Healthcare Contract Research Organization Market (2022 - 2032)
Healthcare Contract Research Organization Market Analysis by Type (Pre-Clinical, Drug Discovery, Clinical, Full Healthcare Contract Research Organization), by Service (Bio-statistics, Medical Writing, Investigator Payments, Data Management) & Regional Forecast 2022 to 2032
Core Findings
FREE CustomizationHealthcare Contract Research Organization Market Outlook (2022 to 2032)
The global sales of healthcare contract research organization garnered a market value of US$ 44 Bn in 2022 and is expected to register a CAGR of 6% by accumulating a market value of US$ 79 Bn through the assessment period 2022 to 2032
| Report Attributes | Details |
|---|---|
| Market Size Value in 2022 | US$ 44 Bn |
| Project Market Forecast Value in 2032 | US$ 79 Bn |
| Global Growth Rate (2022 to 2032) | 6% |
| Market Share of North America | 40% |
| Key Companies Profiled | Charles River Laboratories (CRL); Syneos Health; Pharmaceutical Product Development, LLC (PPD); PAREXEL INTERNATIONAL CORPORATION; IQVIA HOLDINGS INC.; GVK Biosciences Private Limited (Aragen); ICON Plc.; Covance Inc.; Medidata Solutions, Inc. |
An increase in research and development activities along with an inclination towards outsourcing activities due to time and cost constraints is expected to drive the healthcare contract research organization market. Furthermore, contract research outsourcing offers cutting-edge services. Thus, government organizations have exhibited a preference towards assigning projects to CROs.
Demand Analysis of Healthcare Contract Research Organization from 2015 to 2021 Vs Market Projections for 2022 to 2032
As per Fact.MR’s report, from 2015 to 2021, demand for healthcare contract research organization market surpassed US$ 40 Bn by the end of 2021. According to the report, the market flourished at a CAGR of 5.2% during the aforementioned historical period. The ever evolving nature of chronic and infectious diseases is prompting pharmaceutical and healthcare companies to avail research facilities to develop novel drugs and treatments.
During the COVID-19 pandemic, prospects for healthcare CRO further heightened. The highly contagious nature of the novel severe acute respiratory syndrome (SARS) induced by the virus has prompted various international level coalitions among pharmaceutical companies as well as governments to discover a cure. This has translated into development of effective vaccines. Further research is underway to develop an oral drug to counter this virus.
Research and development for clinical trials and initiatives by government to cut down on the time for approval of medicines are driving the demand for healthcare contract research organizations. Thus, the sales of healthcare contract research organization are expected to exceed US$ 79 Bn by registering a CAGR of 6% in the forecast period 2022 to 2032.
Healthcare and Pharmaceuticals Companies Healthcare Contract Research Organization?
An increase in the pressure on drug developers related to clinical data management, stringent safety standards and regulatory environments are expected to positively influence the demand for contract research organizations within the healthcare sector.
In addition, healthcare and pharmaceutical companies are not only outsourcing clinical trials but also production of medicines. Thus, with an increase in clinical trial privatization, outsourcing to developing countries has been observed.
Many healthcare contract research organizations are focusing on enhancing their global research network to provide better services to their customers. Thus, demand for healthcare contract research organizations is expected to surge.
Country-wise Analysis
Government initiatives Escalating Market for Healthcare Contract Research Organization?
High prevalence of chronic conditions along with the availability of diverse populations such as geriatric, women and children are increasing the demand for healthcare contract research organizations in Asia Pacific. Not only do countries like India and China offer easy patient recruitment and retention but they also follow regulations set by the government.
Besides this, favourable initiatives by public organizations to reduce the timeline of drug approval are helping the market. In addition, due to the adverse effects of the coronavirus pandemic, the Indian government is taking initiatives to reduce the approval time for medicines. Thus, Asia Pacific is expected to hold more than 40% market share for healthcare contract research organizations.
Government Funding Augmenting Market for Healthcare Contract Research Organization?
The highest number of trials undertaken and outsourced in North America. In addition, government support for R&D activities via grants and funds to research institutes and companies is positively influencing the healthcare contract research organization market.
Moreover, due to the onset of the coronavirus pandemic, the U.S. government invested in research for vaccines. Thus, North America is expected to hold more than 25% market share for healthcare contract research organizations.
Category-Wise Insights
Why is Healthcare CRO for Clinical Trials Acquiring Importance?
