Contract research organization (CRO) market size to grow by USD 52.46 billion from 2022 to 2027, The growth of the biopharmaceutical industry to be a major market driver

NEW YORK, June 19, 2023 /PRNewswire/ — The contract research organization (CRO) market size is set to grow by USD 52.46 billion from 2022 to 2027 at a CAGR of 11.75% during the forecast period. The market is driven by the growth of the biopharmaceutical industry. The biopharmaceutical industry is expanding in developing countries such as India and China. The demand for various biologics and pharmaceuticals is growing at a steady rate globally. Hence, partnerships between developing and developed countries are increasing. This will increase the development and production of biologics. Such factors will, in turn, fuel market growth during the forecast period. Discover some insights on market size historic period (2017 to 2021) and Forecast 2023-2027 before buying the full report -Request a sample report

Contract research organization (CRO) market – Vendor Analysis
Vendor Landscape – The global contract research organization (CRO) market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer contract research organization (CRO) in the market are BioAgile Therapeutics Pvt. Ltd, Charles River Laboratories International Inc., Clinical Trial Service B.V., CTI Clinical Trial and Consulting Inc., Ergomed Plc, Eurofins Scientific SE, Geneticist Inc., Hangzhou Tigermed Consulting Co. Ltd., ICON plc, IQVIA Holdings Inc., Laboratory Corp. of America Holdings, Linical Co. Ltd., Medpace Holdings Inc., Novotech Health Holdings, Parexel International Corp., Pharmaron Beijing Co. Ltd., PSI CRO AG, Syneos Health Inc., Thermo Fisher Scientific Inc., and WuXi AppTec Co. Ltd. and others.

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Vendor Offerings –

• BioAgile Therapeutics Pvt. Ltd – The company offers CRO services such as full-service clinical research, site management, and regulatory affairs services for biopharmaceutical and medical device companies.
• Charles River Laboratories International Inc. – The company offers preclinical CRO services to provide a full range of in-vivo and in-vitro testing evaluations and regulatory support for the safety assessment of pharmaceuticals, medical devices, and animal health products as well as chemicals, agrochemicals, and biocides.
• CTI Clinical Trial and Consulting Inc. – The company offers CRO services such as clinical trial management, clinical monitoring, and patient recruitment for pharmaceutical, biotechnology, and medical device companies.
• For details on the vendor and their offerings – Request a sample report

Contract Research Organization (CRO) Market – Segmentation Assessment

Segment Overview
This contract research organization market report extensively covers market segmentation by application (clinical research, early phase development, laboratory, and regulatory consulting), and end-user (pharmaceutical and biopharmaceutical companies, medical device companies, and academic institutes).

• The market share growth by the clinical research segment will be significant for the market growth during the forecast period. In research organizations, tests are performed on clinical specimens to monitor patients’ health, including the diagnosis, treatment, and prevention of various neurological disorders. Research centers perform a wide range of tissue-based clinical research, which is sponsored by key players or government entities. This, in turn, helps them enhance R&D activities. Moreover, CROs have been undergoing various developments to support clinical research. Such developments, in turn, drive the growth of the segment during the forecast period.

Geography Overview
By geography, the global contract research organization (CRO) market is segmented into North America, Europe, Asia, and Rest of World (ROW). The report provides actionable insights and estimates the contribution of all regions to the growth of the global contract research organization (CRO) market.

• North America is estimated to account for 41% of the growth of the global market during the forecast period. This region remains the most preferred region for pharmaceutical vendors globally to outsource the R&D of the drugs in late-stage clinical trials. Furthermore, the advanced healthcare infrastructure in the region enables the early diagnosis of various indications, which results in the identification of the patient population. This is expected to help in the treatment of diseases at their early stages. Hence, such factors drive the regional market growth during the forecast period.

For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 – Download a Sample Report

Contract Research Organization (CRO) Market – Market Dynamics

Key Trends – 

The growing demand for CROs is a trend in the market. Many pharmaceutical product manufacturers and drug discovery companies outsource their clinical trial process to focus on R&D and optimize their operating costs. In developed countries, high operating costs prevent companies from investing in research facilities. Hence, to optimize operating costs, subcontract laboratories such as CROs carry out research and testing to drive innovation. These factors will drive the growth of the CRO market during the forecast period.

Major Challenges –

Intellectual property issues are challenging market growth. A contract research organization (CRO) is a company that provides support to pharmaceutical, biotechnology, and medical device industries in the form of research services outsourced on a contract basis. Patent issues and provisions for pre- and post-grant disagreement are complex. Hence, it is important for CROs to focus on clinical trial agreements, as the government scrutinizes clinical trial issues. Such concerns harm the reputation of CROs, which may hinder the growth of the contract research organization market during the forecast period.

