Product Code: 978-1-68038-688-2
Healthcare Contract Research Organization Market Growth & Trends
The global healthcare contract research organization market size is expected to reach USD 80.5 billion by 2030 and is projected to expand at a CAGR of 7.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing cost of drug development is expected to drive market demand over the forecast period. Also, rising clinical trials cost and challenges pertaining to patient recruitment have led biopharmaceutical companies to turn to regions like Central and Eastern Europe, Asia Pacific, Latin America, and the Middle East for cost savings and quick patient recruitment.
In addition, growing pressure on industry players to follow stringent timelines has increased the demand for outsourcing research activities to contract research organizations(CRO)s. Some government organizations are also outsourcing their clinical trial activities so that they can carry out clinical trials with the required infrastructure and expertise and minimize their cost and timelines.
The CRO market was temporarily affected by the ongoing pandemic, as it led to the closure of clinical trial sites. However, owing to the significant demand for treatments, the clinical trial sites were reopened with certain measures and precautions to avoid the spread of the virus. Moreover, the worldwide focus on finding a vaccine against coronavirus has had a significant impact on the development of vaccines & drugs for COVID-19. This is expected to have a positive impact on the market.
Over the past 5 years, the number of mergers and acquisitions significantly increased. Several large mergers have been witnessed since 2016 till 2023. Moreover, the trend of large transactions seems to be picking up since 2021, as in March 2022, M&B Sciences Inc, acquired Clara Health, which expanded M&B Sciences' access to digital technology-based clinical trials. Moreover, in December 2021, Thermo Fisher announced the acquisition of pharmaceutical services giant PPD, and in February 2021, ICON plc announced the acquisition of PRA Health Sciences. An era of consolidation has been witnessed around analytical technologies and software solutions used in the biopharmaceutical and pharmaceutical companies' services space. Hence, the aforementioned factors supported the market's growth.
Healthcare Contract Research Organization Market Report Highlights
- Based on type, the clinical segment has dominated the global healthcare CRO market in 2022, with the largest share of 76.2% owing to the fact that it comprises four elaborate phases, including human subjects. The significant demand for new treatments has further contributed to the growth of the segment
- Among services, the clinical monitoring segment was the largest in terms of market share at 20.2% in 2022
- North America held a significant market share of 24.8% in 2022 due to the presence of several global players who invest a major part of their revenue in research activities
- Asia Pacific is anticipated to witness lucrative growth of 9.5% over the forecast period due to the reduced cost it offers in comparison to the western economies
- China, Japan, and India are projected to witness tremendous growth in the contract research organization market owing to high disease prevalence
Table of content
Chapter 1. Methodology And Scope
- 1.1. Market Segmentation & Scope
- 1.1.1. Segment Definitions
- 1.1.2. Type
- 1.1.3. Service
- 1.2. Regional Scope
- 1.3. Estimates And Forecast Timeline
- 1.4. Objectives
- 1.4.1. Objective-1
- 1.4.2. Objective-2
- 1.4.3. Objective-3
- 1.5. Research Methodology
- 1.6. Information Procurement
- 1.6.1. Purchased Database
- 1.6.2. GVR's Internal Database
- 1.6.3. Secondary Sources
- 1.6.4. Primary Research
- 1.7. Information Or Data Analysis
- 1.7.1. Data Analysis Models
- 1.8. Market Formulation & Validation
- 1.9. Model Details
- 1.9.1. Commodity Flow Analysis
- 1.9.2. Parent Market Analysis
- 1.10. List Of Secondary Sources
- 1.11. List Of Abbreviations
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Healthcare Contract Research Organization Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent Market Outlook
- 3.1.2. Related/Ancillary Market Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.1.1. Increasing Rate of Clinical Research To Boost Demand For Outsourcing Services
