Market Overview:
The global contract research organization (CRO) market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The CRO market is segmented on the basis of type, application, and region. On the basis of type, the CRO market is segmented into biologic assay development, clinical/preclinical research, commercialization and clinical trial management. The biologic assay development segment is expected to grow at a CAGR of 11% from 2018 to 2030. This growth can be attributed to increasing demand for biologics in various applications such as medical devices and pharmaceuticals firms. On the basis of application, the CRO market is divided into medical device companies, pharmaceutical firms and others segments which include academic institutions & government organizations among others).
Product Definition:
A contract research organization (CRO) is a company that provides services to the pharmaceutical, biotechnology, and medical device industries to support the development of new drugs and medical treatments. CROs provide a wide range of services including pre-clinical research, clinical trials management, regulatory affairs consulting, data management and biostatistics.
The use of CROs has become increasingly common in recent years as companies have sought to reduce costs and speed up the drug development process. The advantages of using a CRO include: access to experienced staff; cost savings due to economies of scale; ability to conduct trials in multiple countries; expertise in regulatory compliance.
Biologic Assay Development:
The global contract research organization (CRO) market is expected to witness significant growth over the forecast period. The major drivers of this market are increasing R&D activities, rising demand for novel drugs and devices, and growing investments in biotechnology.
Clinical/Preclinical Research:
Clinical/Preclinical research is a part of R&D that involves human beings and animals in medical experiments. It's main objective is to determine the efficacy of new drug molecules, vaccines or other treatment options for diseases before they are administered to humans. Preclinical research on the other hand deals with tests carried out on animals before clinical trials can begin. CROs provide various services related to clinical/preclinical research such as toxicology testing, patient recruiting, device cleaning etc.
Application Insights:
The medical device segment dominated the global contract research organization market in 2017. This can be attributed to factors such as increasing demand for minimally invasive surgeries, technological advancements in imaging and information technology, and an increase in R&D investments by companies. For instance, according to the Pharmaceutical Research & Manufacturers of America (PhRMA), U.S.-based pharmaceutical companies have invested around USD 79 billion from 2013 to 2017 on research activities-a significant increase from previous years.
Moreover, a rise in investment is expected during the forecast period owing to factors such as growing government support for innovation through initiatives such as ¢â‚¬Å“Make In India¢â‚¬ which will boost domestic manufacturing thereby creating more opportunities for contract research organizations (CROs) providing services related to product development & commercialization within India.
Regional Analysis:
North America dominated the global contract research organization market in 2017. The presence of major players, increased funding for R&D, and high adoption rate of new technologies are some factors responsible for its large share. Moreover, the growing number of clinical trials is also expected to drive this regional market over the forecast period.
Asia Pacific is anticipated to witness lucrative growth during the forecast period owing to a rise in outsourcing activities by Asian firms coupled with an increase in investments by western companies especially in China and India. Furthermore, increasing government support for conducting clinical trials within Asia Pacific countries will boost this region’s growth further during the forecast years.
The European region accounted for a significant revenue share owing to its well-established biotechnology sector coupled with higher adoption rates of CROs from other regions as compared to local ones (outsourcing).
Growth Factors:
- Increasing demand for contract research services from the biopharmaceutical and medical device industries
- Rising number of clinical trials being conducted in emerging markets
- Proliferation of contract research organizations offering specialized services
- Growing demand for outsourcing of non-core activities by pharmaceutical and biotechnology companies
- Emergence of Contract Research Organizations as a key partner in drug development
Scope Of The Report
Report Attributes
Report Details
Report Title
Contract Research Organization Market Research Report
By Type
Biologic Assay Development, Clinical/Preclinical Research, Commercialization and Clinical Trial Management
By Application
The Medical Device, Pharmaceutical Firms, Others
By Companies
Pharmaceutical Product Development, Charles River Laboratories, Quintiles Transnational, Covance
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
197
Number of Tables & Figures
138
Customization Available
Yes, the report can be customized as per your need.
Global Contract Research Organization Market Report Segments:
The global Contract Research Organization market is segmented on the basis of:
Types
Biologic Assay Development, Clinical/Preclinical Research, Commercialization and Clinical Trial Management
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
The Medical Device, Pharmaceutical Firms, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Pharmaceutical Product Development
- Charles River Laboratories
- Quintiles Transnational
- Covance
Highlights of The Contract Research Organization Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Biologic Assay Development
- Clinical/Preclinical Research
- Commercialization and Clinical Trial Management
- By Application:
- The Medical Device
- Pharmaceutical Firms
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Contract Research Organization Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A Contract Research Organization (CRO) is a company that specializes in conducting research for clients. CROs typically contract with universities, businesses, or other organizations to conduct studies on their behalf. They may also provide consulting services related to research methodology.
Some of the key players operating in the contract research organization market are Pharmaceutical Product Development, Charles River Laboratories, Quintiles Transnational, Covance.
The contract research organization market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Contract Research Organization Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Contract Research Organization Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Contract Research Organization Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Contract Research Organization Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Contract Research Organization Market Size & Forecast, 2020-2028
4.5.1 Contract Research Organization Market Size and Y-o-Y Growth
4.5.2 Contract Research Organization Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Biologic Assay Development
5.2.2 Clinical/Preclinical Research
5.2.3 Commercialization and Clinical Trial Management
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 The Medical Device
6.2.2 Pharmaceutical Firms
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Contract Research Organization Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Contract Research Organization Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Biologic Assay Development
9.6.2 Clinical/Preclinical Research
9.6.3 Commercialization and Clinical Trial Management
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 The Medical Device
9.10.2 Pharmaceutical Firms
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Biologic Assay Development
10.6.2 Clinical/Preclinical Research
10.6.3 Commercialization and Clinical Trial Management
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 The Medical Device
10.10.2 Pharmaceutical Firms
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Biologic Assay Development
11.6.2 Clinical/Preclinical Research
11.6.3 Commercialization and Clinical Trial Management
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 The Medical Device
11.10.2 Pharmaceutical Firms
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Biologic Assay Development
12.6.2 Clinical/Preclinical Research
12.6.3 Commercialization and Clinical Trial Management
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 The Medical Device
12.10.2 Pharmaceutical Firms
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Biologic Assay Development
13.6.2 Clinical/Preclinical Research
13.6.3 Commercialization and Clinical Trial Management
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 The Medical Device
13.10.2 Pharmaceutical Firms
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Contract Research Organization Market: Competitive Dashboard
14.2 Global Contract Research Organization Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Pharmaceutical Product Development
14.3.2 Charles River Laboratories
14.3.3 Quintiles Transnational
14.3.4 Covance
