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Global Contract Research Organisation (CRO) Services Market: By Service Type: Early Phase Development, Clinical Research Services, Laboratory Services, Consulting Services, Data Management Services, Others; By Therapeutic Area: Oncology, Clinical Pharmacology, Others; By End Use; Regional Analysis; Competitive Landscape; 2024-2032
Global Contract Research Organisation (CRO) Services Market Outlook
The global contract research organisation (CRO) services market reached a value of about USD 51.46 billion in 2023. The market is further expected to grow at a CAGR of 7% in the forecast period of 2024-2032 to reach a value of approximately USD 94.55 billion by 2032.
Ongoing R&D Activities are Driving the Contract Research Organisation (CRO) Services Market
With the advancing healthcare industry, there has been a significant growth in terms of research, medications, and drug delivery, which is driving the demand for contract research organisation (CRO) services. CROs are increasingly gaining prominence owing to a rise in the number of drug development projects across the nations.
The global contract research organisation (CRO) services industry is dominated by the North America region. Within the region, the ongoing research and development activities and clinical trials are providing a boost to the industry. The demand is expected to grow in the Asia Pacific region over the forecast period due to rapid urbanisation, growing investments in R&D, and favourable government initiatives.
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Contract Research Organisation (CRO) Services: Market Segmentation
Contract research organisation (CRO), also known as clinical research organisation, is a term used to refer to a company engaged in providing research-related assistance to the pharmaceutical, biotechnology, and medical device industries on a contract basis. Contract research organisation services are key to the pharma, biotech, and MedTech sectors. These services support the efforts of clients to research, test, modify, and market the latest medical devices and pharmaceuticals.
Based on service type, the market is divided into:
- Early Phase Development
- Discovery Services
- Chemistry
- Preclinical Services
- Clinical Research Services
- Phase I
- Phase II
- Phase III
- Phase IV
- Laboratory Services
- Bioanalytical Services
- Analytical Services
- Others
- Consulting Services
- Data Management Services
- Others
Based on the therapeutic area, the industry can be segmented into:
- Oncology
- Clinical Pharmacology
- Cardiovascular
- Infectious Disease
- Neurology
- Gastroenterology and Hepatology
- Respiratory
- Others
By end use, the industry is divided into:
- Pharmaceutical and Biopharmaceutical Companies
- Medical Device Companies
- Academic Institutes
- Others
The regional markets for the service include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Rising Technological Advancements Expected to Bolster the Contract Research Organisation (CRO) Services Market
The expiration of patents, the introduction of generic drugs, and technological advancements, such as mHealth and big data, have an effect on drug creation, leading to greater outsourcing of research to CROs. These factors are primarily driving the industry growth. The high competition in the market is resulting in increased mergers and acquisitions, which are expected to enhance full-service capabilities and global reach of larger companies.
The growth is expected to be higher in the developing regions owing to growing investment in the research and development activities and favourable regulatory policies. While large companies serve as premium CRO providers for many pharma and biotech companies globally, the small and mid-sized CROs are focusing on a more personalised approach and seeking to expand in niche sectors.
The rapid technological advancements and expansion of key players into lower-cost emerging markets are the major trends in the global contract research organisation (CRO) services industry. This is expected to have a positive effect on the industry growth over the forecast period.
Key Industry Players in the Global Contract Research Organisation (CRO) Services Market
The report gives a detailed analysis of the following key players in the global contract research organisation (CRO) services industry, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Charles River Laboratories International, Inc.
- Clinipace
- Clintec International Ltd.
- CMIC Holdings Co., Ltd
- EPS International
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Service Type |
|
| Breakup by Therapeutic Area |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Contract Research Organisation (CRO) Services Market Analysis
8.1 Key Industry Highlights
8.2 Global Contract Research Organisation (CRO) Services Historical Market (2018-2023)
8.3 Global Contract Research Organisation (CRO) Services Market Forecast (2024-2032)
8.4 Global Contract Research Organisation (CRO) Services Market by Service Type
8.4.1 Early Phase Development
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.1.3 Market by Type
8.4.1.3.1 Discovery Services
8.4.1.3.2 Chemistry
8.4.1.3.3 Preclinical Services
8.4.2 Clinical Research Services
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.2.3 Market by Type
8.4.2.3.1 Phase I
8.4.2.3.2 Phase II
8.4.2.3.3 Phase III
8.4.2.3.4 Phase IV
8.4.3 Laboratory Services
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.3.3 Market by Type
8.4.3.3.1 Bioanalytical Services
8.4.3.3.2 Analytical Services
8.4.3.3.3 Others
8.4.4 Consulting Services
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Data Management Services
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Others
8.5 Global Contract Research Organisation (CRO) Services Market by Therapeutic Area
8.5.1 Oncology
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Clinical Pharmacology
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Cardiovascular
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Infectious Disease
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Neurology
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Gastroenterology and Hepatology
8.5.6.1 Historical Trend (2018-2023)
8.5.6.2 Forecast Trend (2024-2032)
8.5.7 Respiratory
8.5.7.1 Historical Trend (2018-2023)
8.5.7.2 Forecast Trend (2024-2032)
8.5.8 Others
8.6 Global Contract Research Organisation (CRO) Services Market by End Use
8.6.1 Pharmaceutical and Biopharmaceutical Companies
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Medical Device Companies
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Academic Institutes
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Others
8.7 Global Artificial Intelligence Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Contract Research Organisation (CRO) Services Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Contract Research Organisation (CRO) Services Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Contract Research Organisation (CRO) Services Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Contract Research Organisation (CRO) Services Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Contract Research Organisation (CRO) Services Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Charles River Laboratories International, Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Clinipace
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Clintec International Ltd.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 CMIC Holdings Co., Ltd
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 EPS International
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Contract Research Organisation (CRO) Services Market: Key Industry Highlights, 2018 and 2032
2. Global Contract Research Organisation (CRO) Services Historical Market: Breakup by Service Type (USD Billion), 2018-2023
3. Global Contract Research Organisation (CRO) Services Market Forecast: Breakup by Service Type (USD Billion), 2024-2032
4. Global Contract Research Organisation (CRO) Services Historical Market: Breakup by Therapeutic Area (USD Billion), 2018-2023
5. Global Contract Research Organisation (CRO) Services Market Forecast: Breakup by Therapeutic Area (USD Billion), 2024-2032
6. Global Contract Research Organisation (CRO) Services Historical Market: Breakup by End Use (USD Billion), 2018-2023
7. Global Contract Research Organisation (CRO) Services Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8. Global Contract Research Organisation (CRO) Services Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Contract Research Organisation (CRO) Services Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Contract Research Organisation (CRO) Services Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Contract Research Organisation (CRO) Services Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Contract Research Organisation (CRO) Services Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Contract Research Organisation (CRO) Services Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Contract Research Organisation (CRO) Services Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Contract Research Organisation (CRO) Services Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Contract Research Organisation (CRO) Services Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Contract Research Organisation (CRO) Services Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Contract Research Organisation (CRO) Services Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Contract Research Organisation (CRO) Services Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Contract Research Organisation (CRO) Services Market Structure
Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 51.46 billion.
The market is projected to grow at a CAGR of 7% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 94.55 billion by 2032.
The major market drivers include advancements in the healthcare sector, increasing R&D activities by key players, the introduction of stringent government regulations to ensure safety of drugs, patent expiration of blockbuster drugs, growing mergers and acquisitions by leading companies, and technological advancements.
The key trends guiding the growth of the market include the expansion of CROs in the emerging nations and the growing investments in the drug development project by various government and private organisations.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major service types provided by contract research organisation (CROs) include early phase development, clinical research activities, laboratory services, consulting services, and data management services, among others.
Oncology, clinical pharmacology, cardiovascular, infectious disease, neurology, gastroenterology and hepatology, and respiratory, among others, are the significant therapeutic areas of the product.
The major end use segments of the product include pharmaceutical and biopharmaceutical companies, medical device companies, and academic institutes, among others.
The major players in the market are Charles River Laboratories International, Inc., Clinipace, Clintec International Ltd., CMIC Holdings Co., Ltd, and EPS International, among others.
Analyst Review
The global contract research organisation (CRO) services market attained a value of USD 51.46 billion in 2023, driven by the growing research and development activities, developing healthcare industry, and technological advancements. Aided by the growing drug development projects and the rising penetration of major players into lower-cost emerging markets, the contract research organisation (CRO) services industry is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 7%. The market is projected to reach USD 94.55 billion by 2032.
EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on service type, the contract research organisation (CRO) services industry can be segmented into early phase development, clinical research services, laboratory services, consulting services, and data management services, among others. On the basis of the therapeutic area, the industry is divided into oncology, clinical pharmacology, cardiovascular, infectious disease, neurology, gastroenterology and hepatology, and respiratory, among others. By end use, the industry is categorised into pharmaceutical and biopharmaceutical companies, medical device companies, and academic institutes, among others. The major regional markets for contract research organisation (CRO) services are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America accounting for the largest share of the market. The key players in the above market include Charles River Laboratories International, Inc., Clinipace, Clintec International Ltd., CMIC Holdings Co., Ltd, and EPS International, among others.
EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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