Drivers, Trends and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this contract research organization (CRO) market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the contract research organization (CRO) market between 2023 and 2027
• Precise estimation of the size of the contract research organization (CRO) market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the contract research organization (CRO) market across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of contract research organization (CRO) market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global contract research organization (CRO) market 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on global contract research organization (cro) market 2017 – 2021 ($ billion)

• 4.2 Application Segment Analysis 2017 – 2021
• Exhibit 19: Historic Market Size – Application Segment 2017 – 2021 ($ billion)

• 4.3 End-user Segment Analysis 2017 – 2021
• Exhibit 20: Historic Market Size – End-user Segment 2017 – 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 – 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 – 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application – Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Clinical research – Market size and forecast 2022-2027 
• Exhibit 34: Chart on Clinical research – Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Clinical research – Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Clinical research – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Clinical research – Year-over-year growth 2022-2027 (%)

• 6.4 Early phase development – Market size and forecast 2022-2027 
• Exhibit 38: Chart on Early phase development – Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Early phase development – Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Early phase development – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Early phase development – Year-over-year growth 2022-2027 (%)

• 6.5 Laboratory – Market size and forecast 2022-2027
• Exhibit 42: Chart on Laboratory – Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Laboratory – Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Laboratory – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Laboratory – Year-over-year growth 2022-2027 (%)

• 6.6 Regulatory consulting – Market size and forecast 2022-2027 
• Exhibit 46: Chart on Regulatory consulting – Market size and forecast 2022-2027 ($ billion)
• Exhibit 47: Data Table on Regulatory consulting – Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Chart on Regulatory consulting – Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Regulatory consulting – Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Application 
• Exhibit 50: Market opportunity by Application ($ billion)
• Exhibit 51: Data Table on Market opportunity by Application ($ billion)

7 Market Segmentation by End-user

• 7.1 Market segments 
• Exhibit 52: Chart on End-user – Market share 2022-2027 (%)
• Exhibit 53: Data Table on End-user – Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 54: Chart on Comparison by End-user
• Exhibit 55: Data Table on Comparison by End-user

• 7.3 Pharmaceutical and biopharmaceutical companies – Market size and forecast 2022-2027 
• Exhibit 56: Chart on Pharmaceutical and biopharmaceutical companies – Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Data Table on Pharmaceutical and biopharmaceutical companies – Market size and forecast 2022-2027 ($ billion)
• Exhibit 58: Chart on Pharmaceutical and biopharmaceutical companies – Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Pharmaceutical and biopharmaceutical companies – Year-over-year growth 2022-2027 (%)

• 7.4 Medical device companies – Market size and forecast 2022-2027 
• Exhibit 60: Chart on Medical device companies – Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Data Table on Medical device companies – Market size and forecast 2022-2027 ($ billion)
• Exhibit 62: Chart on Medical device companies – Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Medical device companies – Year-over-year growth 2022-2027 (%)

• 7.5 Academic institutes – Market size and forecast 2022-2027 
• Exhibit 64: Chart on Academic institutes – Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Data Table on Academic institutes – Market size and forecast 2022-2027 ($ billion)
• Exhibit 66: Chart on Academic institutes – Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Academic institutes – Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by End-user 
• Exhibit 68: Market opportunity by End-user ($ billion)
• Exhibit 69: Data Table on Market opportunity by End-user ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 North America – Market size and forecast 2022-2027
• Exhibit 75: Chart on North America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Data Table on North America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027
• Exhibit 79: Chart on Europe – Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on Europe – Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 Asia – Market size and forecast 2022-2027 
• Exhibit 83: Chart on Asia – Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on Asia – Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on Asia – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Asia – Year-over-year growth 2022-2027 (%)

• 9.6 Rest of World (ROW) – Market size and forecast 2022-2027 
• Exhibit 87: Chart on Rest of World (ROW) – Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on Rest of World (ROW) – Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on Rest of World (ROW) – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Rest of World (ROW) – Year-over-year growth 2022-2027 (%)

• 9.7 US – Market size and forecast 2022-2027
• Exhibit 91: Chart on US – Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on US – Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.8 China – Market size and forecast 2022-2027
• Exhibit 95: Chart on China – Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on China – Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.9 Germany – Market size and forecast 2022-2027
• Exhibit 99: Chart on Germany – Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on Germany – Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.10 Canada – Market size and forecast 2022-2027
• Exhibit 103: Chart on Canada – Market size and forecast 2022-2027 ($ billion)
• Exhibit 104: Data Table on Canada – Market size and forecast 2022-2027 ($ billion)
• Exhibit 105: Chart on Canada – Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Canada – Year-over-year growth 2022-2027 (%)

• 9.11 UK – Market size and forecast 2022-2027
• Exhibit 107: Chart on UK – Market size and forecast 2022-2027 ($ billion)
• Exhibit 108: Data Table on UK – Market size and forecast 2022-2027 ($ billion)
• Exhibit 109: Chart on UK – Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on UK – Year-over-year growth 2022-2027 (%)

• 9.12 Market opportunity by geography 
• Exhibit 111: Market opportunity by geography ($ billion)
• Exhibit 112: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.3 Impact of drivers and challenges 
• Exhibit 113: Impact of drivers and challenges in 2022 and 2027

11 Vendor Landscape

• 11.2 Vendor landscape 
• Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 115: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 116: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 117: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 118: Matrix on vendor position and classification

