Global CRO Services Market Size, Share & Trend Analysis By Service Type, By End User, By Application, Regional Outlook, Competitive Tactics, and Segment Forecast to 2031

The global CRO market size was valued at USD 42.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.5% from 2023 to 2031.

Global CRO Services Market: Breakup by Region, 2022 & 2031

Source: Primary Research and Secondary Research Analysis

The CRO (Contract Research Organization) services market is driven by several factors that include increasing demand for outsourcing clinical trials, the rising prevalence of chronic diseases, and the need to reduce drug development costs. Additionally, the growth of the pharmaceutical and biotechnology industries and the increasing trend towards personalized medicine are also driving the growth of the CRO services market.

One of the primary drivers of the CRO services market is the increasing demand for outsourcing clinical trials. Pharmaceutical and biotechnology companies are increasingly turning to CROs to conduct clinical trials due to their expertise, experience, and cost-effectiveness. Outsourcing clinical trials allows companies to focus on their core competencies while reducing drug development costs, which is critical in an increasingly competitive market.

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The rising prevalence of chronic diseases is also driving the growth of the CRO services market. Chronic diseases such as cancer, diabetes, and cardiovascular diseases require extensive research and development to develop effective treatments. CROs offer a range of services such as clinical trial management, data management, and statistical analysis, which are essential for the development of treatments for chronic diseases.

Another driver of the CRO services market is the need to reduce drug development costs. Developing new drugs is a costly and time-consuming process that requires extensive research and development. CROs offer cost-effective solutions by providing expertise, experience, and resources to conduct clinical trials, manage data, and analyze results. By outsourcing these activities, pharmaceutical and biotechnology companies can reduce their development costs and speed up the drug development process.

The growth of the pharmaceutical and biotechnology industries is also driving the CRO services market. These industries are expanding rapidly, driven by increasing demand for new and innovative treatments, personalized medicine, and the rising prevalence of chronic diseases. As these industries grow, so does the demand for CRO services, which are essential for the development of new drugs and treatments.

Finally, the increasing trend towards personalized medicine is also driving the growth of the CRO services market. Personalized medicine requires extensive research and development to develop treatments that are tailored to individual patients. CROs offer a range of services such as biomarker discovery and validation, patient recruitment and retention, and pharmacogenomics that are essential for the development of personalized medicine.

In conclusion, the CRO services market is driven by several factors that include increasing demand for outsourcing clinical trials, the rising prevalence of chronic diseases, and the need to reduce drug development costs. Additionally, the growth of the pharmaceutical and biotechnology industries and the increasing trend towards personalized medicine are also driving the growth of the CRO services market. As the demand for new and innovative treatments continues to grow, so does the demand for CRO services, making it a lucrative and essential industry in the healthcare sector.

Market Segmentation:

Market Breakup By Service Type

  • Early Phase Development Services
  • Clinical
  • Laboratory Service
  • Others

Market Breakup By End User

  • Pharmaceutical and Biotech Companies
  • Medical Device Companies
  • Academic and Research Institutes
  • Others

Market Breakup By Application

  • Oncology
  • CNS Disorder
  • Cardiology
  • Infectious Disease Metabolic Disorder
  • Renal/Nephroology
  • Others

Regional Analysis

Investments in facilities and resources in functional services such as central laboratories, imaging, and clinical supplies are predictable to drive the development of the contract research organisation (CROs) services marketplace in the province in the upcoming years and the country section of the report also provides separate marketplace impacting factors and changes in regulation in the marketplace locally that impacts the present and coming trends of the marketplace. Statistics points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Likewise, the occurrence and availability of international brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing estimate analysis of the nation data.  

Market Breakup By Region

North America

Europe

Asia Pacific

Latin America

Middle East and Africa

Competitive Landscape

The contract research organization (CROs) services marketplace competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development (R&D) and the new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above information points providing are only related to the businesses' focus related to contract research organization (CROs) services marketplace.

