NEW YORK, Oct. 19, 2021 /PRNewswire/ -- Zion Market Research has published a new market research report titled "Contract Research Organization Market by Service Type (Clinical Research Services, Early-Phase Development Services, Laboratory Services, and Consulting Services), by Therapeutic Area (Oncology, Infectious Diseases, Central Nervous System (CNS) Disorders, Immunological Disorders, Cardiovascular Diseases, Respiratory Disorders, Diabetes, and Others), and by End-User (Pharmaceutical & Biopharmaceutical Companies, Medical Device Companies, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, by 2025". According to the report, the global contract research organization market was valued at approximately USD 34.12 billion in 2018 and is expected to generate around USD 55.16 billion by 2025, at a CAGR of around 7.10% between 2019 and 2025.
Contract research organizations (CRO's) have changed the way research is conducted in companies. CROs offer a wide variety of services these days, such as clinical trials, biopharmaceutical development, service type commercialization, assay development, drug discovery activities, etc. The major factors that are anticipated to drive the contract research organization market in the upcoming years include an increasing number of clinical trials and growing R&D expenditure.
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The global contract research organization market is segmented based on service type, therapeutic area, and end-user. By service type, the market is segmented into contact clinical research services, laboratory services, early-phase development services, and consulting services. The clinical research services segment is further divided into phase I, phase II, phase III, and phase IV clinical research services. The early-phase development services segment is further divided into discovery studies, chemistry, manufacturing, and control, preclinical services, pharmacokinetics/pharmacodynamics, toxicology testing services, and other preclinical services. The laboratory services market is divided into stability testing, analytical testing services, batch-release testing, physical characterization, bio-analytical testing services, raw material testing, and other analytical testing services. Clinical research services segment is likely to hold a major share of the contract research organization market globally in the future, owing to the increased demand for clinical research.
The therapeutic area segment includes infectious diseases, oncology, immunological disorders, cardiovascular diseases, central nervous system disorders, diabetes, respiratory disorders, and others. Oncology segment held the major share of the global contract research organization market in 2017, owing to technological advancements in treatment therapies, growth in the incidences and prevalence of cancer, and the rise in R&D activities for cancer treatment. By end-user, this market includes medical device companies, pharmaceutical and biopharmaceutical companies, and others. The pharmaceutical and biopharmaceutical companies held largest market share in 2017 owing to the reduced time duration and the rise in the outsourcing of early phase development services of laboratory and clinical testing services by Pharma and biotech companies to raise their profit margins.
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By region, North America dominated the contract research organization market in 2018, owing to the high standards of quality maintained by the pharmaceutical industry, the rapid growth of the Biosimilars and biological market, increased government expenditure related to R&D expenses in healthcare, rising demand for outsourcing, and emerging biopharmaceutical industry. Europe is likely to be the second leading contract research organization market globally in the years ahead, owing to the increasing investments made by the key players in R&D activities and continuous innovation in medical technology. The Asia Pacific region has showcased significant growth potential in this market, due to the increasing prevalence of diseases and the high availability of subjects for preclinical and clinical trials.
Some leading players of the global contract research organization market include Laboratory Corporation of America Holdings, LLC, PAREXEL International Corporation, Quintiles Transnational Holdings, Inc., ICON Plc, InVentiv Health, Inc., Pharmaceutical Service Type Development, Charles River Laboratories International, Inc., Wuxi Pharmatech (Cayman), Inc., INC Research Holdings, Inc., and PRA Health Sciences, Inc.
This report segments the global contract research organization market into:
Global Contract Research Organization Market: Service Type Analysis
Clinical Research Services
- Phase I Clinical Research Services
- Phase II Clinical Research Services
- Phase III Clinical Research Services
- Phase IV Clinical Research Services
Early-Phase Development Services
- Discovery Studies
- Chemistry, Manufacturing, and Control (CMC)
- Preclinical Services
- Pharmacokinetics/Pharmacodynamics (PK/PD)
- Toxicology Testing Services
- Other Preclinical Services
Laboratory Services
- Bio-Analytical Testing Services
- Analytical Testing Services
- Physical Characterization
- Raw Material Testing
- Batch-Release Testing
- Stability Testing
- Other Analytical Testing Services
Consulting Services
Global Contract Research Organization Market: Therapeutic Area Analysis
- Oncology
- Infectious Diseases
- Central Nervous System (CNS) Disorders
- Immunological Disorders
- Cardiovascular Diseases
- Respiratory Disorders
- Diabetes
- Others
Global Contract Research Organization Market: End-User Analysis
- Pharmaceutical and Biopharmaceutical Companies
- Medical Device Companies
- Others
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By Region
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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