• 12.3 BioAgile Therapeutics Pvt. Ltd 
• Exhibit 119: BioAgile Therapeutics Pvt. Ltd – Overview
• Exhibit 120: BioAgile Therapeutics Pvt. Ltd – Product / Service
• Exhibit 121: BioAgile Therapeutics Pvt. Ltd – Key offerings

• 12.4 Charles River Laboratories International Inc.
• Exhibit 122: Charles River Laboratories International Inc. – Overview
• Exhibit 123: Charles River Laboratories International Inc. – Business segments
• Exhibit 124: Charles River Laboratories International Inc. – Key news
• Exhibit 125: Charles River Laboratories International Inc. – Key offerings
• Exhibit 126: Charles River Laboratories International Inc. – Segment focus

• 12.5 CTI Clinical Trial and Consulting Inc.
• Exhibit 127: CTI Clinical Trial and Consulting Inc. – Overview
• Exhibit 128: CTI Clinical Trial and Consulting Inc. – Product / Service
• Exhibit 129: CTI Clinical Trial and Consulting Inc. – Key offerings

• 12.6 Ergomed Plc 
• Exhibit 130: Ergomed Plc – Overview
• Exhibit 131: Ergomed Plc – Business segments
• Exhibit 132: Ergomed Plc – Key news
• Exhibit 133: Ergomed Plc – Key offerings
• Exhibit 134: Ergomed Plc – Segment focus

• 12.7 Eurofins Scientific SE 
• Exhibit 135: Eurofins Scientific SE – Overview
• Exhibit 136: Eurofins Scientific SE – Business segments
• Exhibit 137: Eurofins Scientific SE – Key news
• Exhibit 138: Eurofins Scientific SE – Key offerings
• Exhibit 139: Eurofins Scientific SE – Segment focus

• 12.8 ICON plc 
• Exhibit 140: ICON plc – Overview
• Exhibit 141: ICON plc – Product / Service
• Exhibit 142: ICON plc – Key offerings

• 12.9 IQVIA Holdings Inc. 
• Exhibit 143: IQVIA Holdings Inc. – Overview
• Exhibit 144: IQVIA Holdings Inc. – Business segments
• Exhibit 145: IQVIA Holdings Inc. – Key news
• Exhibit 146: IQVIA Holdings Inc. – Key offerings
• Exhibit 147: IQVIA Holdings Inc. – Segment focus

• 12.10 Laboratory Corp. of America Holdings
• Exhibit 148: Laboratory Corp. of America Holdings – Overview
• Exhibit 149: Laboratory Corp. of America Holdings – Business segments
• Exhibit 150: Laboratory Corp. of America Holdings – Key news
• Exhibit 151: Laboratory Corp. of America Holdings – Key offerings
• Exhibit 152: Laboratory Corp. of America Holdings – Segment focus

• 12.11 Medpace Holdings Inc. 
• Exhibit 153: Medpace Holdings Inc. – Overview
• Exhibit 154: Medpace Holdings Inc. – Product / Service
• Exhibit 155: Medpace Holdings Inc. – Key offerings

• 12.12 Novotech Health Holdings 
• Exhibit 156: Novotech Health Holdings – Overview
• Exhibit 157: Novotech Health Holdings – Product / Service
• Exhibit 158: Novotech Health Holdings – Key offerings

• 12.13 Parexel International Corp. 
• Exhibit 159: Parexel International Corp. – Overview
• Exhibit 160: Parexel International Corp. – Product / Service
• Exhibit 161: Parexel International Corp. – Key news
• Exhibit 162: Parexel International Corp. – Key offerings

• 12.14 PSI CRO AG 
• Exhibit 163: PSI CRO AG – Overview
• Exhibit 164: PSI CRO AG – Product / Service
• Exhibit 165: PSI CRO AG – Key offerings

• 12.15 Syneos Health Inc. 
• Exhibit 166: Syneos Health Inc. – Overview
• Exhibit 167: Syneos Health Inc. – Business segments
• Exhibit 168: Syneos Health Inc. – Key offerings
• Exhibit 169: Syneos Health Inc. – Segment focus

• 12.16 Thermo Fisher Scientific Inc. 
• Exhibit 170: Thermo Fisher Scientific Inc. – Overview
• Exhibit 171: Thermo Fisher Scientific Inc. – Business segments
• Exhibit 172: Thermo Fisher Scientific Inc. – Key news
• Exhibit 173: Thermo Fisher Scientific Inc. – Key offerings
• Exhibit 174: Thermo Fisher Scientific Inc. – Segment focus

• 12.17 WuXi AppTec Co. Ltd. 
• Exhibit 175: WuXi AppTec Co. Ltd. – Overview
• Exhibit 176: WuXi AppTec Co. Ltd. – Business segments
• Exhibit 177: WuXi AppTec Co. Ltd. – Key offerings
• Exhibit 178: WuXi AppTec Co. Ltd. – Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 179: Inclusions checklist
• Exhibit 180: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 181: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 182: Research methodology
• Exhibit 183: Validation techniques employed for market sizing
• Exhibit 184: Information sources

• 13.5 List of abbreviations 
• Exhibit 185: List of abbreviations

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