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Contract Research Organization (CROs) Services Market Research Report 2024

Contract Research Organization (CROs) Services Market Global Industry Analysis and Forecast (2024-2032) by Service Type (Laboratory Services, Clinical Research Services, Early-phase Development Services, Regulatory Affairs, Consulting Services), Therapeutic Areas (Cardiovascular Diseases, Oncology, Diabetes, Respiratory Disorders, Central Nervous System Disorders, Others {Infectious Diseases, Ophthalmology, Gastroenterology & Hepatology, Metabolic Disorder}), End-User (Academic & Research Institutes, Medical Device Companies, Pharmaceutical & Biotechnological Companies), and Region

Published date: Mar 2025 Report ID: 351 Number of Pages: 240
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Contract Research Organization (CROs) Services Market Synopsis

Contract Research Organization (CROs) Services Market Size Was Valued at USD 79.06 Billion in 2023, and is Projected to Reach USD 177.17 Billion by 2032, Growing at a CAGR of 9.38% From 2024-2032.

Contract Research Organizations (CROs) provide externalized research services to pharmaceutical, biotechnology, and medical device firms. They oversee clinical trials, perform lab services, and ensure regulatory adherence, simplifying the advancement of new drugs and medical devices.Contract Research Organizations (CROs) offer diverse services such as clinical trial management, regulatory compliance, data management, and biostatistical analysis. Pharmaceutical and biotechnology firms rely on CROs to execute intricate clinical trials and research tasks, ensuring regulatory adherence and expediting the drug development process.

They include cost efficiency, specialized expertise, and the capability to handle multiple projects concurrently. CROs optimize operations through their extensive knowledge and resources, enabling companies to concentrate on core activities like drug discovery and marketing. This collaboration reduces the time and financial burden associated with in-house research and development.The increasing complexity of clinical trials and the surge in biotech and pharmaceutical companies. Developments in personalized medicine, gene therapy, and biotechnology fuel this demand, as these fields require advanced and specialized research capabilities. The global CRO market is set to expand as more companies seek efficient and cost-effective research and development solutions.

Top Active Players

Medpace (U.S.), Laboratory Corporation of America Holdings (U.S.), IQVIA Inc (U.S.), Syneos Health (U.S.), KCR S.A. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Worldwide Clinical Trials (U.S.), Charles River Laboratories (U.S.), Microbiologics (U.S.), Parexel International (MA) Corporation (U.S.), Evotec SE (Germany), ICON plc (Ireland), PSI (Switzerland), Ergomed Group (UK), Novotech (Australia), Bioagile (India), WuXi Biologics (China), Tigermed (China), and Other  Active Players.

Contract Research Organization (CROs) Services Market Segment Analysis:

Contract Research Organization (CROs) Services Market Segmented on the basis of Service Type, Therapeutic Areas, and End-User.

By Therapeutic Areas, Oncology segment is expected to dominate the market during the forecast period

  • The oncology segment will dominate the growth of the Contract Research Organization (CRO) services market due to the increasing number of cancer cases and the need for advanced treatments. Pharmaceutical and biotechnology companies are intensifying their efforts to develop innovative cancer therapies, resulting in a surge of oncology clinical trials. CROs are essential in this process, providing expertise in trial design, patient recruitment, data management, and regulatory affairs. This growing demand for specialized oncology services drives the expansion of CROs, catering to the complex needs of cancer research.
  • The oncology segment's dominance stems from significant investments in cancer research by both the public and private sectors. Government initiatives and funding for cancer studies further boost the need for CRO services. As cancer remains a leading cause of mortality worldwide, the emphasis on developing effective treatments increases, positioning oncology at the forefront of the CRO market. Consequently, CROs focusing on oncology will experience substantial growth, meeting the rising demand for comprehensive support in the development of ground-breaking cancer therapies.

By End-User, Pharmaceutical & Biotechnological Companies segment held the largest share in 2023

  • Pharmaceutical and biotechnological companies hold the largest share in the growth of the Contract Research Organization (CRO) services market. These companies increasingly outsource research and development activities to CROs to streamline their operations and reduce costs. The complexity of drug development, coupled with the need for specialized expertise in clinical trials, drives pharmaceutical and biotechnological firms to rely heavily on CROs. This outsourcing trend fuels the CRO market's expansion as these organizations offer critical support in areas such as trial design, patient recruitment, regulatory compliance, and data management.
  • The continuous innovation and introduction of new drugs and therapies by pharmaceutical and biotechnological companies amplify the demand for CRO services. These companies prioritize accelerating their product pipelines and ensuring compliance with stringent regulatory requirements, further increasing their dependence on CROs. As a result, CROs catering to the pharmaceutical and biotechnological sectors experience robust growth, reflecting the ongoing need for efficient and effective R&D solutions in the rapidly evolving healthcare landscape.

Contract Research Organization (CROs) Services Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

  • North America is expected to dominate the growth of the Contract Research Organization (CRO) services market due to its advanced healthcare infrastructure and substantial investment in research and development. The presence of leading pharmaceutical and biotechnology companies in the region drives the demand for CRO services, as these firms increasingly outsource clinical trials and other R&D activities. The robust regulatory framework in North America ensures high standards for clinical research, further boosting the reliance on CROs to navigate complex compliance requirements.
  • North America's dominance in the CRO services market stems from its extensive network of academic and research institutions, which collaborate with CROs to advance medical research. Government initiatives and funding aimed at fostering innovation in the healthcare sector also contribute to this growth. As North America continues to lead in technological advancements and the development of new therapies, the region's demand for comprehensive CRO services will remain strong, cementing its position as the top market for CRO growth globally.

