Healthcare Contract Research Organization Market Size Report, 2023-2032
The global Healthcare Contract Research Organization market size was exhibited at USD 46.8 billion in 2022 and is projected to hit around USD 88.67 billion by 2032, growing at a CAGR of 6.6% during the forecast period 2023 to 2032.
Key Pointers:
Healthcare Contract Research Organization Market Report Scope
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Report Coverage |
Details |
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Market Size in 2023 |
USD 49.89 Billion |
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Market Size by 2032 |
USD 88.67 Billion |
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Growth Rate from 2023 to 2032 |
CAGR of 6.6% |
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Base year |
2022 |
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Forecast period |
2023 to 2032 |
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Segments covered |
Type, service, application, end-use, region |
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Regional scope |
North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
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Key companies profiled |
ICON Plc; Charles River Laboratories (CRL); Syneos Health; IQVIA HOLDINGS INC.; GVK Biosciences Private Limited; LabCorp; Thermo Fisher Scientific; PAREXEL INTERNATIONAL CORPORATION; Medidata Solutions, Inc.; Pharmaron; Pharmaron; SGS SA; KCR S.A.; CTI Clinical Trial & Consulting; PSI CRO AG; Clintec; Worldwide Clinical Trials; Wuxi AppTec; Advanced Clinical; Pharm-Olam, LLC; Clinipace |
The increasing investment in R&D programs, preference for outsourcing activities due to time and cost constraints, and patent expiration in the healthcare sector are key factors anticipated to drive the market in the coming years. Contract research outsourcing collaborations offer cutting-edge services and thus government organizations prefer assigning projects to CROs, thereby facilitating the market growth.
Increasing pressure on drug developers pertaining to clinical data management, regulatory environments, and stringent safety standards are the factors expected to drive demand for contract research organizations within the healthcare sector. Healthcare and pharmaceutical companies are not only outsourcing the production of medicines but also their clinical trials. With increasing clinical trial privatization, there is a surge in outsourcing to developing countries. Many healthcare contract research organizations are now enhancing their global research network in order to provide better services to their customers. For instance, in September 2020, ICON announced the launch of Accellacare, a global research network offering patients easier and faster access to innovative treatments, thus providing customers the option to deploy decentralized trials.
The outbreak of the COVID-19 pandemic has significantly hampered the healthcare contract research organization industry growth. Factors such as shortage of patients and temporary closure of clinical trial operating sites have negatively impacted the market for healthcare contract research organizations. However, this crisis created a need for virtual trials and leveraging technology and software solutions. Increasing adoption of machine learning-based platforms, artificial intelligence, and innovative trial designs are projected to transform the contract research organization landscape in the coming years. The pandemic had created an urgent demand for COVID-19 treatment. Owing to which various market players had adopted several partnership strategies to speed up the vaccine development process.
Type Insights
The clinical services segment dominated the market for healthcare contract research organizations and held the highest revenue share of 77.9% in 2022. This growth is owing to the rising number of biologics, recent epidemic events leading to the demand for new treatments, the need for personalized medicines and orphan drugs, and the demand for advanced technologies. Factors such as technological evolution, globalization of clinical trials, and demand for a contract research organization to conduct clinical trials are further projected to drive growth. Outsourcing of Phase III clinical trials to healthcare contract research organizations generated the highest revenue in 2022 due to the fact that they are one of the most expensive stages of a clinical trial; approximately 91.0% of the expenses occurring during the clinical development of a drug stem from this phase.
The preclinical studies segment is projected to witness a rapid growth of 8.2% during the forecast period. An increase in the number of preclinical trials globally and an increasing need to curb R&D expense are expected to contribute to the growing demand for quality preclinical CRO, thereby contributing to market growth. Moreover, the outbreak of the COVID-19 pandemic has further boosted demand for preclinical studies; a majority of the pharmaceutical companies are focusing on the research of novel therapeutics for the treatment of COVID-19 infection post-2021. For instance, in March 2021, Sanofi and Translate Bio, a clinical-stage messenger RNA therapeutics company, announced the initiation of a preclinical study for MRT5500, an mRNA vaccine candidate against SARS-CoV-2 that causes COVID-19. Hence, the aforementioned factors will significantly support segmental growth.
Service Insights
The clinical monitoring segment dominated the market for healthcare contract research organizations and accounted for the largest revenue share of 21.11% in 2022. This may be attributed to the increasing number of clinical trials & the need to monitor those studies that are creating more demand for these services. Clinical research is being outsourced to CROs over the past decade due to various reasons such as cost-effectiveness and technical expertise. The introduction of smart analytics along with real-time data acquisition devices is estimated to improve clinical monitoring data in the healthcare sector. Real-time data acquisition related to drug safety and toxicity enables early identification of trial errors and enables timely rectifications such as trial re-design or termination, thereby propelling segment growth.
