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North America Contract Research Organisation (CRO) Services Market Size, Share, Research, Analysis, Forecast: By Service Type: Early Phase Development Services, Clinical, Laboratory Services, Others; By Therapeutic Area: Oncology, Clinical Pharmacology, Cardiovascular, Others; By End Use; Regional Analysis; Competitive Landscape; 2018-2028
North America Contract Research Organisation (CRO) Services Market Outlook
The North America contract research organisation (CRO) services market size attained a value of USD 24.39 billion in 2022. The market is expected to grow further at a CAGR of 7.70% during the forecast period of 2023-2028. It is likely to reach a value of USD 38.06 billion by 2028, owing to the increasing research and development expenditures.
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North America Contract Research Organisation (CRO) Services Market Trends
Contract research organisations (CROs) offer research-based services to government agencies in the pharmaceutical, biotechnology, and related sectors. They can be either major, full-scale organisations, with an international presence or small, specialised organisations with a narrow focus that provide drug and device research and development (R&D) services, such as drug discovery, preclinical research, and clinical research, among others.
- Increasing outsourcing trends in the clinical trials sector and rising usage of cutting-edge technology for effective research and development outcomes have a significant impact on market growth. The CRO market statistics are changing and increasing due to the considerable transition from maintaining manual/paper-based records to digital data capture technology.
- Services provided by contract research organisations (CROs) have proliferated in the healthcare sector in the past few years. Research and medication development in the healthcare industry have made significant advances. The need for services provided by contract research organisations (CROs) is being boosted by the ageing population's growth, growing acceptance of digital pathology portals, and the lifestyle-related disorders. The North America contract research organisation (CRO) services market expansion is driven by the rising prevalence of chronic diseases, particularly in the elderly.
- Other factors influencing the expansion of contract research organisations (CRO) include increased disease monitoring and screening, the requirement for routine diagnostics in healthcare settings, the spread of chronic diseases like diabetes, and the rise in new strains of infectious diseases. These factors are supported by government public health screening policies, the massive increase in patient specimens tested in labs, and the resulting demand for clinical lab testing services.
North America Contract Research Organisation (CRO) Services Market Analysis
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Based on service type, the market is segmented into early phase development services, clinical, and laboratory services, among others. Early phase development services are further divided into discovery science, chemistry, and preclinical services whereas clinical are sub-divided into phase I, phase II, phase III, and phase IV. Laboratory services are divided into analytical testing services and bioanalytical testing services.
The North America contract research organisation (CRO) services market, on the basis of therapeutic area, can be divided into oncology, clinical pharmacology, cardiovascular, infectious disease, neurology, gastroenterology and hepatology, and respiratory, among others. On the basis of end-use, the market can be segmented into pharmaceutical and biopharmaceutical companies, medical device companies, and academic institutes, among others. The major countries in the contract research organisation (CRO) services market in North America are United States and Canada.
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. The report gives a detailed analysis of the North America contract research organisation (CRO) services companies, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- IQVIA Holdings Inc.
- Thermo Fisher Scientific Inc.
- Medpace Holdings, Inc.
- Parexel International Corporation
- Labcorp
- Clinipace
- ICON plc
- Medpace, Inc
- Others
North America Contract Research Organisation (CRO) Services Market Share by Service Type
A growing geriatric population, rising demand for timely and accurate disease diagnosis, and an increase in the prevalence of chronic diseases, which is driving up demand for novel drug development, are contributing to the expected significant growth of the clinical services segment over the forecast period. The demand for clinical trials is projected to be increased by a variety of products being developed in a number of therapeutic areas, an increase in the demand for efficient therapies, and increased biotechnology and pharmaceutical company research and development.
Additionally, the market for clinical services is anticipated to accelerate North America contract research organisation (CRO) services market expansion as a result of patients' early access to affordable therapies during clinical trial services.
Market Share by End-Use
Pharmaceutical and biopharmaceutical companies are predicted to lead the contract research organisation (CROs) services market in terms of revenue throughout the forecast period. The demand for the segment is anticipated to increase during the forecast period as a result of the growing trend of pharmaceutical and biotechnology companies outsourcing end-to-end services, particularly among small and mid-size businesses lacking significant expertise in the preclinical stage of drug development.
The prevalence of chronic illnesses like cancer, diabetes, heart disease, and neurological and infectious diseases is also increasing, and pharmaceutical and biopharmaceutical companies are investing more money in creating new treatments, which will increase the demand for North America contract research organisation (CRO) services market.
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Competitive Landscape
IQVIA Holdings Inc., established in 1982, is a prominent global provider of clinical research services, advanced analytics, technological solutions to the life sciences industry. Through its analytics, disruptive technologies, in-depth topic understanding, and big data resources, IQVIA forges intelligent linkages across all facets of healthcare. IQVIA is headquartered in North Carolina in the United States.
Thermo Fisher Scientific Inc. headquartered in the United States, is a provider of scientific equipment, reagents and consumables, and software services. The 1956-founded business provides goods and services that benefit clients all over the world in hospitals and laboratories, on assembly lines, and in the field. It generates around USD 40 billion in annual revenue and is a driving force in the research, healthcare, industrial, and application markets.
Medpace Holdings Inc., one of the leading key players in the North America contract research organisation (CRO) services market was established in 1992. It is a full-service, globally active clinical contract research organisation (CRO) with a scientifically driven approach and offers these services to the biotechnology, pharmaceutical, and medical device industries. Through its high-science and disciplined operating approach, which draws on local regulatory and in-depth therapeutic expertise in all important areas, including endocrinology, oncology, cardiology, central nervous system, metabolic disease, and anti-viral and anti-infective therapies, Medpace, with its headquarters in Ohio, seeks to accelerate the global development of safe and effective medical therapeutics.
Other market players include Parexel International Corporation, Labcorp, Clinipace, ICON plc, and Medpace, Inc, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Service Type |
|
| Breakup by Therapeutic Area |
|
| Breakup by End Use |
|
| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*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 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Contract Research Organisation (CRO) Services Market Analysis
8.1 Key Industry Highlights
8.2 North America Contract Research Organisation (CRO) Services Historical Market (2018-2022)
8.3 North America Contract Research Organisation (CRO) Services Market Forecast (2023-2028)
8.4 North America Contract Research Organisation (CRO) Services Market by Service Type
8.4.1 Early Phase Development Services
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.1.4 Breakup by Type
8.4.1.4.1 Discovery Science
8.4.1.4.2 Chemistry
8.4.1.4.3 Preclinical Services
8.4.2 Clinical
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.2.4 Breakup by Type
8.4.2.4.1 Phase I
8.4.2.4.2 Phase II
8.4.2.4.3 Phase III
8.4.2.4.4 Phase IV
8.4.3 Laboratory Services
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.3.4 Breakup by Type
8.4.3.4.1 Analytical Testing Services
8.4.3.4.2 Bioanalytical Testing Services
8.4.4 Others
8.5 North America Contract Research Organisation (CRO) Services Market by Therapeutic Area
8.5.1 Oncology
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Clinical Pharmacology
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Cardiovascular
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Infectious Disease
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Neurology
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
8.5.6 Gastroenterology and Hepatology
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2022)
8.5.6.3 Forecast Trend (2023-2028)
8.5.7 Respiratory
8.5.7.1 Market Share
8.5.7.2 Historical Trend (2018-2022)
8.5.7.3 Forecast Trend (2023-2028)
8.5.8 Others
8.6 North America Contract Research Organisation (CRO) Services Market by End Use
8.6.1 Pharmaceutical and Biopharmaceutical Companies
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Medical Device Companies
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Academic Institutes
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Others
8.7 North America Contract Research Organisation (CRO) Services Market by Region
8.7.1 Market Share
8.7.1.1 United States
8.7.1.2 Canada
9 Regional Analysis
9.1 United States
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 IQVIA Holdings Inc.
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio
11.2.1.3 Demographic Reach and Achievements
11.2.1.4 Certifications
11.2.2 Thermo Fisher Scientific Inc.
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio
11.2.2.3 Demographic Reach and Achievements
11.2.2.4 Certifications
11.2.3 Medpace Holdings, Inc.
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio
11.2.3.3 Demographic Reach and Achievements
11.2.3.4 Certifications
11.2.4 Parexel International Corporation
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio
11.2.4.3 Demographic Reach and Achievements
11.2.4.4 Certifications
11.2.5 Labcorp
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio
11.2.5.3 Demographic Reach and Achievements
11.2.5.4 Certifications
11.2.6 Clinipace
11.2.6.1 Company Overview
11.2.6.2 Product Portfolio
11.2.6.3 Demographic Reach and Achievements
11.2.6.4 Certifications
11.2.7 ICON plc
11.2.7.1 Company Overview
11.2.7.2 Product Portfolio
11.2.7.3 Demographic Reach and Achievements
11.2.7.4 Certifications
11.2.8 Medpace, Inc
11.2.8.1 Company Overview
11.2.8.2 Product Portfolio
11.2.8.3 Demographic Reach and Achievements
11.2.8.4 Certifications
11.2.9 Others
12 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Contract Research Organisation (CRO) Services Market: Key Industry Highlights, 2018 and 2028
2. North America Contract Research Organisation (CRO) Services Historical Market: Breakup by Service Type (USD Billion), 2018-2022
3. North America Contract Research Organisation (CRO) Services Market Forecast: Breakup by Service Type (USD Billion), 2023-2028
4. North America Contract Research Organisation (CRO) Services Historical Market: Breakup by Therapeutic Area (USD Billion), 2018-2022
5. North America Contract Research Organisation (CRO) Services Market Forecast: Breakup by Therapeutic Area (USD Billion), 2023-2028
6. North America Contract Research Organisation (CRO) Services Historical Market: Breakup by End Use (USD Billion), 2018-2022
7. North America Contract Research Organisation (CRO) Services Market Forecast: Breakup by End Use (USD Billion), 2023-2028
8. North America Contract Research Organisation (CRO) Services Historical Market: Breakup by Country (USD Billion), 2018-2022
9. North America Contract Research Organisation (CRO) Services Market Forecast: Breakup by Country (USD Billion), 2023-2028
10. North America Contract Research Organisation (CRO) Services Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 7.70% during the forecast period of 2023-2028.
The major drivers of the market include the increasing outsourcing trends in the clinical trials sector, rising usage of cutting-edge technology, growing acceptance of digital pathology portals, increased disease monitoring and screening, growing geriatric population, rising demand for timely and accurate disease diagnosis.
The rising prevalence of chronic diseases and the need for routine diagnostics in healthcare settings are the key industry trends propelling the growth of the market.
The major players in the industry are IQVIA Holdings Inc., Thermo Fisher Scientific Inc., Medpace Holdings, Inc., Parexel International Corporation, Labcorp, Clinipace, ICON plc, and Medpace, Inc, among others.
A contract research organisation (CRO) offers services in research and development, whereas a contract manufacturing organisation (CMO) focuses on manufacturing.
A wide range of clinical research services, such as project management, research compliance, data management, research education, medicine and disease coding, and clinical study management, are available from CROs to medical sponsors.
Contract research organisations (CROs) are suppliers who do more specialised and targeted R&D tasks for the pharmaceutical or biotech industries through outsourcing. Their specialty in particular parts of the growth process or therapeutic specialties highlights their proficiency in those sectors.
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