- 3.2.1.2. Increasing Adoption Of Advanced Technologies
- 3.2.1.3. Increasing Mergers and Collaborations
- 3.2.1.4. Increasing Demand For Outsourcing Services Across The Developing Economies
- 3.2.1.5. Patent Cliff
- 3.2.2. Market Restraint Analysis
- 3.2.2.1. Quality issues of CRO services
- 3.2.2.2. Intellectual property rights issues
- 3.3. Healthcare Contract Research Organization Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Supplier Power
- 3.3.1.2. Buyer Power
- 3.3.1.3. Substitution Threat
- 3.3.1.4. Threat Of New Entrant
- 3.3.1.5. Competitive Rivalry
- 3.3.2. PESTEL Analysis
- 3.3.3. COVID-19 Impact Analysis
Chapter 4. Healthcare Contract Research Organization Market: Type Estimates & Trend Analysis
- 4.1. Healthcare Contract Research Organization Market, By Type: Segment Dashboard
- 4.2. Healthcare Contract Research Organization Market, By Type: Movement Analysis
- 4.3. Healthcare Contract Research Organization Market Estimates & Forecasts, By Type, 2018 - 2030
- 4.3.1. Drug Discovery
- 4.3.1.1. Drug Discovery Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
- 4.3.1.2. Target Validation
- 4.3.1.2.1. Target Validation Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
- 4.3.1.3. Lead Identification
- 4.3.1.3.1. Lead Identification Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
- 4.3.1.4. Lead Optimization
- 4.3.1.4.1. Lead Optimization Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
- 4.3.2. Pre-clinical
- 4.3.2.1. Pre-clinical Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
- 4.3.3. Clinical
- 4.3.3.1. Clinical Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
- 4.3.3.2. Phase I Trial Services
- 4.3.3.2.1. Phase I Trial Services Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
- 4.3.3.3. Phase II Trial Services
- 4.3.3.3.1. Phase II Trial Services Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
- 4.3.3.4. Phase III Trial Services
- 4.3.3.4.1. Phase III Trial Services Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
- 4.3.3.5. Phase IV Trial Services
- 4.3.3.5.1. Phase IV Trial Services Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
Chapter 5. Healthcare Contract Research Organization Market: Services Estimates & Trend Analysis
- 5.1. Healthcare Contract Research Organization Market, By Services: Segment Dashboard
- 5.2. Healthcare Contract Research Organization Market, By Services: Movement Analysis
- 5.3. Healthcare Contract Research Organization Market Estimates & Forecasts, By Services, 2018 - 2030
- 5.3.1. Project Management/Clinical Supply Management
- 5.3.1.1. Project Management/Clinical Supply Management Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
- 5.3.2. Data Management
- 5.3.2.1. Data Management Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
- 5.3.3. Regulatory/Medical Affairs
- 5.3.3.1. Regulatory/Medical Affairs Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
- 5.3.4. Medical Writing
- 5.3.4.1. Medical Writing Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
- 5.3.5. Clinical Monitoring
- 5.3.5.1. Clinical Monitoring Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
- 5.3.6. Quality Management/Assurance
- 5.3.6.1. Quality Management/Assurance Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
- 5.3.7. Bio-statistics
- 5.3.7.1. Bio-statistics Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
- 5.3.8. Investigator Payments
- 5.3.8.1. Investigator Payments Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
- 5.3.9. Laboratory
- 5.3.9.1. Laboratory Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
- 5.3.10. Patient and Site Recruitment
- 5.3.10.1. Patient and Site Recruitment Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
- 5.3.11. Technology
- 5.3.11.1. Technology Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
- 5.3.12. Others
- 5.3.12.1. Others Healthcare Contract Research Organization Market, 2018 to 2030 (USD Million)
Chapter 6. Healthcare Contract Research Organization Market: Regional Estimates & Trend Analysis
- 6.1. Regional Market Share Analysis, 2022 & 2030
- 6.2. Regional Market Dashboard
- 6.3. Global Regional Market Snapshot
- 6.4. North America
- 6.4.1. Market Estimates and Forecast, 2018 - 2030 (Revenue, USD Million)
- 6.4.2. U.S.
- 6.4.2.1. Key Country Dynamics
- 6.4.2.2. Competitive Scenario
- 6.4.2.3. Regulatory Framework
- 6.4.2.4. U.S. Market Estimates and Forecasts, 2018 - 2030
- 6.4.3. Canada
- 6.4.3.1. Key Country Dynamics
- 6.4.3.2. Competitive Scenario
- 6.4.3.3. Regulatory Framework
- 6.4.3.4. Canada Market Estimates and Forecasts, 2018 - 2030
- 6.5. Europe
- 6.5.1. UK
- 6.5.1.1. Key Country Dynamics
- 6.5.1.2. Competitive Scenario
- 6.5.1.3. Regulatory Framework
- 6.5.1.4. UK Market Estimates and Forecasts, 2018 - 2030
- 6.5.2. Germany
- 6.5.2.1. Key Country Dynamics
- 6.5.2.2. Competitive Scenario
- 6.5.2.3. Regulatory Framework
- 6.5.2.4. Germany Market Estimates and Forecasts, 2018 - 2030
- 6.5.3. France
- 6.5.3.1. Key Country Dynamics
- 6.5.3.2. Competitive Scenario
- 6.5.3.3. Regulatory Framework
- 6.5.3.4. France Market Estimates and Forecasts, 2018 - 2030
- 6.5.4. Italy
- 6.5.4.1. Key Country Dynamics
- 6.5.4.2. Competitive Scenario
- 6.5.4.3. Regulatory Framework
- 6.5.4.4. Italy Market Estimates and Forecasts, 2018 - 2030
- 6.5.5. Spain
- 6.5.5.1. Key Country Dynamics
- 6.5.5.2. Competitive Scenario
- 6.5.5.3. Regulatory Framework
- 6.5.5.4. Spain Market Estimates and Forecasts, 2018 - 2030
- 6.5.6. Switzerland
- 6.5.6.1. Key Country Dynamics
- 6.5.6.2. Competitive Scenario
- 6.5.6.3. Regulatory Framework
- 6.5.6.4. Switzerland Market Estimates and Forecasts, 2018 - 2030
- 6.5.7. Belgium
- 6.5.7.1. Key Country Dynamics
- 6.5.7.2. Competitive Scenario
- 6.5.7.3. Regulatory Framework
- 6.5.7.4. Belgium Market Estimates and Forecasts, 2018 - 2030
- 6.5.8. Netherlands
- 6.5.8.1. Key Country Dynamics
- 6.5.8.2. Competitive Scenario
- 6.5.8.3. Regulatory Framework
- 6.5.8.4. Netherlands Market Estimates and Forecasts, 2018 - 2030
- 6.5.9. Austria
- 6.5.9.1. Key Country Dynamics
- 6.5.9.2. Competitive Scenario
- 6.5.9.3. Regulatory Framework
- 6.5.9.4. Austria Market Estimates and Forecasts, 2018 - 2030
- 6.6. Asia Pacific
- 6.6.1. Japan
- 6.6.1.1. Key Country Dynamics
- 6.6.1.2. Competitive Scenario
- 6.6.1.3. Regulatory Framework
- 6.6.1.4. Japan Market Estimates and Forecasts, 2018 - 2030
- 6.6.2. India
- 6.6.2.1. Key Country Dynamics
- 6.6.2.2. Competitive Scenario
- 6.6.2.3. Regulatory Framework
- 6.6.2.4. India Market Estimates and Forecasts, 2018 - 2030
- 6.6.3. China
- 6.6.3.1. Key Country Dynamics
- 6.6.3.2. Competitive Scenario
- 6.6.3.3. Regulatory Framework
- 6.6.3.4. China Market Estimates and Forecasts, 2018 - 2030
- 6.6.4. South Korea
- 6.6.4.1. Key Country Dynamics
- 6.6.4.2. Competitive Scenario
- 6.6.4.3. Regulatory Framework
- 6.6.4.4. South Korea Market Estimates and Forecasts, 2018 - 2030
- 6.6.5. Australia
- 6.6.5.1. Key Country Dynamics
- 6.6.5.2. Competitive Scenario
- 6.6.5.3. Regulatory Framework
- 6.6.5.4. Australia Market Estimates and Forecasts, 2018 - 2030
- 6.6.6. Thailand
- 6.6.6.1. Key Country Dynamics
- 6.6.6.2. Competitive Scenario
- 6.6.6.3. Regulatory Framework