Major players operating in the CRO Services Market are:

Iqvia

Laboratory Corporation of America Holdings  

Novotech

Medpace Holdings, Inc.

Icon plc

KCR SA  

PSI

Parexel International Corporation  

Syneos Health  

WuXi Biologics  

Worldwide Clinical Trials 

Ergomed plc  

dMed Global 

Hangzhou Tigermed Consulting Co., Ltd

Global CRO Services Market Research Report, 2020-2031

Table of Contents

  1. 1. Introduction
    1. Report description
    2. Key market segments
    3. Regional Scope
    4. Executive Summary
  2. 2. Research Methodology
    1. Secondary Research
    2. Primary Research
    3. Secondary Analyst Tools and Models
  3. 3. Market Dynamics
    1. Market driver analysis
    2. Market restraint analysis
    3. Market Opportunity    
    4. Market Challenges
    5. Impact analysis of COVID-19 on the CRO Services market
  4. 4. Market Variables and Outlook
    1. SWOT Analysis
      1. Strengths
      2. Weaknesses
      3. Opportunities
      4. Threats
    2. Supply Chain Analysis
    3. PESTEL Analysis
      1. Political Landscape
      2.  Economic Landscape
      3. Social Landscape
      4. Technological Landscape
      5. Environmental Landscape
      6. Legal Landscape
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitute
      4. Threat of New Entrant
      5. Competitive Rivalry
  5. 5. CRO Services Market: Service Type Estimates & Trend Analysis
    1. CRO Services   Market value share and forecast, (2020 to 2031)
    2. Incremental Growth Analysis and Infographic Presentation
      1. Early Phase Development Services
        1. Market Size & Forecast, 2020-2031
      2. Clinical
        1. Market Size & Forecast, 2020-2031
      3. Laboratory Service
        1. Market Size & Forecast, 2020-2031
      4. Others
        1. Market Size & Forecast, 2020-2031
  6. 6. CRO Services Market: End User Estimates & Trend Analysis
    1. CRO Services   Market value share and forecast, (2020 to 2031)
    2. Incremental Growth Analysis and Infographic Presentation
      1. Pharmaceutical and Biotech Companies
        1. Market Size & Forecast, 2020-2031
      2. Medical Device Companies
        1. Market Size & Forecast, 2020-2031
      3. Academic and Research Institutes
        1. Market Size & Forecast, 2020-2031
      4. Others
        1. Market Size & Forecast, 2020-2031
  7. 7. CRO Services Market: Application Estimates & Trend Analysis
    1. CRO Services   Market value share and forecast, (2020 to 2031)
    2. Incremental Growth Analysis and Infographic Presentation
      1. Oncology
        1. Market Size & Forecast, 2020-2031
      2. CNS Disorder
        1. Market Size & Forecast, 2020-2031
      3. Cardiology
        1. Market Size & Forecast, 2020-2031
      4. Infectious Disease Metabolic Disorder
        1. Market Size & Forecast, 2020-2031
      5. Renal/Nephroology
        1. Market Size & Forecast, 2020-2031
      6. Others
        1. Market Size & Forecast, 2020-2031
  8. 8. CRO Services Market: Regional Estimates & Trend Analysis
    1. CRO Services   Market value share and forecast, (2020 to 2031)
    2. Incremental Growth Analysis and Infographic Presentation
    3. North America
        1. Market Size & Forecast, 2020-2031
    4. Europe
        1. Market Size & Forecast, 2020-2031
    5. Asia Pacific
        1. Market Size & Forecast, 2020-2031
    6. Middle East & Africa
        1. Market Size & Forecast, 2020-2031
    7. Latin America
        1. Market Size & Forecast, 2020-2031
  9. 9. CRO Services   Market: Country Estimates & Trend Analysis
    1. CRO Services   Market value share and forecast, (2020 to 2031)
    2. Incremental Growth Analysis and Infographic Presentation
    3. U.S.
        1. Market Size & Forecast, 2020-2031
    4. Canada
        1. Market Size & Forecast, 2020-2031
    5. Mexico
        1. Market Size & Forecast, 2020-2031
    6. UK
        1. Market Size & Forecast, 2020-2031
    7. France
