases include arthritis, cardiovascular diseases, such as heart attacks and stroke, cancer, such as breast and colon cancer, diabetes, epilepsy, seizures, obesity, and oral health issues which are anticipated to increase research activities globally to achieve early diagnosis. This factor is fueling the demand for novel and advanced medicines along with research activities. This in turn is expected to accelerate the growth of contract research organizations globally.


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Market Segmentation

Global contract research organization market is segmented by service, size of CROs, application, end user, and regional distribution. Based on service the market is further fragmented into early phase development services, clinical research services, laboratory services, consulting services and data management services. Based on CRO the market is divided into Small Size, Medium Size, Large Size. Based on end use the market is categorised into Pharmaceutical and Biopharmaceutical Companies, Medical Device Companies, Academic Institutes. Based on application the market is divided into Oncology, Central Nervous System, Cardiovascular, Respiratory, Infectious Diseases, Autoimmune Disorders, and Others.

Regulatory risks Hampers the Market Growth-

Regulatory risks are a significant concern for the contract research organization (CRO) market. CROs operate in a heavily regulated environment, and changes in regulatory requirements or enforcement can affect the market demand for their services. For instance, regulatory authorities tighten their requirements for clinical trials, this could increase the costs and complexity of conducting trials, which could in turn reduce the demand for CRO services. On the other hand, regulatory authorities ease their requirements for clinical trials, this could lead to increased competition in the market, which could reduce profit margins for CROs. To manage regulatory risks, CROs maintain a deep understanding of regulatory requirements and ensure compliance with relevant regulations. This may involve investing in specialized expertise in areas such as regulatory affairs and GCP, and implementing robust quality management systems and data security measures to protect sensitive information.

In addition, CROs are subject to various regulations governing data privacy, human subjects protection, and good clinical practice (GCP). Failure to comply with these regulations can result in fines, legal action, or damage to the company's reputation. Overall, regulatory risks are a significant concern for CROs, and companies operating in this industry must be vigilant in managing these risks to ensure their long-term success.

Market Players

Abbott Laboratories, Agilent Technologies, Inc., PerkinElmer Inc., Fluidigm Corporation, Illumina, Inc., GE Healthcare, Bio-Rad Laboratories Inc., Cepheid Inc., Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche AG, bioMérieux SA, Horiba, Ltd., Qiagen N.V., Randox Laboratories Ltd., OriGene Technologies, Inc., Dynamic Biosensors GmbH, General Electric Company, Genalyte, Inc., Hologic, Inc., Arbor Biosciences, among others. 

Attribute

Details

Base Year

2022

Historical Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million and CAGR for 2018-2022 and 2023E-2028F

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments covered

·         Service

·         CROs

·         Application

·         End User

Regional scope

North America; Europe; Asia Pacific; South America; Middle East & Africa

Country scope

United States, Mexico, Canada, China, India, Japan, Australia; South Korea, Germany, France, United Kingdom, Italy, Spain, South Africa, UAE, Saudi Arabia, Brazil, Argentina, Colombia.

Key companies profiled

Abbott Laboratories, Agilent Technologies, Inc., PerkinElmer Inc., Fluidigm Corporation, Illumina, Inc., GE Healthcare, Bio-Rad Laboratories Inc., Cepheid Inc., Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche AG, bioMérieux SA, Horiba, Ltd., Qiagen N.V., Randox Laboratories Ltd., OriGene Technologies, Inc., Dynamic Biosensors GmbH, General Electric Company, Genalyte, Inc., Hologic, Inc., Arbor Biosciences.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, global contract research organization market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Global Contract research organization Market, By Service:
    • Early Phase Development Services
    • Clinical Research Services
    • Laboratory Services
    • Consulting Services
    • Data Management Services
  • Global Contract research organization Market, By CROs:
    • Small Size
    • Medium Size
    • Large Size
  • Global Contract research organization Market, By End User:
    • Pharmaceutical and Biopharmaceutical Companies
    • Medical Device Companies
    • Academic Institutes
  • Global Contract research organization Market, By Application:
    • Oncology
    • Central Nervous System
    • Cardiovascular
    • Respiratory
    • Infectious Diseases
    • Autoimmune Disorders
    • Others  
  • Global Contract research organization Market, By Region:
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • United Kingdom
      • Italy
      • Spain
      • Rest of Europe
    • Asia-Pacific
      • China
      • Japan
      • India
      • South Korea
      • Australia
      • Rest of Asia-Pacific
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
      • Rest of Middle East & Africa
    • South America
      • Brazil
      • Argentina
      • Colombia
      • Rest of South America

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global contract research organization market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Contract research organization Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]  

Table of content

1.    Service Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.     Markets Covered

1.2.2.     Years Considered for Study

1.2.3.     Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, and Trends

4.    Voice of Customer

5.    Global Contract Research Organizations Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value

5.2.  Market Share & Forecast

5.2.1.     By Service (Early Phase Development Services, Clinical Research Services, Laboratory Services, Consulting Services and Data Management Services)

