Report Feature
Contract Research Organization (CRO) Services Market Trends and Forecast
The future of the global contract research organization (CRO) services market looks promising with opportunities in the pharmaceutical & biopharmaceutical companies, medical device companies, and academic institute markets. The global contract research organization (CRO) services market is expected to reach an estimated $116.1 billion by 2028 with a CAGR of 10.1% from 2023 to 2028. The major drivers for this market are increasing need for research and development activity for drugs, rising number of clinical trial, and growing private and public funding to support research activities of pharmaceutical industries.
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Contract Research Organization (CRO) Services Market by Segment
The study includes a forecast for the global contract research organization (CRO) services market by service type, application, end use industry, and region, as follows:
Contract Research Organization (CRO) Services Market by Service Type [Value ($B) Shipment Analysis from 2017 to 2028]:
- Discovery
- Pre-clinical
- Clinical
- Laboratory Services
Contract Research Organization (CRO) Services Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
- Oncology
- Cardiology
- Infectious Disease
- Metabolic Disorders
- Others
Contract Research Organization (CRO) Services Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:
- Pharmaceutical & Biopharmaceutical Companies
- Medical Device Companies
- Academic Institutes
Contract Research Organization (CRO) Services Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Contract Research Organization (CRO) Services Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies contract research organization (CRO) services companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the contract research organization (CRO) services companies profiled in this report include.
- BIO Agile Therapeutics
- Novotech Health Holding
- Parexel
- Firma Clinical Research
- IQVIA
- ICON PLC
- Envigo
- Charles River
Contract Research Organization (CRO) Services Market Insights
- Lucintel forecasts that clinical services will remain the largest segment over the forecast period due to growing cases of chronic diseases, increasing size of the R&D pipeline of drugs and high clinical trial expenses for precise and speedy disease detection.
- Within this market, pharmaceutical & biopharmaceutical company segment is expected to remain the largest segment due to increasing pharmaceutical company strategic alliances with CRO to conduct clinical trials and favorable government programs to foster the growth of pharmaceutical firms.
- North America is expected to remain the largest region due to growing investment in the healthcare sector and increasing demand for CRO services to continuously research on effective medications to treat chronic diseases in the region.
Features of the Contract Research Organization (CRO) Services Market
- Market Size Estimates: Contract research organization (CRO) services market size estimation in terms of value ($B)
- Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
- Segmentation Analysis: Contract research organization (CRO) services market size by various segments, such as by service type, application, end use industry, and region
- Regional Analysis: Contract research organization (CRO) services market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth Opportunities: Analysis on growth opportunities in different by service type, application, end use industry, and regions for the contract research organization (CRO) services market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape for the contract research organization (CRO) services market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the contract research organization (CRO) services market size?
Answer: The global contract research organization (CRO) services market is expected to reach an estimated $116.1 billion by 2028.
Q2. What is the growth forecast for contract research organization (CRO) services market?
Answer: The global contract research organization (CRO) services market is expected to grow with a CAGR of 10.1% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the contract research organization (CRO) services market?
Answer: The major drivers for this market are increasing need for research and development activity for drugs, rising number of clinical trial, and growing private and public funding to support research activities of pharmaceutical industries.
Q4. What are the major segments for contract research organization (CRO) services market?
Answer: The future of the contract research organization (CRO) services market looks promising with opportunities in the pharmaceutical & biopharmaceutical companies, medical device companies, and academic institute markets.
Q5. Who are the key contract research organization (CRO) services companies?
Answer: Some of the key contract research organization (CRO) services companies are as follows:
Answer: The global contract research organization (CRO) services market is expected to reach an estimated $116.1 billion by 2028.
Q2. What is the growth forecast for contract research organization (CRO) services market?
Answer: The global contract research organization (CRO) services market is expected to grow with a CAGR of 10.1% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the contract research organization (CRO) services market?
Answer: The major drivers for this market are increasing need for research and development activity for drugs, rising number of clinical trial, and growing private and public funding to support research activities of pharmaceutical industries.
Q4. What are the major segments for contract research organization (CRO) services market?
Answer: The future of the contract research organization (CRO) services market looks promising with opportunities in the pharmaceutical & biopharmaceutical companies, medical device companies, and academic institute markets.
Q5. Who are the key contract research organization (CRO) services companies?
Answer: Some of the key contract research organization (CRO) services companies are as follows:
- BIO Agile Therapeutics
- Novotech Health Holding
- Parexel
- Firma Clinical Research
- IQVIA
- ICON PLC
- Envigo
- Charles River
Q6. Which contract research organization (CRO) services segment will be the largest in future?
Answer: Lucintel forecasts that clinical services will remain the largest segment over the forecast period due to growing size of the R&D pipeline of drugs and high clinical trial expenses and increased chances of chronic diseases which is influencing the requirement for precise and speedy disease detection.
Q7. In contract research organization (CRO) services market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to remain the largest region due to growing investment in the healthcare sector and increasing demand for CRO services to continuously research on effective medications to treat chronic diseases in the region.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
Answer: Lucintel forecasts that clinical services will remain the largest segment over the forecast period due to growing size of the R&D pipeline of drugs and high clinical trial expenses and increased chances of chronic diseases which is influencing the requirement for precise and speedy disease detection.
Q7. In contract research organization (CRO) services market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to remain the largest region due to growing investment in the healthcare sector and increasing demand for CRO services to continuously research on effective medications to treat chronic diseases in the region.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
