Contract Research Organization Services (CROs) Market

Contract Research Organization Services (CROs) Market by Type (Discovery, CMC, Preclinical, Clinical Research, Laboratory Services), Therapeutic Area (Oncology, CNS, Cardiovascular), End User (Pharmaceuticals & Medical Device) - Global Forecast to 2025

Report Code: PH 4672 Apr, 2020, by marketsandmarkets.com

[272 Pages Report] The global Contract Research Organization (CRO) services market is projected to reach USD 73.77 billion by 2025 from USD 47.77 billion in 2020, at a CAGR of 9.1% during the forecast period. Market growth can be attributed to the growing R&D expenditure, increased outsourcing of R&D activities, and an increasing number of clinical trials.

Contract Research Organizations (CROs) Services Market

Based on type, clinical research services accounted for the largest share of the global CRO services market in 2019.

 Based on type, clinical research accounted for the largest share, which can be attributed to rapid growth in the geriatric population and the subsequent increase in the prevalence of chronic diseases, increasing the development of new drugs, and growing acceptance of evidence-based medicine for various therapeutic areas.

Based on the therapeutic area, oncology accounted for the largest share of the global CRO services market in 2019.

The global CRO services market, by therapeutic area, is segmented into oncology, CNS disorders, infectious diseases, CVS disorders, metabolic disorders, respiratory disorders, immunological disorders, ophthalmology, and other therapeutic areas. The large share of the oncology segment can be attributed to the increasing number of clinical trials and the rising prevalence of cancer worldwide.

In 2019, the pharmaceutical and biopharmaceutical companies segment accounted for the largest share of the market.

The large share of this segment can be attributed to the increased outsourcing of early phase development services and clinical and laboratory testing services by pharmaceutical companies to boost profit margins, avoid high capital expenditure, and reduce the time duration to validate the process and product.

Contract Research Organizations (CROs) Services Market

North America will continue to dominate the CRO services market during the forecast period Geographically, the global CRO services market has been segmented into five major regional segments—North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2019, North America accounted for the largest share of the CRO services market in 2019, followed by Europe and Asia Pacific. North America’s leading position in this market is primarily attributed to the high-quality standards in the pharmaceutical industry, rapid growth in its biosimilar and biologics market, and an increase in clinical trial activity.

Key Market Players

The prominent players in the global CRO services market are IQVIA (US), LabCorp (US), PAREXEL (US), PRA Health Sciences (US), PPD (US), ICON plc (Ireland), Syneos Health (US), Charles River (US), WuXi AppTech (China), SGS (Switzerland) and Medpace (US).

IQVIA dominates the CRO services market, led by its strong performance in the biopharmaceutical services industry with extensive geographical coverage. The company’s foothold in the market is primarily attributed to various factors such as strong technical and service capabilities, good client relationships, diversified service offerings, and its ability to expand the penetration of its offerings to a broad range. The company has registered significant growth in the biopharmaceutical services industry, and has a presence in all major markets, including the US, Japan, Germany, France, Spain, and Italy, in addition to Brazil, Russia, India, and China (BRIC countries). To increase its geographic presence and customer base, the company focused on expansion as a key growth strategy. Over the past three years, the company has made three major expansions. Moreover, IQVIA also focused on mergers and acquisitions to enhance and strengthen its position in the global market.

Scope of the Report

In this report, the CRO services market has been segmented into the following segments and subsegments:

CRO Services Market, by Type

  • Early Phase Development Services
    • Discovery Studies
    • Chemistry, Manufacturing & Control
    • Preclinical Services
  • Pharmacokinetics/Pharmacodynamics (PK/PD)
  • Toxicology Testing
  • Others
  • Clinic Research Services
    • Phase I
    • Phase II
    • Phase III
    • Phase IV
  • Laboratory Services
    • Bioanalytical Testing
    • Analytical Testing
  • Physical Characterization
  • Stability Testing
  • Batch Release Testing
  • Raw Material Testing
  • Other Analytical Testing
  • Consulting Services
  • Data Management Services