The regulatory/medical affairs segment is anticipated to witness the fastest growth rate of 10.9% in the Healthcare Contract Research Organization (CRO) market over the forecast period. The outsourcing for regulatory affairs is expanding rapidly due to the increase in R&D activities, clinical trial applications, product registration, and drug pipeline. The increasing demand to obtain approval for new products, maintain compliance, and do more with less is projected to support the growth of the segment.
Regional Insights
Asia Pacific dominated the market for healthcare contract research organizations and held the largest revenue share of 43.9% in 2022. The region is also anticipated to grow at a rapid pace over the forecast period. This may be attributed to the high prevalence of chronic conditions, availability of diverse populations, easy patient recruitment and retention, and the establishment of regulations as per accepted standards. Besides this, favorable initiatives by public organizations to reduce the time for drug approval are also contributing to market growth. For instance, in October 2022, the Department of Pharmaceuticals (India) drafted new rules to reduce the time required for the approval of innovative products by at least 50% within the next two years, to improve the R&D activities in the country. Such initiatives are anticipated to further propel regional growth.
In North America, the market for healthcare contract research organizations held a substantial share in 2022, owing to the highest number of trials undertaken and outsourced in the region. In addition, growing government support for R&D activities through grants and funds to research institutes and companies has driven this regional market. For instance, in 2018, the U.S. government invested USD 194.2 billion in medical & health R&D. Similarly, owing to the COVID-19 pandemic, the Biomedical Advanced Research and Development Authority invested approximately USD 19,283 million for the development of COVID-19 vaccines.
Some of the prominent players in the Healthcare Contract Research Organization Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Healthcare Contract Research Organization market.
By Type
By Service
By Application Outloo
By End-use
By Region
Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.1.1 Type
1.1.2 Service
1.1.3 Regional scope
1.1.4 Estimates and forecast timeline
1.2 Research Methodology
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 Nova one advisor’s Internal Database
1.3.3 Secondary Sources
1.3.4 Primary Research
1.3.5 Details Of Primary Research
1.4 Information or Data Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation & Validation
1.6 Model Details
1.6.1 Commodity Flow Analysis (Model 1)
1.6.2 Volume Price Analysis (Model 2)
1.7 List of Secondary Sources
1.8 List of Primary Sources
1.9 List of Abbreviations
1.10 Objectives
1.10.1 Objective - 1: Understanding the market dynamics
1.10.2 Objective - 2: Understanding the market estimates and forecasts
1.10.3 Objective - 3: Understanding the attributes such as strategy framework
1.10.4 Objective - 4: Understanding the key service and application scopes to conclude on the market size
Chapter 2 Executive Summary
2.1 Market Outlook
Chapter 3 Healthcare CRO Market: Variables, Trends, & Scope
3.1 Market Segmentation and Scope
3.2 Market Driver Analysis
3.2.1 Increasing adoption of advanced technologies
3.2.2 Increasing mergers and collaborations
3.2.3 Increasing outsourcing of R&D activities
3.2.4 Patent cliff
3.2.5 Favorable environment for clinical trials in developing countries
3.3 Market Restraint Analysis
3.3.1 Quality issues of CRO services
3.3.2 Intellectual property rights issues
3.4 Penetration & Growth Prospect Mapping
3.5 Porter’s Five Forces Analysis
3.6 PESTEL Analysis
Chapter 4 Healthcare CRO Market: Stage Segment Analysis