Recent epidemic events and a rise in the case of biologics is leading to the demand for new treatments. In addition, the need for personalized medicines and orphan drugs is increasing the importance of clinical services. Furthermore, demand for a contract research organization to conduct clinical trials along with technological evolution and globalization of clinical trials is driving the growth of clinical trials.
Phase III clinical trials are the most expensive clinical trials. Moreover, 90% of the expenses occur during the clinical development from this phase. Thus, clinical services are expected to hold more than 70% market share for healthcare contract research organizations.
Cost Effectiveness Driving Clinical Monitoring for Healthcare Contract Research Organization?
Introduction of smart analytics along with real-time data acquisition devices is expected to improve clinical monitoring data in the healthcare sector. In addition, clinical research is being outsourced to CROs owing to reasons such as cost-effectiveness and technical expertise.
Furthermore, the increasing number of clinical trials & the need to monitor those studies are creating demand for these services. Moreover, real-time data acquisition related to drug safety and toxicity allows early identification of trial errors and enables timely rectifications. Thus, clinical monitoring is expected to hold more than 20% market share for healthcare contract research organizations.
Competitive Landscape
Prominent healthcare contract research organizations are collaborating with leading pharmaceutical and healthcare companies to expedite their clinical trials, drug discovery and drug development processes. Some notable developments in this regard are as follows:
- In January 2022, Charles River Laboratories International Inc. and Valo Health LLC announced a multi-year strategic partnership to transform drug discovery and development process by using human-centric data and computation powered by AI
- In October 2021, Syneos Health announced the acquisition of RxDataScience. The company is focusing on offering technology based innovations to accelerate production.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2015 to 2021 |
| Market Analysis | US$ Mn for Value & ‘000 Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East & Africa |
| Key Countries Covered | U.S, Canada, Brazil, Mexico, Germany, U.K, France, Italy, BENELUX, Nordics, China, Japan, South Korea, GCC, Turkey, South Africa |
| Key Segments Covered | Type, Service, Region |
| Pricing | Available upon Request |
Key Segments Covered in Healthcare Contract Research Organization Industry Report
-
By Type :
- Pre-Clinical Healthcare Contract Research Organization
- Healthcare Contract Research Organization for Drug Discovery
- Lead Identification
- Target Validation
- Lead Optimization
- Clinical Healthcare Contraction Research Organization
- Phase I Trial Services
- Phase II Trial Services
- Phase III Trial Services
- Phase IV Trial Services
- Full Healthcare Contract Research Organization
-
By Service :
- Healthcare CRO for Project Management/Clinical Supply Management
- Healthcare CRO for Quality Management/ Assurance
- Healthcare CRO for Bio-statistics
- Healthcare CRO for Regulatory/Medical Affairs
- Healthcare CRO for Medical Writing
- Healthcare CRO for Investigator Payments
- Healthcare CRO Services for Laboratory
- Healthcare CRO for Data Management
- Healthcare CRO for Clinical Monitoring
- Healthcare CRO for Patient and Site Recruitment
- Healthcare CRO for Technology
- Healthcare CRO for Other Services
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Market Risks and Trends Assessment
- 4. Market Background and Foundation Data Points
- 5. Key Success Factors
- 6. Global Market Demand Analysis 2015 to 2021 and Forecast, 2022 to 2032
- 7. Global Market Value Analysis 2015 to 2021 and Forecast, 2022 to 2032
- 8. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Type
- 8.1. Drug Discovery
- 8.1.1. Target Validation
- 8.1.2. Lead Identification
- 8.1.3. Lead Optimization
- 8.2. Pre-Clinical
- 8.3. Clinical
- 8.3.1. Phase I Trial Services
- 8.3.2. Phase II Trial Services
- 8.3.3. Phase III Trial Services
- 8.3.4. Phase IV Trial Services
- 8.4. Full Healthcare Contract Research Organization
- 8.1. Drug Discovery
- 9. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Service
- 9.1. Project Management/Clinical Supply Management
- 9.2. Data Management
- 9.3. Regulatory/Medical Affairs
- 9.4. Medical Writing
- 9.5. Clinical Monitoring
- 9.6. Quality Management/Assurance
- 9.7. Bio-statistics
- 9.8. Investigator Payments
- 9.9. Laboratory
- 9.10. Patient and Site Recruitment
- 9.11. Technology
- 9.12. Others
- 10. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Region
- 10.1. North America
- 10.2. Latin America
- 10.3. Europe
- 10.4. Asia Pacific
- 10.5. Middle East and Africa (MEA)
- 11. North America Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 12. Latin America Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 13. Europe Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 14. Asia Pacific Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 15. Middle East and Africa Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 16. Key Countries Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 17. Market Structure Analysis
- 18. Competition Analysis
- 18.1. ICON Plc
- 18.2. Charles River Laboratories (CRL)
- 18.3. Syneos Health
- 18.4. IQVIA Holdings Inc
- 18.5. GVK Biosciences Private Limited
- 18.6. Covance Inc.