CRO Services Market, by Therapeutic Area

  • Oncology
  • CNS Disorders
  • Infectious Diseases
  • CVS Disorders
  • Metabolic Disorders
  • Immunological Disorders
  • Respiratory Disorders
  • Ophthalmology
  • Other Therapeutic Areas

CRO Services Market, by End User

  • Pharmaceutical and Biopharmaceutical Companies
  • Medical Device Companies
  • Academic Institutes

CRO Services Market, by Region

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
  • The Middle East and Africa

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table Of Content

1 Introduction
    1.1 Objectives of study
    1.2 Market definition
    1.3 Market scope
           1.3.1 Markets covered
           1.3.2 Years considered for the study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology
    2.1 Research approach
    2.2 Market size estimation
    2.3 Market breakdown and data triangulation
    2.4 Market share estimation
           2.4.1 Key data from secondary sources
    2.5 Key data from primary sources
           2.5.1 Key Industry Insights
    2.6 Assumptions for the study

3 Executive Summary

4 Premium Insights

5 Market Overview
    5.1 Introduction
    5.2 Market segmentation
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Growing  R&D expenditures
                    5.3.1.2 Increased outsourcing of R&D activities
                    5.3.1.3 Increasing demand of outsourcing analytical testing and clinical trial services
                    5.3.1.4 Increase in clinical trials
           5.3.2 Restraints
                    5.3.2.1 Regulatory pressure on CROs
           5.3.3 Opportunities
                    5.3.3.1 Growing biosimilars and biologics market
                    5.3.3.2 Rising demand for specialized testing services
           5.3.4 Challenges
                    5.3.4.1 Growing competition in the CRO industry
                    5.3.4.2 Regulatory pressure on pharma and medical device manufacturers to drive more detailed chemical analysis of drugs, and devices
                    5.3.4.3 Shortage of skilled professionals

6 Industry Insight
    6.1 Industry Trends
           6.1.1 Growing consolidation in the CROs industry
           6.1.2 Globalization of clinical trials
           6.1.3 Increasing demnad of outsourcing various services and preferred vendor partnerships
           6.1.4 Technological Advancement

7 Contract Research Organization Market, By Services
    7.1 Introduction
    7.2 Early Phase Development Services
           7.2.1 Discovery Studies
           7.2.2 Chemistry, Manufacturing & Control
           7.2.3 Preclinical
                    7.2.3.1 Pharmacokinetics/Pharmacodynamics (PK/PD)
                    7.2.3.2 Toxicology Testing
                    7.2.3.3 Other Preclinical Services
    7.3 Clinical Research Services
           7.3.1 Phase I
           7.3.2 Phase II
           7.3.3 Phase III
           7.3.4 Phase IV
    7.4 Laboratory Services
           7.4.1 Bioanalytical Testing
           7.4.2 Analytical Testing
                    7.4.2.1 Physical Characterization
                    7.4.2.2 Stability Testing
                    7.4.2.3 Batch Release Testing
                    7.4.2.4 Raw Material Testing
                    7.4.2.5 Other Analytical Testing
    7.5 Consulting Services
    7.6 Data Management Services

8 Contract Research Organization Market, By Therapeutic Areas
    8.1 Oncology
    8.2 Central Nervous System
    8.3 Cardiovascular 
    8.4 Respiratory
    8.5 Infectious Diseases
    8.6 Autoimmune Disorders
    8.7 Diabetes
    8.8 Others

9 Contract Research Organization Market, By End User
    9.1 Pharmaceutical and Biopharmaceutical Companies
    9.2 Medical Device Companies
    9.3 Academic Institutes

10 Geographic Analysis
     10.1 Introduction
     10.2 North America
             10.2.1 U.S.
             10.2.2 Canada
     10.3 Europe
             10.3.1 Germany
             10.3.2 France
             10.3.3 U.K.
             10.3.4 Italy
             10.3.5 Spain
             10.3.6 Rest of Europe (RoE)
     10.4 APAC
             10.4.1 China
             10.4.2 Japan
             10.4.3 India
             10.4.4 RoAPAC
             10.4.5 Latin America
             10.4.6 Middle East & Africa