4.1 Healthcare CRO: Market Share Analysis, 2023 & 2032
4.2 Drug Discovery
4.2.1 Drug Discovery market, 2020 - 2032
4.2.2 Target validation
4.2.2.1 Target validation market, 2020 - 2032
4.2.3 Lead identification
4.2.3.1 Lead identification market, 2020 - 2032
4.2.4 Lead optimization
4.2.4.1 Lead optimization market, 2020 - 2032
4.3 Pre-Clinical
4.3.1 Pre-Clinical market, 2020 - 2032
4.4 Clinical
4.4.1 Clinical market, 2020 - 2032
4.4.2 Phase I Trial Services
4.4.2.1 Phase I trial services market, 2020 - 2032
4.4.3 Phase II Trial Services
4.4.3.1 Phase II trial services market, 2020 - 2032
4.4.4 Phase III Trial Services
4.4.4.1 Phase III trial services market, 2020 - 2032
4.4.5 Phase IV Trial Services
4.4.5.1 Phase IV trial services market, 2020 - 2032
Chapter 5 Healthcare CRO Market: Service Segment Analysis
5.1 Healthcare CRO: Market Share Analysis, 2023 & 2032
5.2 Project Management/Clinical Supply Management
5.2.1 Project Management/Clinical Supply Management market, 2020 - 2032
5.3 Data Management
5.3.1 Data Management market, 2020 - 2032
5.4 Regulatory/Medical Affairs
5.4.1 Regulatory/Medical Affairs market, 2020 - 2032
5.5 Medical Writing
5.5.1 Medical Writing market, 2020 - 2032
5.6 Clinical Monitoring
5.6.1 Clinical Monitoring market, 2020 - 2032
5.7 Quality Management/ Assurance
5.7.1 Quality Management/ Assurance market, 2020 - 2032
5.8 Bio-statistics
5.8.1 Bio-statistics market, 2020 - 2032
5.9 Investigator Payments
5.9.1 Investigator Payments market, 2020 - 2032
5.10 Laboratory
5.10.1 Laboratory market, 2020 - 2032
5.11 Patient and Site Recruitment
5.11.1 Patient and site Recruitment market, 2020 - 2032
5.12 Technology Services
5.12.1 Technology services market, 2020 - 2032
5.13 Other Services
5.13.1 Other services market, 2020 - 2032
Chapter 6 Healthcare CRO Market: Application Segment Analysis
6.1 Healthcare CRO: Market Share Analysis, 2023 & 2032
6.2 Oncology
6.2.1 Oncology market, 2020 - 2032
6.3 Cardiovascular
6.3.1 Cardiovascular market, 2020 - 2032
6.4 Autoimmune/Inflammation
6.4.1 Autoimmune/Inflammation market, 2020 - 2032
6.5 Central nervous system (CNS)
6.5.1 Central nervous system (CNS) market, 2020 - 2032
6.6 Dermatology
6.6.1 Dermatology market, 2020 - 2032
6.7 Infectious diseases
6.7.1 Infectious diseases market, 2020 - 2032
6.8 Diabetes
6.8.1 Diabetes market, 2020 - 2032
6.9 Pain
6.9.1 Pain market, 2020 - 2032
6.10 Others
6.10.1 Others market, 2020 - 2032
Chapter 7 Healthcare CRO Market: End use Segment Analysis
7.1 Healthcare CRO: Market Share Analysis, 2023 & 2032
7.2 Pharmaceutical & Biopharmaceutical Companies
7.2.1 Pharmaceutical & Biopharmaceutical Companies market, 2020 - 2032
7.3 Medical Device Companies
7.3.1 Medical Device Companies market, 2020 - 2032
7.4 Others
7.4.1 Others market, 2020 - 2032
Chapter 8 Healthcare CRO Market: Service Segment Analysis
8.1 Healthcare CRO: Market Share Analysis, 2023 & 2032
8.2 North America
8.2.1 North America Healthcare CRO market, 2020 - 2032
8.2.2 U.S.
8.2.2.1 U.S. healthcare CRO market, 2020 - 2032
8.2.3 Canada
8.2.3.1 Canada healthcare CRO market, 2020 - 2032
8.3 Europe
8.3.1 Europe Healthcare CRO market, 2020 - 2032
8.3.2 UK
8.3.2.1 UK healthcare CRO market, 2020 - 2032
8.3.3 Germany
8.3.3.1 Germany healthcare CRO market, 2020 - 2032
8.3.4 France
8.3.4.1 France healthcare CRO market, 2020 - 2032
8.3.5 Italy
8.3.5.1 Italy healthcare CRO market, 2020 - 2032
8.3.6 Spain
8.3.6.1 Spain healthcare CRO market, 2020 - 2032
8.3.7 Switzerland
8.3.7.1 Switzerland healthcare CRO market, 2020 - 2032
8.3.8 Belgium
8.3.8.1 Belgium healthcare CRO market, 2020 - 2032
8.3.9 Netherlands
8.3.9.1 Netherlands healthcare CRO market, 2020 - 2032
8.3.10 Austria
8.3.10.1 Austria healthcare CRO market, 2020 - 2032
8.4 Asia Pacific
8.4.1 Asia Pacific Healthcare CRO market, 2020 - 2032
8.4.2 India
8.4.2.1 India healthcare CRO market, 2020 - 2032
8.4.3 China
8.4.3.1 China healthcare CRO market, 2020 - 2032
