Healthcare Contract Research Organization Market Size, Share & Trends Analysis Report By Type, By Service, By End-use, By Region And Segment Forecasts From 2022 To 2030

Report ID: MN17617124  |  Published: November 2022  |  No of Pages: 180
Format: Electronic (PDF)  |  Industry: Healthcare IT

The global healthcare contract research organization market size is estimated to reach USD 74.7 billion by 2030, registering a CAGR of 6.5% from 2022 to 2030. Factors including the upsurge in investments in R&D activities, growing preference for outsourcing services owing to cost & time constraints, and the expiration of patents in the healthcare arena are significantly driving the market growth. The collaborations in contract research outsourcing provide state-of-the-art services that are widely preferred by government organizations, thereby supplementing the market demand.

Based on type, the clinical service segment held the largest market share, accounting for over 76.4% in 2021. The growth is attributable to the increase in the number of biologics, current epidemic events that steer the need for new treatments, the rising demand for orphan drugs and personalized medicines, and the proliferation of technological advancements. Furthermore, factors including technological progress and globalization of clinical trials are further expected to boost market growth. Phase III clinical trials outsourcing to healthcare CROs dominated the market in 2021 owing to the fact that it is among the priciest phases of a clinical trial. Around 90% of the costs occur in the drug stem clinical development from this phase.

Based on service, the clinical monitoring segment accounted for the largest market share of over 20.6% in 2021. The growing number of clinical trials and the rising need for monitoring the studies are generating immense demand for these services. Over the past decade, clinical research is being incrementally outsourced to the CROs owing to the increasing need for attaining technical expertise and cost-effectiveness. The emergence of advanced technologies including real-time data acquisition devices and smart analytics is anticipated to enhance clinical monitoring data analysis in the healthcare industry. Real-time data acquisition associated with drug toxicity supports the early detection of trial errors and allows timely alterations including trial re-designing or termination, thereby fueling the segment growth.

Asia Pacific dominated the global healthcare CRO market and accounted for the largest revenue share of around 42.7% in 2021. The region is also expected to expand at the fastest pace during the forecast period. This can be attributable to the increasing incidences of chronic health conditions, the existence of a diverse population, and the development of favorable regulations as per recognized standards. Furthermore, the favorable initiatives undertaken by public organizations to lessen the time for drug approval are also supplementing the market growth. For instance, India’s Department of Pharmaceuticals enlisted new rules in October 2021 to lessen the time needed for the approval of advanced products by over 50% in two years, in order to enhance the R&D activities in the country. These initiatives are projected to further fuel regional growth.

The global market players enter into strategic collaborations for promoting their services at an international level. For instance, IQVIA collaborated with Servier, an international pharmaceutical company, in December 2020, to redevelop their R&D clinical development processes. Besides, these players are innovating their offerings by implementing virtual connectivity during the pandemic. Such developments are opportunistic for the growth of the market.

Healthcare Contract Research Organization Market Report Key Takeaways

  • Based on type, the clinical healthcare CRO type dominated the market in 2021, accounting for a market share of over 76.4%. The segment encompasses four intricate phases, comprising human subjects. The escalating demand for new treatments has further contributed to the growth of the segment
  • Based on service, the clinical monitoring segment held the largest market share in 2021
  • Asia Pacific dominated the global healthcare contract research organization market and accounted for the largest revenue share of around 42.7% in 2021. This can be attributable to the rise in incidences of chronic health conditions, the existence of a diverse population, and the development of favorable regulations as per recognized standards
  • Countries including India, China, and Japan are anticipated to witness incredible growth in the market during the forecast period owing to the increasing prevalence of diseases in these countries

 

Healthcare Contract Research Organization Market Segments

  • Healthcare Contract Research Organization Type Outlook (Revenue, USD Million, 2018 - 2030)
    • Drug Discovery
      • Target Validation
      • Lead Identification
      • Lead Optimization
    • Pre-Clinical
    • Clinical
      • Phase I Trial Services
      • Phase II Trial Services
      • Phase III Trial Services
      • Phase IV Trial Services
  • Healthcare Contract Research Organization Service Outlook (Revenue, USD Million, 2018 - 2030)
    • Project Management/Clinical Supply Management
    • Data Management
    • Regulatory/Medical Affairs
    • Medical Writing
    • Clinical Monitoring
    • Quality Management/ Assurance
    • Bio-statistics
    • Investigator Payments
    • Laboratory
    • Patient and site Recruitment
    • Technology
    • Others
  • Healthcare Contract Research Organization Application Outlook (Revenue, USD Million, 2018 - 2030)
    • Oncology
    • Cardiovascular
    • Autoimmune/Inflammation
    • Central nervous system (CNS)
    • Dermatology
    • Infectious diseases
    • Diabetes
    • Pain
    • Others
  • Healthcare Contract Research Organization End-use Outlook (Revenue, USD Million, 2018 - 2030)
    • Pharmaceutical & Biopharmaceutical Companies
    • Medical Device Companies
    • Others
  • Healthcare Contract Research Organization Regional Outlook (Revenue, USD Million, 2018 - 2030)
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Spain
      • Italy
      • Switzerland
      • Belgium
      • Netherlands
      • Austria
    • Asia Pacific
      • India
      • China
      • Japan
      • Korea (Republic)
      • Taiwan
      • Australia
      • Indonesia
      • Malaysia
      • Singapore
      • Thailand
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
      • Chile
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
      • Iran
      • Israel
  • List of Key Players in Healthcare Contract Research Organization Market
    • ICON Plc
    • Charles River Laboratories (CRL)
    • Syneos Health
    • IQVIA HOLDINGS INC.
    • GVK Biosciences Private Limited
    • Laboratory Corporation of America Holdings
    • Thermo Fisher Scientific Inc.
    • PAREXEL INTERNATIONAL CORPORATION
    • Medidata Solutions, Inc.
    • 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
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