5.2.2.     By Size of CROs (Small Size, Medium Size, Large Size)

5.2.3.     By Application (Oncology, Central Nervous System, Cardiovascular, Respiratory, Infectious Diseases, Autoimmune Disorders, Others)

5.2.4.     By End User (Pharmaceutical and Biopharmaceutical Companies, Medical Device Companies, Academic Institutes)

5.2.5.     By Region

5.2.6.     By Company

5.3.  Product Market Map

6.    North America Contract Research Organizations Market Outlook

6.1.  Market Size & Forecast          

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Service

6.2.2.     By Size of CROs

6.2.3.     By Application

6.2.4.     By End User

6.2.5.     By Country (United States; Canada; Mexico)

6.3.  North America: Country Analysis

6.3.1.     United States Contract Research Organizations Market Outlook

6.3.1.1.         Market Size & Forecast

6.3.1.1.1.             By Value

6.3.1.2.         Market Share & Forecast

6.3.1.2.1.             By Service

6.3.1.2.2.             By Size of CROs

6.3.1.2.3.             By Application

6.3.1.2.4.             By End User

6.3.2.     Canada Contract Research Organizations Market Outlook

6.3.2.1.         Market Size & Forecast

6.3.2.1.1.             By Value

6.3.2.2.         Market Share & Forecast

6.3.2.2.1.             By Service

6.3.2.2.2.             By Size of CROs

6.3.2.2.3.             By Application

6.3.2.2.4.             By End User

6.3.3.     Mexico Contract Research Organizations Market Outlook

6.3.3.1.         Market Size & Forecast

6.3.3.1.1.             By Value

6.3.3.2.         Market Share & Forecast

6.3.3.2.1.             By Service

6.3.3.2.2.             By Size of CROs

6.3.3.2.3.             By Application

6.3.3.2.4.             By End User

7.    Europe Contract Research Organizations Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Service

7.2.2.     By Size of CROs

7.2.3.     By Application

7.2.4.     By End User

7.2.5.     By Country (France; Germany; UK; Italy; Spain and Rest of Europe)

7.3.  Europe: Country Analysis

7.3.1.     United Kingdom Contract Research Organizations Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Service

7.3.1.2.2.             By Size of CROs

7.3.1.2.3.             By Application

7.3.1.2.4.             By End User

7.3.2.     Germany Contract Research Organizations Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Service

7.3.2.2.2.             By Size of CROs

7.3.2.2.3.             By Application

7.3.2.2.4.             By End User

7.3.3.     France Contract Research Organizations Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Service

7.3.3.2.2.             By Size of CROs

7.3.3.2.3.             By Application

7.3.3.2.4.             By End User

7.3.4.     Italy Contract Research Organizations Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Value

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Service

7.3.4.2.2.             By Size of CROs

7.3.4.2.3.             By Application

7.3.4.2.4.             By End User

7.3.5.     Spain Contract Research Organizations Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Value

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Service

7.3.5.2.2.             By Size of CROs

7.3.5.2.3.             By Application

7.3.5.2.4.             By End User

8.    Asia-Pacific Contract Research Organizations Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Service

8.2.2.     By Size of CROs

8.2.3.     By Application

8.2.4.     By End User

8.2.5.     By Country (China; India; Japan; South Korea; Australia; and Rest of Asia Pacific)

8.3.  Asia-Pacific: Country Analysis

8.3.1.     China Contract Research Organizations Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Service

8.3.1.2.2.             By Size of CROs

8.3.1.2.3.             By Application

8.3.1.2.4.             By End User

8.3.2.     Japan Contract Research Organizations Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Service

8.3.2.2.2.             By Size of CROs

8.3.2.2.3.             By Application

8.3.2.2.4.             By End User

8.3.3.     India Contract Research Organizations Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Service

8.3.3.2.2.             By Size of CROs

8.3.3.2.3.             By Application

8.3.3.2.4.             By End User

8.3.4.     Australia Contract Research Organizations Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Value

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Service

8.3.4.2.2.             By Size of CROs

8.3.4.2.3.             By Application

8.3.4.2.4.             By End User

8.3.5.     South Korea Contract Research Organizations Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Value

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Service

8.3.5.2.2.             By Size of CROs

8.3.5.2.3.             By Application

8.3.5.2.4.             By End User

9.    Middle East and Africa Printing Ink Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Service

9.2.2.     By Size of CROs

9.2.3.     By Application

9.2.4.     By End User

9.2.5.     By Country (UAE; Saudi Arabia; South Africa and Rest of Middle East & Africa)

9.3.  MEA: Country Analysis

9.3.1.     South Africa Contract Research Organizations Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Service

9.3.1.2.2.             By Size of CROs

9.3.1.2.3.             By Application

9.3.1.2.4.             By End User

9.3.2.     Saudi Arabia Contract Research Organizations Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Service

9.3.2.2.2.             By Size of CROs

9.3.2.2.3.             By Application

9.3.2.2.4.             By End User

9.3.3.     UAE Contract Research Organizations Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Service

9.3.3.2.2.             By Size of CROs

9.3.3.2.3.             By Application

9.3.3.2.4.             By End User

10.  South America Contract Research Organizations Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Service

10.2.2.  By Size of CROs

10.2.3.