11 Competitive Landscape
     11.1 Overview
     11.2 Market Share Analysis
     11.3 Competitive Situation & Trends
             11.3.1 Agreements, collaborations, joint ventures, and partnerships
             11.3.2 Expansions
             11.3.3 Mergers and acquisitions
             11.3.4  New Service launches

12 Company Profiles
     12.1 IQVIA
     12.2 LabCorp
     12.3 Charles river Laboratories
     12.4 WuXi Apptec
     12.5 Syneos Health Inc.
     12.6 Paraxel International 
     12.7 PRA Health Sciences
     12.8 PPD
     12.9 ICON Plc
     12.10 Medpace Holdings
     12.11 SGS
     12.12 PSI CRO AG
     12.13 Axcent Advanced Analytics (A3)
     12.14 BIO Agile Therapeutics
     12.15 Firma Clinical Research
     12.16 Acculab Lifesciences
     12.17 Azelix
     12.18 CTSERV
     12.19 PEPGRA
     12.20 Dove Quality Solutions

13 Appendix
     13.1 Insights of industry experts
     13.2 Discussion Guide
     13.3 Other Developments
     13.4 Knowledge Store: MarketsandMarkets' Subscription Portal
     13.5 Available customizations
     13.6 Introducing RT: Real Time Market Intelligence

The study involved four major activities for estimating the size of the CRO services market. Exhaustive secondary research was done to collect information on the market, including its peer markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.

Secondary Research

Various secondary sources such as the Association of Clinical Research Organizations (ACRO), Clinical Research Society (CRS), Clinical Research Association of Canada (CRAC), Association of International Contract Research Organizations (AICROS), Clinical and Contract Research Association (CCRA), American Association of Pharmaceutical Scientists (AAPS), annual reports/SEC filings as well as investor presentations, and press releases of key players have been used to identify and collect information useful for the study of the medical device cleaning market.

Primary Research

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources from the supply side include CEOs, consultants, subject-matter experts, directors, general managers, developers, and other key opinion leaders of the various companies that offer CRO services.

Primary research was conducted to identify segmentation types, industry trends; technology trends; key players; and key market dynamics such as drivers, opportunities, challenges, and key player strategies.

Objectives of the Study

  • To define, describe, segment and forecast the global CRO services market by type, therapeutic area, end-user, and region
  • To forecast the size of the CRO services market with respect to the five key regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
  • To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
  • To profile the key players in the global CRO services market and comprehensively analyze their core competencies2
  • To track and analyze competitive developments such as mergers and acquisitions; agreements, partnerships, and collaborations; service launches; and expansions of key players in the global CRO services market
  • 1. Micro markets are defined as the further segments and subsegments of the CRO services market included in the report
  • 2. Core competencies of the companies are the key services and technologies offered by them to sustain their positions in the market

Research Methodology

Top-down and bottom-up approaches were used to validate the size of the global CRO services market and estimate the size of other dependent submarkets. Various secondary sources such as directories, industry journals, databases (such as Hoover’s, Bloomberg Business, Factiva, and Avention), and annual reports of the companies have been used to identify and collect information useful for the study of this market. Primary sources such as experts from both supply and demand sides have been interviewed to obtain and validate information as well as to assess the dynamics of this market. The breakdown of profiles of primary research participants is shown in the figure below:

Contract Research Organizations (CROs) Services Market

To know about the assumptions considered for the study, download the pdf brochure

IQVIA (US), LabCorp (US), Syneos Health (US), PAREXEL (US), PPD (US), ICON plc (Ireland), PRA Health Sciences (US), and Charles River (US) are some of the key players in the global CRO services market.  

Target Audience

  • Pharmaceutical and biopharmaceutical companies
  • Contract research organizations (CROs)
  • Medical device manufacturing companies
  • Academic and research institutes
  • Government associations
  • Market research and consulting Firms
  • Venture capitalists and investors

Available Customization:

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Geographic Analysis

  • Further breakdown of the Rest of Asia Pacific CRO services market into Malaysia, New Zealand, and others
  • Further breakdown of the Rest of Europe CRO services market into Belgium, Russia, Netherlands, Switzerland, and others
  • Further breakdown of the Rest of Latin America CRO services market into Brazil, Argentina, and Mexico

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
COVID-19

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