- 6.6.6.4. Thailand Market Estimates and Forecasts, 2018 - 2030
- 6.6.7. Taiwan
- 6.6.7.1. Key Country Dynamics
- 6.6.7.2. Competitive Scenario
- 6.6.7.3. Regulatory Framework
- 6.6.7.4. Taiwan Market Estimates and Forecasts, 2018 - 2030
- 6.6.8. Indonesia
- 6.6.8.1. Key Country Dynamics
- 6.6.8.2. Competitive Scenario
- 6.6.8.3. Regulatory Framework
- 6.6.8.4. Indonesia Market Estimates and Forecasts, 2018 - 2030
- 6.6.9. Malaysia
- 6.6.9.1. Key Country Dynamics
- 6.6.9.2. Competitive Scenario
- 6.6.9.3. Regulatory Framework
- 6.6.9.4. Malaysia Market Estimates and Forecasts, 2018 - 2030
- 6.6.10. Singapore
- 6.6.10.1. Key Country Dynamics
- 6.6.10.2. Competitive Scenario
- 6.6.10.3. Regulatory Framework
- 6.6.10.4. Singapore Market Estimates and Forecasts, 2018 - 2030
- 6.7. Latin America
- 6.7.1. Brazil
- 6.7.1.1. Key Country Dynamics
- 6.7.1.2. Competitive Scenario
- 6.7.1.3. Regulatory Framework
- 6.7.1.4. Brazil Market Estimates and Forecasts, 2018 - 2030
- 6.7.2. Mexico
- 6.7.2.1. Key Country Dynamics
- 6.7.2.2. Competitive Scenario
- 6.7.2.3. Regulatory Framework
- 6.7.2.4. Mexico Market Estimates and Forecasts, 2018 - 2030
- 6.7.3. Argentina
- 6.7.3.1. Key Country Dynamics
- 6.7.3.2. Competitive Scenario
- 6.7.3.3. Regulatory Framework
- 6.7.3.4. Argentina Market Estimates and Forecasts, 2018 - 2030
- 6.7.4. Colombia
- 6.7.4.1. Key Country Dynamics
- 6.7.4.2. Competitive Scenario
- 6.7.4.3. Regulatory Framework
- 6.7.4.4. Colombia Market Estimates and Forecasts, 2018 - 2030
- 6.7.5. Chile
- 6.7.5.1. Key Country Dynamics
- 6.7.5.2. Competitive Scenario
- 6.7.5.3. Regulatory Framework
- 6.7.5.4. Chile Market Estimates and Forecasts, 2018 - 2030
- 6.8. Middle East & North Africa
- 6.8.1. Egypt
- 6.8.1.1. Key Country Dynamics
- 6.8.1.2. Competitive Scenario
- 6.8.1.3. Regulatory Framework
- 6.8.1.4. Egypt Market Estimates and Forecasts, 2018 - 2030
- 6.8.2. Saudi Arabia
- 6.8.2.1. Key Country Dynamics
- 6.8.2.2. Competitive Scenario
- 6.8.2.3. Regulatory Framework
- 6.8.2.4. Saudi Arabia Market Estimates and Forecasts, 2018 - 2030
- 6.8.3. UAE
- 6.8.3.1. Key Country Dynamics
- 6.8.3.2. Competitive Scenario
- 6.8.3.3. Regulatory Framework
- 6.8.3.4. UAE Market Estimates and Forecasts, 2018 - 2030
- 6.8.4. Iran
- 6.8.4.1. Key Country Dynamics
- 6.8.4.2. Competitive Scenario
- 6.8.4.3. Regulatory Framework
- 6.8.4.4. Iran Market Estimates and Forecasts, 2018 - 2030
- 6.8.5. Israel
- 6.8.5.1. Key Country Dynamics
- 6.8.5.2. Competitive Scenario
- 6.8.5.3. Regulatory Framework
- 6.8.5.4. Israel Market Estimates and Forecasts, 2018 - 2030
- 6.9. Rest of the World
- 6.9.1. South Africa
- 6.9.1.1. Key Country Dynamics
- 6.9.1.2. Competitive Scenario
- 6.9.1.3. Regulatory Framework
- 6.9.1.4. South Africa Market Estimates and Forecasts, 2018 - 2030
Chapter 7. Competitive Landscape
- 7.1. Market Participant Categorization
- 7.1.1. Innovators
- 7.1.2. Market Leaders