        1. Market Size & Forecast, 2020-2031
    8. Germany
        1. Market Size & Forecast, 2020-2031
    9. Russia
        1. Market Size & Forecast, 2020-2031
    10. Italy
        1. Market Size & Forecast, 2020-2031
    11. Spain
        1. Market Size & Forecast, 2020-2031
    12. China
        1. Market Size & Forecast, 2020-2031
    13. India
        1. Market Size & Forecast, 2020-2031
    14. Japan
        1. Market Size & Forecast, 2020-2031
    15. Indonesia
        1. Market Size & Forecast, 2020-2031
    16. South Korea
        1. Market Size & Forecast, 2020-2031
    17. Australia
        1. Market Size & Forecast, 2020-2031
    18. Brazil
        1. Market Size & Forecast, 2020-2031
    19. Argentina
        1. Market Size & Forecast, 2020-2031
    20. Saudi Arabia
        1. Market Size & Forecast, 2020-2031
    21. UAE
        1. Market Size & Forecast, 2020-2031
    22. South Africa
        1. Market Size & Forecast, 2020-2031
  10. 10. Competitive Landscape
    1. Company Market Share Analysis
    2. Vendor Landscape
    3. Competition Dashboard
  11. 11. Company Profiles
    1. Business Overview, Product Landscape, Financial Performanceand Company Strategies for below companies
      1.    Iqvia
        1. Company Overview
        2. Financial Performance
        3. Product Benchmarking
        4. Geographic Footprint
        5. Strategic Initiatives
      2. Laboratory Corporation of America Holdings
        1. Company Overview
        2. Financial Performance
        3. Product Benchmarking
        4. Geographic Footprint
        5. Strategic Initiatives
      3. Novotech
        1. Company Overview
        2. Financial Performance
        3. Product Benchmarking
        4. Geographic Footprint
        5. Strategic Initiatives
      4. Medpace Holdings, Inc.
        1. Company Overview
        2. Financial Performance
        3. Product Benchmarking
        4. Geographic Footprint
        5. Strategic Initiatives
      5. Icon plc
        1. Company Overview
        2. Financial Performance
        3. Product Benchmarking
        4. Geographic Footprint
        5. Strategic Initiatives
      6. KCR SA
        1. Company Overview
        2. Financial Performance
        3. Product Benchmarking
        4. Geographic Footprint
        5. Strategic Initiatives
      7. PSI
        1. Company Overview
        2. Financial Performance
        3. Product Benchmarking
        4. Geographic Footprint
        5. Strategic Initiatives
      8. Parexel International Corporation
        1. Company Overview
        2. Financial Performance
        3. Product Benchmarking
        4. Geographic Footprint
        5. Strategic Initiatives
      9. Syneos Health
        1. Company Overview
        2. Financial Performance
        3. Product Benchmarking
        4. Geographic Footprint
        5. Strategic Initiatives
      10. WuXi Biologics
        1. Company Overview
        2. Financial Performance
        3. Product Benchmarking
        4. Geographic Footprint
        5. Strategic Initiatives
      11. Worldwide Clinical Trials
        1. Company Overview
        2. Financial Performance
        3. Product Benchmarking
        4. Geographic Footprint
        5. Strategic Initiatives
      12. Ergomed plc
        1. Company Overview
        2. Financial Performance
        3. Product Benchmarking
        4. Geographic Footprint
        5. Strategic Initiatives
      13. dMed Global
        1. Company Overview
        2. Financial Performance
        3. Product Benchmarking
        4. Geographic Footprint
        5. Strategic Initiatives
      14. Hangzhou Tigermed Consulting Co., Ltd
        1. Company Overview
        2. Financial Performance
        3. Product Benchmarking
        4. Geographic Footprint
        5. Strategic Initiatives
  12. 12. Conclusion

Global CRO Services Market Research Report, 2020-2031

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