As per this study, the Global Contract Research Organization Market was valued USD 69.26 BN (by revenue) in 2022 and is anticipated to reach USD 170.26 BN by 2030 with a CAGR of 11.9%.
Contract research organization (CRO) is an organization that provides contract-based research for the pharmaceutical, biotechnology industries. It generally provides biological assays, clinical & preclinical research, and clinical trials. Apart from the study, it also provides clinical data management, medicine & disease coding, data management and even post-marketing research activities.
Market Dynamics
The contract research organization market is majorly driven by increasing funding by the government on R&D and rise in clinical trials. The growing prevalence of autoimmune diseases, genetic disorders, and other fatal diseases are driving the demand for CRO. Rising mortality rate due to untreatable medical conditions has created high demand for the outsourcing of R&D activities. This, in turn, is pushing the CRO market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of contract research organization.
Market Segmentation
The broad contract research organization market has been sub-grouped into product and end-user. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Type
By Clinical Research Services
By Early Phase Development Services
By Laboratory Services
By Therapeutic Area
By End User
Regional Analysis
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for contract research organization in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Contract Research Organization Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the contract research organization market include IQVIA,Laboratory Corporation Of America Holdings (LABCORP),PPD Inc (A Part Of Thermo Fisher Scientific, Inc.),Syneos Health Inc1),Wuxi Apptec Co., Ltd.,Charles River Laboratories International Inc,Parexfi International Corporation,Pharmaron Bewing Co.Ltd.,Icon Plc,Medpace Holdings, Inc,Sgs Sa,Frontage Holdings Corporation,Psi Cro Ag,Bioagile Therapeutics Pvt Ltd,Firma Clinical Research, Llc,Acculab Life Sciences,Novotechhalti Holdings,KCR (Formerly Kiecana Clinical Research),Linical Co Ltd,Advanced Clinical,Other Players,1azelix LLC,Clinical Trial Service BV,Pepora Healthcare Pvt. Ltd.,Worldwide Clinical Trials Holdings Inc, Ciclinical Trial And Consulting Services Inc. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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