- 18.7. Pharmaceutical Product Development, LLC (PPD)
- 18.8. PAREXEL International Corporation
- 18.9. Medidata Solutions Inc.
- 19. Assumptions and Acronyms Used
- 20. Research Methodology
List Of Table
Table 1: Global Market Value (US$ Mn), By Type, 2015 to 2021
Table 2: Global Market Value (US$ Mn), By Type, 2022 to 2032
Table 3: Global Market Value (US$ Mn), By Service , 2015 to 2021
Table 4: Global Market Value (US$ Mn), By Service , 2022 to 2032
Table 5: Global Market, By Region, 2015 to 2021
Table 6: Global Market, By Region, 2022 to 2032
Table 7: North America Market Value (US$ Mn), By Type, 2015 to 2021
Table 8: North America Market Value (US$ Mn), By Type, 2022 to 2032
Table 9: North America Market Value (US$ Mn), By Service , 2015 to 2021
Table 10: North America Market Value (US$ Mn), By Service , 2022 to 2032
Table 11: North America Market, By Country, 2015 to 2021
Table 12: North America Market, By Country, 2022 to 2032
Table 13: Latin America Market Value (US$ Mn), By Type, 2015 to 2021
Table 14: Latin America Market Value (US$ Mn), By Type, 2022 to 2032
Table 15: Latin America Market Value (US$ Mn), By Service , 2015 to 2021
Table 16: Latin America Market Value (US$ Mn), By Service , 2022 to 2032
Table 17: Latin America Market, By Country, 2015 to 2021
Table 18: Latin America Market, By Country, 2022 to 2032
Table 19: Europe Market Value (US$ Mn), By Type, 2015 to 2021
Table 20: Europe Market Value (US$ Mn), By Type, 2022 to 2032
Table 21: Europe Market Value (US$ Mn), By Service , 2015 to 2021
Table 22: Europe Market Value (US$ Mn), By Service , 2022 to 2032
Table 23: Europe Market, By Country, 2015 to 2021
Table 24: Europe Market, By Country, 2022 to 2032
Table 25: Asia Pacific Market Value (US$ Mn), By Type, 2015 to 2021
Table 26: Asia Pacific Market Value (US$ Mn), By Type, 2022 to 2032
Table 27: Asia Pacific Market Value (US$ Mn), By Service , 2015 to 2021
Table 28: Asia Pacific Market Value (US$ Mn), By Service , 2022 to 2032
Table 29: Asia Pacific Market, By Country, 2015 to 2021
Table 30: Asia Pacific Market, By Country, 2022 to 2032
Table 31: MEA Market Value (US$ Mn), By Type, 2015 to 2021
Table 32: MEA Market Value (US$ Mn), By Type, 2022 to 2032
Table 33: MEA Market Value (US$ Mn), By Service , 2015 to 2021
Table 34: MEA Market Value (US$ Mn), By Service , 2022 to 2032
Table 35: MEA Market, By Country, 2015 to 2021
Table 36: MEA Market, By Country, 2022 to 2032
Table 37: Global Market Incremental $ Opportunity, By Type,2015 to 2021
Table 38: Global Market Incremental $ Opportunity, By Service,2022 to 2032
Table 39: Global Market Incremental $ Opportunity, By Region,2022 to 2032
Table 40: North America Market Incremental $ Opportunity, By Type,2015 to 2021
Table 41: North America Market Incremental $ Opportunity, By Service,2022 to 2032
Table 42: North America Market Incremental $ Opportunity, By Country,2022 to 2032
Table 43: Latin America Market Incremental $ Opportunity, By Type,2015 to 2021
Table 44: Latin America Market Incremental $ Opportunity, By Service ,2022 to 2032
Table 45: Latin America Market Incremental $ Opportunity, By Country,2022 to 2032
Table 46: Europe Market Incremental $ Opportunity, By Type, 2015 to 2021
Table 47: Europe Market Incremental $ Opportunity, By Service,2022 to 2032
Table 48: Europe Market Incremental $ Opportunity, By Country,2022 to 2032
Table 49: Asia Pacific Market Incremental $ Opportunity, By Type,2015 to 2021
Table 50: Asia Pacific Market Incremental $ Opportunity, By Service, 2022 to 2032
Table 51: Asia Pacific Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 52: MEA Market Incremental $ Opportunity, By Type, 2015 to 2021
Table 53: MEA Market Incremental $ Opportunity, By Service, 2022 to 2032
Table 54: MEA Market Incremental $ Opportunity, By Country, 2022 to 2032
List Of Figures
Figure 1: Global Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 2: Global Market Absolute $ Historical Gain (2015 to 2021) and Opportunity (2022 to 2032), US$ Mn
Figure 3: Global Market Share, By Type, 2022 & 2032
Figure 4: Global Market Y-o-Y Growth Projections, By Type – 2022 to 2032
Figure 5: Global Market Attractiveness Index, By Type – 2022 to 2032
Figure 6: Global Market Share, By Service , 2022 & 2032
Figure 7: Global Market Y-o-Y Growth Projections, By Service – 2022 to 2032