8.4.4 Japan
8.4.4.1 Japan healthcare CRO market, 2020 - 2032
8.4.5 Korea
8.4.5.1 Korea healthcare CRO market, 2020 - 2032
8.4.6 Taiwan
8.4.6.1 Taiwan healthcare CRO market, 2020 - 2032
8.4.7 Australia
8.4.7.1 Australia healthcare CRO market, 2020 - 2032
8.4.8 Indonesia
8.4.8.1 Indonesia healthcare CRO market, 2020 - 2032
8.4.9 Malaysia
8.4.9.1 Malaysia healthcare CRO market, 2020 - 2032
8.4.10 Singapore
8.4.10.1 Singapore healthcare CRO market, 2020 - 2032
8.4.11 Thailand
8.4.11.1 Thailand healthcare CRO market, 2020 - 2032
8.5 Latin America
8.5.1 Latin America healthcare CRO market, 2020 - 2032
8.5.2 Brazil
8.5.2.1 Brazil healthcare CRO market, 2020 - 2032
8.5.3 Mexico
8.5.3.1 Mexico healthcare CRO market, 2020 - 2032
8.5.4 Argentina
8.5.4.1 Argentina healthcare CRO market, 2020 - 2032
8.5.5 Colombia
8.5.5.1 Colombia healthcare CRO market, 2020 - 2032
8.5.6 Chile
8.5.6.1 Chile healthcare CRO market, 2020 - 2032
8.6 MEA
8.6.1 MEA healthcare CRO market, 2020 - 2032
8.6.2 South Africa
8.6.2.1 South Africa healthcare CRO market, 2020 - 2032
8.6.3 Saudi Arabia
8.6.3.1 Saudi Arabia healthcare CRO market, 2020 - 2032
8.6.4 UAE
8.6.4.1 UAE healthcare CRO market, 2020 - 2032
8.6.5 Iran
8.6.5.1 Iran healthcare CRO market, 2020 - 2032
8.6.6 Israel
8.6.6.1 Israel healthcare CRO market, 2020 - 2032
Chapter 9 Company Profiles
9.1 IQVIA HOLDINGS INC.
9.1.1 Company overview
9.1.2 Financial performance
9.1.3 Service benchmarking
9.1.4 Strategic initiatives
9.2 Covance Inc.
9.2.1 Company overview
9.2.2 Financial performance
9.2.3 Service benchmarking
9.2.4 strategic initiatives
9.3 Thermo Fisher Scientific
9.3.1 Company overview
9.3.2 Service benchmarking
9.3.3 Strategic initiatives
9.4 PAREXEL INTERNATIONAL CORPORATION
9.4.1 Company overview
9.4.2 Financial performance
9.4.3 Servcie benchmarking
9.4.4 Strategic initiatives
9.5 CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
9.5.1 Company overview
9.5.2 Financial performance
9.5.3 Service benchmarking
9.5.4 Strategic initiatives
9.6 ICON, plc
9.6.1 Company overview
9.6.2 Financial performance
9.6.3 Service benchmarking
9.6.4 Strategic initiatives
9.7 Medidata Solutions, Inc.
9.7.1 Company overview
9.7.2 Financial performance
9.7.3 Service benchmarking
9.7.4 Strategic initiatives
9.8 Syneos Health
9.8.1 Company overview
9.8.2 Financial performance
9.8.3 Service benchmarking
9.8.4 Strategic initiatives
9.9 Pharmaron
9.9.1 Company overview
9.9.2 Service benchmarking
9.9.3 Strategic initiatives
9.10 GVK Biosciences Private Limited
9.10.1 Company overview
9.10.2 Service benchmarking
9.10.3 Strategic initiatives
9.11 SGS SA
9.11.1 Company overview
9.11.2 Financial performance
9.11.3 Service benchmarking
9.11.4 Strategic initiatives
9.12 KCR S.A.
9.12.1 Company overview
9.12.2 Financial performance
9.12.3 Service benchmarking
9.12.4 strategic initiatives
9.13 CTI Clinical Trial & Consulting
9.13.1 Company overview
9.13.2 Service benchmarking
9.13.3 Strategic initiatives
9.14 PSI CRO AG
9.14.1 Company overview
9.14.2 Financial performance
9.14.3 Servcie benchmarking
9.14.4 Strategic initiatives
9.15 Clintec
9.15.1 Company overview
9.15.2 Financial performance
9.15.3 Service benchmarking
9.15.4 Strategic initiatives
9.16 Worldwide Clinical Trials
9.16.1 Company overview
9.16.2 Financial performance
9.16.3 Service benchmarking
9.16.4 Strategic initiatives
9.17 Wuxi AppTec
9.17.1 Company overview
9.17.2 Financial performance
9.17.3 Service benchmarking
9.17.4 Strategic initiatives
9.18 Advanced Clinical
9.18.1 Company overview
9.18.2 Financial performance
9.18.3 Service benchmarking
9.18.4 Strategic initiatives
9.19 Pharm-Olam, LLC
9.19.1 Company overview
9.19.2 Service benchmarking
9.19.3 Strategic initiatives
9.20 Clinipace
9.20.1 Company overview
9.20.2 Service benchmarking
9.20.3 Strategic initiatives
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers