The global contract research organization (CRO) services market is expected to grow at a CAGR of 11.4% from 2020 to reach USD 88.5 billion by 2027. The growth is primarily attributed to increasing investment in pharmaceutical R&D, increasing number of clinical trials and rising incidence of orphan and rare diseases. However, retaining highly skilled professionals pose a significant challenge.
By Type: Clinical research services segment dominated the CRO services market in 2020
Clinical research services segment accounted for the largest share of CRO services market. The largest share of this segment is mainly due to rapidly increasing geriatric population, prevalence of chronic diseases and growing demand for newer drugs.
By Therapeutic area: Oncology segment held largest share in the CRO services market in 2020
On the basis of therapeutic area, CRO services market is segmented into oncology, infectious diseases, neurology, cardiovascular system (CVS) disorders, metabolic disorders/endocrinology, immunological disorders, respiratory disorders, psychiatry, dermatology, haematology, ophthalmology, gastrointestinal diseases, genitourinary & women’s health and other therapeutic areas. Oncology segment held largest share in the forecast period. The largest share of this segment is mainly attributed to high incidence of cancer and pipeline of drugs in late-stage development.
By Molecule type, Cell and gene therapy segment to register highest CAGR
CRO services market is segmented into vaccines, cell & gene therapy and other molecules on the basis of molecule type. Cell & gene therapy is projected to reflect fastest growth during the forecast period mainly due to rising R&D expenditure in regenerative medicine and promising therapies in pipeline.
By End User: CRO services market held largest market share in pharmaceutical & biopharmaceutical companies in end user segment
Based on the end user segregation, pharmaceutical & biopharmaceutical companies accounted for largest market share in 2020. The growth of this market can be mainly attributed to increasing outsourcing of early-phase development services and clinical & laboratory testing services by pharmaceutical companies.
By Region: North America to lead the regional market
In 2020, North America accounted for the largest share of CRO services market and is expected to follow the same trend in the forecast period. The largest share of this regional segment is mainly due to presence of leading pharmaceutical & biopharmaceutical companies and high investments in the biologics segment. The second dominant regional market for CRO services is expected to be Europe.
Competitive Scenario
- IQVIA (US)
- LabCorp (US)
- Charles River Laboratories (US)
- WuXi AppTec (China)
- Syneos Health (US)
- Parexel International (US)
- PPD (US)
- ICON Plc (US)
- Medpace Holdings (US)
- SGS (Switzerland)
- PSI CRO AG (US)
- Axcent Advanced Analytics (US)
- BIO Agile Therapeutics (US)
- Firma Clinical Research (US)
- Acculab Life Sciences (US)
- Azelix (US)
- CTserv (US)
- Pepgra (UK)
- and Dove Quality Solutions (US)
- Novotech Health Holding (Australia)
- Geneticist Inc. (US)
- Linical Americas (US)
- Frontage Holding Corporation (US)
- and Celerion (US).
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Challenges
4.3. COVID-19 Impact of the CRO Services Market
5. Industry Insights
5.1. Introduction
5.2. Industry Trends
6. Global CRO Services Market, By Type, 2019-2027 (USD Million)
6.1. Introduction
6.2. Early phase development services
6.3. Clinical research services
6.4. Laboratory services
6.5. Consulting services
6.6. Data management services
7. Global CRO Services Market, By Therapeutic area, 2019-2027 (USD Million)
7.1. Oncology
7.2. Infectious diseases
7.3. Neurology
7.4. CVS
7.5. Metabolic disorders/endocrinology
7.6. Immunological disorders
7.7. Respiratory disorders
7.8. Psychiatry
7.9. Dermatology
7.10. Haematology
7.11. Ophthalmology
7.12. Gastrointestinal
7.13. Genitourinary & women’s health
7.14. Other therapeutic areas
8. Global CRO Services Market, By Molecule Type, 2019-2027 (USD Million)
8.1. Vaccines
8.2. Cell & gene therapy diseases
8.3. Other molecule types
9. Global CRO Services Market, By End User, 2019-2027 (USD Million)
9.1. Pharmaceutical & biotechnology companies
9.2. Medical device companies
9.3. Academic institutes
10. Global CRO Services Market, By Geography, 2019-2027 (USD Million)
10.1. North America
10.1.1. US
10.1.2. Canada
10.2. Europe
10.2.1. Germany
10.2.2. UK
10.2.3. France
10.2.4. Italy
10.2.5. Spain
10.2.6. Rest of Europe
10.3. Asia-Pacific
10.3.1. China
10.3.2. Japan
10.3.3. India
10.3.4. Rest of Asia-Pacific
10.4. Rest of the World
10.4.1. Latin America
10.4.2. Middle East & Africa
11. Competitive Landscape
11.1. Introduction
11.2. Market Share Analysis
11.3. Competitive Situation and Trends
11.3.1. Product Launches
11.3.2. Partnerships, Collaborations and Agreements
11.3.3. Acquisitions
11.3.4. Expansions
11.3.5. Other Developments
12. Company Profiles
12.1. IQVIA (US)
12.2. LabCorp (US)
12.3. Charles River Laboratories (US)
12.4. WuXi AppTec (China)
12.5. Syneos Health (US)
12.6. Parexel International (US)
12.7. PPD (US)
12.8. ICON Plc (US)
12.9. Medpace Holdings (US)
12.10. SGS (Switzerland)
12.11. PSI CRO AG (US)
12.12. Axcent Advanced Analytics (US)
12.13. BIO Agile Therapeutics (US)
12.14. Firma Clinical Research (US)
12.15. Acculab Life Sciences (US)
12.16. Azelix (US)
12.17. CTserv (US)
12.18. Pepgra (UK)
12.19. Dove Quality Solutions (US)
12.20. Novotech Health Holding (Australia)
12.21. Geneticist Inc. (US), Linical Americas (US)
12.22. Frontage Holding Corporation (US)
12.23. Celerion (US).
13. Appendix
13.1. Discussion Guide
13.2. Available Customizations
13.3. Related Reports
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