Figure 8: Global Market Attractiveness Index, By Service – 2022 to 2032
Figure 9: Global Market Share, By Region, 2022 & 2032
Figure 10: Global Market Y-o-Y Growth Projections, By Region – 2022 to 2032
Figure 11: Global Market Attractiveness Index, By Region – 2022 to 2032
Figure 12: North America Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 13: North America Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Mn
Figure 14: North America Market Share, By Type, 2022 & 2032
Figure 15: North America Market Y-o-Y Growth Projections, By Type – 2022 to 2032
Figure 16: North America Market Attractiveness Index, By Type – 2022 to 2032
Figure 17: North America Market Share, By Service , 2022 & 2032
Figure 18: North America Market Y-o-Y Growth Projections, By Service – 2022 to 2032
Figure 19: North America Market Attractiveness Index, By Service – 2022 to 2032
Figure 20: North America Market Share, By Country, 2022 & 2032
Figure 21: North America Market Y-o-Y Growth Projections, By Country – 2022 to 2032
Figure 22: North America Market Attractiveness Index, By Country – 2022 to 2032
Figure 23: Latin America Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 24: Latin America Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Mn
Figure 25: Latin America Market Share, By Type, 2022 & 2032
Figure 26: Latin America Market Y-o-Y Growth Projections, By Type – 2022 to 2032
Figure 27: Latin America Market Attractiveness Index, By Type – 2022 to 2032
Figure 28: Latin America Market Share, By Service , 2022 & 2032
Figure 29: Latin America Market Y-o-Y Growth Projections, By Service – 2022 to 2032
Figure 30: Latin America Market Attractiveness Index, By Service – 2022 to 2032
Figure 31: Latin America Market Share, By Country, 2022 & 2032
Figure 32: Latin America Market Y-o-Y Growth Projections, By Country – 2022 to 2032
Figure 33: Latin America Market Attractiveness Index, By Country – 2022 to 2032
Figure 34: Europe Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 35: Europe Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Mn
Figure 36: Europe Market Share, By Type, 2022 & 2032
Figure 37: Europe Market Y-o-Y Growth Projections, By Type – 2022 to 2032
Figure 38: Europe Market Attractiveness Index, By Type – 2022 to 2032
Figure 39: Europe Market Share, By Service , 2022 & 2032
Figure 40: Europe Market Y-o-Y Growth Projections, By Service – 2022 to 2032
Figure 41: Europe Market Attractiveness Index, By Service – 2022 to 2032
Figure 42: Europe Market Share, By Country, 2022 & 2032
Figure 43: Europe Market Y-o-Y Growth Projections, By Country – 2022 to 2032
Figure 44: Europe Market Attractiveness Index, By Country – 2022 to 2032
Figure 45: MEA Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 46: MEA Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Mn
Figure 47: MEA Market Share, By Type, 2022 & 2032
Figure 48: MEA Market Y-o-Y Growth Projections, By Type – 2022 to 2032
Figure 49: MEA Market Attractiveness Index, By Type – 2022 to 2032
Figure 50: MEA Market Share, By Service , 2022 & 2032
Figure 51: MEA Market Y-o-Y Growth Projections, By Service – 2022 to 2032
Figure 52: MEA Market Attractiveness Index, By Service – 2022 to 2032
Figure 53: MEA Market Share, By Country, 2022 & 2032
Figure 54: MEA Market Y-o-Y Growth Projections, By Country – 2022 to 2032
Figure 55: MEA Market Attractiveness Index, By Country – 2022 to 2032
Figure 56: Asia Pacific Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 57: Asia Pacific Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Mn
Figure 58: Asia Pacific Market Share, By Type, 2022 & 2032
Figure 59: Asia Pacific Market Y-o-Y Growth Projections, By Type – 2022 to 2032
Figure 60: Asia Pacific Market Attractiveness Index, By Type – 2022 to 2032
Figure 61: Asia Pacific Market Share, By Service , 2022 & 2032
Figure 62: Asia Pacific Market Y-o-Y Growth Projections, By Service – 2022 to 2032
Figure 63: Asia Pacific Market Attractiveness Index, By Service – 2022 to 2032
Figure 64: Asia Pacific Market Share, By Country, 2022 & 2032
Figure 65: Asia Pacific Market Y-o-Y Growth Projections, By Country – 2022 to 2032
Figure 66: Asia Pacific Market Attractiveness Index, By Country – 2022 to 2032
Figure 67: US Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 68: US Market Share, By Type, 2021
Figure 69: US Market Share, By Service , 2021