- 7.1.3. Emerging Players
- 7.1.4. Company Market Share Analysis, 2022
- 7.2. Company Profiles
- 7.2.1. ICON Plc
- 7.2.1.1. Company Overview
- 7.2.1.2. Financial Performance
- 7.2.1.3. Service Benchmarking
- 7.2.1.4. Strategic Initiatives
- 7.2.2. Charles River Laboratories
- 7.2.2.1. Company Overview
- 7.2.2.2. Financial Performance
- 7.2.2.3. Service Benchmarking
- 7.2.2.4. Strategic Initiatives
- 7.2.3. Syneos Health
- 7.2.3.1. Company Overview
- 7.2.3.2. Financial Performance
- 7.2.3.3. Service Benchmarking
- 7.2.3.4. Strategic Initiatives
- 7.2.4. IQVIA Inc
- 7.2.4.1. Company Overview
- 7.2.4.2. Financial Performance
- 7.2.4.3. Service Benchmarking
- 7.2.4.4. Strategic Initiatives
- 7.2.5. GVK Biosciences Private Limited
- 7.2.5.1. Company Overview
- 7.2.5.2. Financial Performance
- 7.2.5.3. Service Benchmarking
- 7.2.5.4. Strategic Initiatives
- 7.2.6. Laboratory Corporation of America Holdings
- 7.2.6.1. Company Overview
- 7.2.6.2. Financial Performance
- 7.2.6.3. Service Benchmarking
- 7.2.6.4. Strategic Initiatives
- 7.2.7. Thermo Fisher Scientific Inc.
- 7.2.7.1. Company Overview
- 7.2.7.2. Financial Performance
- 7.2.7.3. Service Benchmarking
- 7.2.7.4. Strategic Initiatives
- 7.2.8. Parexel International Corporation
- 7.2.8.1. Company Overview
- 7.2.8.2. Financial Performance
- 7.2.8.3. Service Benchmarking
- 7.2.8.4. Strategic Initiatives
- 7.2.9. Medidata Solutions, Inc
- 7.2.9.1. Company Overview
- 7.2.9.2. Financial Performance
- 7.2.9.3. Service Benchmarking
- 7.2.9.4. Strategic Initiatives
- 7.2.10. Pharmaron GMBH.
- 7.2.10.1. Company Overview
- 7.2.10.2. Financial Performance
- 7.2.10.3. Service Benchmarking
- 7.2.10.4. Strategic Initiatives
- 7.2.11. SGS SA
- 7.2.11.1. Company Overview
- 7.2.11.2. Financial Performance
- 7.2.11.3. Service Benchmarking
- 7.2.11.4. Strategic Initiatives
- 7.2.12. KCR S.A.
- 7.2.12.1. Company Overview
- 7.2.12.2. Financial Performance
- 7.2.12.3. Service Benchmarking
- 7.2.12.4. Strategic Initiatives
- 7.2.13. CTI Clinical Trial & Consulting
- 7.2.13.1. Company Overview
- 7.2.13.2. Financial Performance
- 7.2.13.3. Service Benchmarking
- 7.2.13.4. Strategic Initiatives
- 7.2.14. PSI
- 7.2.14.1. Company Overview
- 7.2.14.2. Financial Performance
- 7.2.14.3. Service Benchmarking
- 7.2.14.4. Strategic Initiatives
- 7.2.15. Worldwide Clinical Trials
- 7.2.15.1. Company Overview
- 7.2.15.2. Financial Performance
- 7.2.15.3. Service Benchmarking
- 7.2.15.4. Strategic Initiatives
- 7.2.16. Wuxi AppTec
- 7.2.16.1. Company Overview
- 7.2.16.2. Financial Performance
- 7.2.16.3. Service Benchmarking
- 7.2.16.4. Strategic Initiatives
- 7.2.17. Advanced Clinical
- 7.2.17.1. Company Overview
- 7.2.17.2. Financial Performance
- 7.2.17.3. Service Benchmarking
- 7.2.17.4. Strategic Initiatives
- 7.2.18. Caidya
- 7.2.18.1. Company Overview
- 7.2.18.2. Financial Performance
- 7.2.18.3. Service Benchmarking
- 7.2.18.4. Strategic Initiatives