Contract Research Organization (CROs) Services Market Top Active Players:

  • Medpace (U.S.)
  • Laboratory Corporation of America Holdings (U.S.)
  • IQVIA Inc (U.S.)
  • Syneos Health (U.S.)
  • KCR S.A. (U.S.)
  • Thermo Fisher Scientific Inc. (U.S.)
  • Worldwide Clinical Trials (U.S.)
  • Charles River Laboratories (U.S.)
  • Microbiologics (U.S.)
  • Parexel International (MA) Corporation (U.S.)
  • Evotec SE (Germany)
  • ICON plc (Ireland)
  • PSI (Switzerland)
  • Ergomed Group (UK)
  • Novotech (Australia)
  • Bioagile (India)
  • WuXi Biologics (China)
  • Tigermed (China), and Major Active Players

Key Industry Developments in the Contract Research Organization (CROs) Services Market:

  • In February 2024, Charles River Laboratories partnered with Wheeler Bio to expedite the transition from therapeutic discovery to manufacturing for clients. The partnership will allow early-stage biotech enterprises to enter first-in-human clinical trials. Charles River's expertise in antibody discovery, analytics, and safety will be merged with Wheeler's platform, simplifying vendor relationships and connecting preclinical work, clinical manufacturing, and release evaluations.
  • In November 2023, Ichor Life Sciences, a full-service contract research organization (CRO) and longevity biotechnology company announced the launch of Ichor Clinical Trial Services. Ichor Clinical offers a spectrum of customized clinical trial solutions, ranging from individual service options to full CRO assistance.

Contract Research Organization (CROs) Services Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD 79.06 Bn.

Forecast Period 2024-32 CAGR:

9.38%

Market Size in 2032:

USD 177.17 Bn.

Segments Covered:

By Service Type

  • Laboratory Services
  • Clinical Research Services
  • Early-phase Development Services
  • Regulatory Affairs
  • Consulting Services

By Therapeutic Areas

  • Cardiovascular Diseases
  • Oncology
  • Diabetes
  • Respiratory Disorders
  • Central Nervous System Disorders
  • Others

By End-User

  • Academic & Research Institutes
  • Medical Device Companies
  • Pharmaceutical & Biotechnological Companies

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Growing Number of Clinical Trials in Emerging Countries

Key Market Restraints:

  • High Cost of Contract Market Services

Key Opportunities:

  • Rising Technological Advancements

Companies Covered in the report:

  • Thermo Fisher Scientific Inc. (U.S.), Charles River Laboratories (U.S.), Microbiologics (U.S.), ICON plc (Ireland), WuXi Biologics (China), and Other Major Players.

Chapter 1: Introduction

 1.1 Scope and Coverage



Chapter 2:Executive Summary



Chapter 3: Market Landscape

 3.1 Market Dynamics

  3.1.1 Drivers

  3.1.2 Restraints

  3.1.3 Opportunities

  3.1.4 Challenges

 3.2 Market Trend Analysis

 3.3 PESTLE Analysis

 3.4 Porter's Five Forces Analysis

 3.5 Industry Value Chain Analysis

 3.6 Ecosystem

 3.7 Regulatory Landscape

 3.8 Price Trend Analysis

 3.9 Patent Analysis

 3.10 Technology Evolution

 3.11 Investment Pockets

 3.12 Import-Export Analysis



Chapter 4: Contract Research Organization (CROs) Services Market by By Service Type

 4.1 Contract Research Organization (CROs) Services Market Snapshot and Growth Engine

 4.2 Contract Research Organization (CROs) Services Market Overview

 4.3 Laboratory Services

Frequently Asked Questions

What would be the forecast period in the Contract Research Organization (CROs) Services Market research report?

The forecast period in the Contract Research Organization (CROs) Services Market research report is 2024-2032.

Who are the key players in the Contract Research Organization (CROs) Services Market?

Medpace (U.S.), Laboratory Corporation of America Holdings (U.S.), IQVIA Inc (U.S.), Syneos Health (U.S.), KCR S.A. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Worldwide Clinical Trials (U.S.), Charles River Laboratories (U.S.), Microbiologics (U.S.), Parexel International (MA) Corporation (U.S.), Evotec SE (Germany), ICON plc (Ireland), PSI (Switzerland), Ergomed Group (UK), Novotech (Australia), Bioagile (India), WuXi Biologics (China), Tigermed (China), and Major Active Players.

What are the segments of the Contract Research Organization (CROs) Services Market?

The Contract Research Organization (CROs) Services Market is segmented into Service Type, Therapeutic Areas, End-User, and Region. By Service Type, the market is categorized into Laboratory Services, Clinical Research Services, Early-phase Development Services, Regulatory Affairs, and Consulting Services. By Therapeutic Areas, the market is categorized into Cardiovascular Diseases, Oncology, Diabetes, Respiratory Disorders, Central Nervous System Disorders, and Others. By Application, the market is categorized into Academic & Research Institutes, Medical Device Companies, and Pharmaceutical & Biotechnological Companies. By Region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the Contract Research Organization (CROs) Services Market?

Contract Research Organizations (CROs) provide externalized research services to pharmaceutical, biotechnology, and medical device firms. They oversee clinical trials, perform lab services, and ensure regulatory adherence, simplifying the advancement of new drugs and medical devices.

How big is the Contract Research Organization (CROs) Services Market?

Contract Research Organization (CROs) Services Market Size Was Valued at USD 79.06 Billion in 2023, and is Projected to Reach USD 177.17 Billion by 2032, Growing at a CAGR of 9.38% From 2024-2032

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Report ID: 351

Published Date: 2025-03-26

Number of Pages: 240

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Akshay Patil