Figure 70: Canada Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 71: Canada Market Share, By Type, 2021
Figure 72: Canada Market Share, By Service , 2021
Figure 73: Brazil Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 74: Brazil Market Share, By Type, 2021
Figure 75: Brazil Market Share, By Service , 2021
Figure 76: Mexico Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 77: Mexico Market Share, By Type, 2021
Figure 78: Mexico Market Share, By Service , 2021
Figure 79: Germany Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 80: Germany Market Share, By Type, 2021
Figure 81: Germany Market Share, By Service , 2021
Figure 82: U.K. Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 83: U.K. Market Share, By Type, 2021
Figure 84: U.K. Market Share, By Service , 2021
Figure 85: France Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 86: France Market Share, By Type, 2021
Figure 87: France Market Share, By Service , 2021
Figure 88: Italy Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 89: Italy Market Share, By Type, 2021
Figure 90: Italy Market Share, By Service , 2021
Figure 91: BENELUX Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 92: BENELUX Market Share, By Type, 2021
Figure 93: BENELUX Market Share, By Service , 2021
Figure 94: Nordic Countries Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 95: Nordic Countries Market Share, By Type, 2021
Figure 96: Nordic Countries Market Share, By Service , 2021
Figure 97: China Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 98: China Market Share, By Type, 2021
Figure 99: China Market Share, By Service , 2021
Figure 100: Japan Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 101: Japan Market Share, By Type, 2021
Figure 102: Japan Market Share, By Service , 2021
Figure 103: South Korea Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 104: South Korea Market Share, By Type, 2021
Figure 105: South Korea Market Share, By Service , 2021
Figure 106: GCC Countries Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 107: GCC Countries Market Share, By Type, 2021
Figure 108: GCC Countries Market Share, By Service , 2021
Figure 109: South Africa Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 110: South Africa Market Share, By Type, 2021
Figure 111: South Africa Market Share, By Service , 2021
Figure 112: Turkey Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 113: Turkey Market Share, By Type, 2021
Figure 114: Turkey Market Share, By Service , 2021
- FAQs -
How much is the healthcare contract research organization industry expected to be worth?
As of 2022, the market for healthcare contract research organization reached nearly US$ 44 Bn
What was the market worth of the market for healthcare contract research organization in 2021?
As of 2021, demand for healthcare CRO was valued at US$ 40 Bn, according to Fact.MR
At what rate will the healthcare contract research organization industry grow from 2022-2032?
The healthcare contract research organization industry is expected to surpass a CAGR of 6% from 2022-2032.
At what rate did the market for healthcare contract research organization flourish from 2015 to 2021?
From 2015 to 2021, healthcare contract research organization services surged at a CAGR of 5.2%
How much is the healthcare contract research organization market like to be valued by 2032?
The healthcare contract research organization market is expected to reach nearly US$ 79 Bn by 2032
Which type of service is expected to hold the highest share for sales?
Clinical monitoring is expected to hold more than 20% market share for healthcare contract research organizations.
Which type of healthcare contract research organization is expected to hold the highest share for sales?
Clinical services are expected to hold more than 70% market share for healthcare contract research organizations.
How much is the North America healthcare contract research organization industry worth?
The healthcare contract research organization industry is expected to possess nearly 25% market share throughout North America.
How much is the Asia Pacific healthcare contract research organization industry worth?
The healthcare contract research organization industry is expected to possess nearly 40% market share throughout Asia Pacific.
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