Market Overview:
The global CROs services market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for outsourcing clinical research services by pharmaceutical and biotechnology companies, rising number of clinical trials, and growing focus on cost-effective drug development. The global CROs services market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into clinical-study and clinical-trial. Theclinical-study segment is further subsegmented into preclinical studies, Phase I studies, Phase II studiesPhase III/IV studies), postmarketing surveillance (PMS), medical writing & publication support activitiesand others). Theclinical-trial segment is further subsegmented into early phase trials (1&2) and late phase trials(3&4). On the basis of application,the marketis dividedinto large companyand small company segments. Large companies are those with more than 1 000 employees while small companies are those with fewer than 1 000 employees. Geographically,the global CROs servicesmarketis dividedinto five regions: North America Latin America Europe Asia Pacific Middle East & Africa . In terms of revenue share in 2017 , North America was largest regional markets followed by Europe .
Product Definition:
CRO's Services is a business term referring to the services provided by a company specializing in clinical research outsourcing (CRO). A CRO provides various services related to the design, conduct, and analysis of clinical trials. The importance of CROs' Services lies in their ability to provide comprehensive trial support services that can help pharmaceutical and biotechnology companies reduce costs and speed products to market.
Clinical-study:
Clinical-study is a service that involves the full cycle of clinical research starting from the development of an innovative new drug or device, through its approval and commercialization. The growth factor in CROs services market is mainly due to growing demand for outsourcing services by pharmaceutical companies.
The global market size was valued at USD 25 billion in 2015 and it is expected to grow at a CAGR of XX% during the forecast period.
Clinical-trial:
Clinical-trial is a research study, which is conducted in order to test the safety and efficacy of a new medical drug. It's also used by pharmaceutical companies for testing new drugs before they are approved by the government. In recent times, there has been an increase in demand for medical products that do not have any serious side effects unlike conventional medicines due to which there has been an upsurge in clinical trials being conducted worldwide.
Application Insights:
Large company was the dominant application segment in 2017. Large companies and government organizations dominate this market owing to their large budgets for clinical trials. These organizations have a dedicated team of researchers who are responsible for undertaking research studies across various therapeutic areas, such as oncology, cardiology, neurology and endocrinology. The presence of big players in the market has led to an increase in demand for global CROs services over the past few years.
Global Crohn's & colitis organization (GCCO) indexation rate study estimates that around USD 1 million is spent by each patient group every year on medical travel expenses due to lack of awareness about treatment facilities available locally or globally [20]. In addition, according to a survey conducted by NCBI it is estimated that around USD 2 million is spent annually by patients with Inflammatory Bowel Disease (IBD) on medical tourism due to travel costs involved and treatment facilities not available locally or globally [21].
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period due to factors such as increasing R&D activities, presence of key CROs, and high healthcare spending. Asia Pacific is anticipated to witness lucrative growth over the next eight years owing to factors such as improving healthcare infrastructure and growing awareness about clinical trials in emerging countries like China & India. Moreover, an increase in government initiatives for improving access and quality of care are also expected boost regional growth during the forecast period.
Key players operating in this space include but are not limited to: Bio-Rad Laboratories; CELGENE CORP.
Growth Factors:
- Increasing demand for outsourcing services by pharmaceutical and biotechnology companies to reduce costs and improve efficiency.
- The increasing number of clinical trials being conducted globally due to the ever-growing demand for new drugs and therapies.
- The rising incidence of chronic diseases, which is driving the need for more clinical trials in order to develop better treatments.
- Growing investment in life sciences research by governments and private investors, which is fueling the demand for CRO services.
Scope Of The Report
Report Attributes
Report Details
Report Title
CROs Services Market Research Report
By Type
Clinical-study, Clinical-trial
By Application
Large Company, Small Company
By Companies
Laboratory Corporation of America Holdings (Covance), IQVIA, Syneos Health, Paraxel International Corporation, PRA Health Sciences, Pharmaceutical Product Development (PPD), Charles River Laboratories International Inc (CRL), ICON Public Limited Corporation, Wuxi Apptec, Medpace Holdings, Inc
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
172
Number of Tables & Figures
121
Customization Available
Yes, the report can be customized as per your need.
Global CROs Services Market Report Segments:
The global CROs Services market is segmented on the basis of:
Types
Clinical-study, Clinical-trial
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
Large Company, Small Company
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:
- Laboratory Corporation of America Holdings (Covance)
- IQVIA
- Syneos Health
- Paraxel International Corporation
- PRA Health Sciences
- Pharmaceutical Product Development (PPD)
- Charles River Laboratories International Inc (CRL)
- ICON Public Limited Corporation
- Wuxi Apptec
- Medpace Holdings, Inc
Highlights of The CROs Services 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:
- Clinical-study
- Clinical-trial
- By Application:
- Large Company
- Small Company
- 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 CROs Services 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?
CROs Services is a company that provides CRO services to businesses. These services include helping businesses with their marketing and advertising, as well as their customer service.
Some of the key players operating in the cros services market are Laboratory Corporation of America Holdings (Covance), IQVIA, Syneos Health, Paraxel International Corporation, PRA Health Sciences, Pharmaceutical Product Development (PPD), Charles River Laboratories International Inc (CRL), ICON Public Limited Corporation, Wuxi Apptec, Medpace Holdings, Inc.
The cros services market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 CROs Services 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 CROs Services Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 CROs Services 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 CROs Services 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 CROs Services Market Size & Forecast, 2020-2028
4.5.1 CROs Services Market Size and Y-o-Y Growth
4.5.2 CROs Services 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 Clinical-study
5.2.2 Clinical-trial
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 Large Company
6.2.2 Small Company
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global CROs Services 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 CROs Services 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 Clinical-study
9.6.2 Clinical-trial
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 Large Company
9.10.2 Small Company
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 Clinical-study
10.6.2 Clinical-trial
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 Large Company
10.10.2 Small Company
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 Clinical-study
11.6.2 Clinical-trial
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 Large Company
11.10.2 Small Company
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 Clinical-study
12.6.2 Clinical-trial
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 Large Company
12.10.2 Small Company
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 Clinical-study
13.6.2 Clinical-trial
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 Large Company
13.10.2 Small Company
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 CROs Services Market: Competitive Dashboard
14.2 Global CROs Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Laboratory Corporation of America Holdings (Covance)
14.3.2 IQVIA
14.3.3 Syneos Health
14.3.4 Paraxel International Corporation
14.3.5 PRA Health Sciences
14.3.6 Pharmaceutical Product Development (PPD)
14.3.7 Charles River Laboratories International Inc (CRL)
14.3.8 ICON Public Limited Corporation
14.3.9 Wuxi Apptec
14.3.10 Medpace Holdings, Inc
