Global Contract Research Organization (CRO) Market Size, Share, Forecast Report, 2020-2027

The global Contract Research Organization (CRO) market garnered revenue around USD 49.2 Billion in 2019 and projected to reach USD 96.5 Billion in 2027, with at a compound annual growth rate (CAGR) 8.1% throughout the estimate period from 2020 to 2027. Contract research organizations are engaged in offering a range of research services on a contract basis to pharmaceutical, medical device, and biotechnology companies. The global contract research organization (CRO) services market is driven by increase in the penetration of CROs, globalization of clinical trials, rise in spending on research and development (R&D), and growth in the number of clinical trials being conducted worldwide. North America dominated the global contract research organization (CRO) services market in 2018 and the trend is anticipated to continue during the forecast period. Strong growth of the market in the region can be attributed to increase in the number of clinical trials and rise in the demand for biosimilars, owing to patent expiry, which fuels the demand for rapid conduction of trials and regulatory approvals. This prompts pharmaceutical manufacturers to approach CROs, thereby boosting the global contract research organization (CRO) services market.

This research report encompasses precise assessment of the market with the help of comprehensive qualitative insights and supportable prognoses regarding market size, consumption and production. The projections presented in the report have been derived using proven research methodologies and assumptions. It does so by means of comprehensive qualitative insights, historical statistics, and verifiable predictions about market revenue and sales.

The rapidly budding threat owed to the eruption of COVID-19 is impacting lives, communities, businesses, and industries across the globe. With businesses shuttered, flights grounded, COVID-19 is about to affect the global economy in different ways such as by directly upsetting production and demand, by generating supply chain disruption, and by its financial impact on firms and financial markets. Therefore, this report covers COVID-19 outbreak impact analysis on the Contract Research Organization (CRO) market under the research study. The market estimates offered in the report are the outcome of in-depth extensive secondary research, primary interviews and in-house professional assessments. These market evaluations have been measured by reviewing the impact of numerous social, political and economic factors coupled with recent market dynamics affecting the Contract Research Organization (CRO) market growth.

The global Contract Research Organization (CRO) market is characterized by the presence of numerous small as well as medium scale companies. These players are largely focused towards forward integration via raw material production, product manufacturing, and distribution across various industry verticals. The report recognizes numerous crucial manufacturers of the market. This research study aids to comprehend the strategies and associations that companies are converging to survive in this competitive marketplace. This report assists in understanding footprints of the manufacturers with the help of their global revenue, production, capacity and average selling price analysis for period 2016-2027.

Major manufacturers analysed under this study comprises:

the global contract research organization (CRO) services market are Laboratory Corporation of America Holdings, IQVIA Inc., Syneos Health, Inc., Parexel International Corporation, PRA Health Sciences, Inc., PPD, Inc., Charles River Laboratories, Inc., Icon plc, WuXi AppTec Group, and Medpace.

This report delivers market breakdown and its revenue, consumption, production analysis and projections by categorizing it depending on parameters such as type, application/end-user, and region. This research report delivers the analysis and prognosis of revenue, production, price, market share and growth trend for different products such as:

Global Contract Research Organization (CRO) Services Market: Segmentation

Contract Research Organization (CRO) Services Market, by Service Type

• Early Phase Development
  • Discovery Services
  • Chemistry
  • Preclinical Services
    • Toxicology
    • Pharmacokinetics
    • Others
  • Clinical Research Services
    • Phase I
    • Phase II
    • Phase III
    • Phase IV
  • Laboratory Services
    • Bioanalytical Services
    • Analytical Services
    • Others
  • Consulting Services

Contract Research Organization (CRO) Services Market, by Therapeutic Indication

• Oncology
• Infectious Diseases
• Immunological Disorders
• Respiratory Diseases
• Cardiovascular Diseases
• Neurological Disorders
• Others

Contract Research Organization (CRO) Services Market, by End User

• Medical Device Companies
• Biopharmaceutical Companies
• Others

Regional Analysis and Forecast

Further, this research study analyses market size, production, consumption and its advancement trends at global, regional, and country level for period 2016 to 2027 and covers following region in its scope:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • United Kingdom
  • Italy
  • France
  • Rest of EU
• Asia Pacific
  • China
  • India
  • Japan
  • Southeast Asia
  • Rest of APAC
• Central & South America
  • Brazil
  • Argentina
  • Rest of Central & South America
• Middle East and Africa
  • UAE
  • Saudi Arabia
  • Rest of MEA