Global Contract Research Organization (CRO) Market Size To Reach USD 152.29 Billion In 2030 | Emergen Research

(MENAFN- GlobeNewsWire - Nasdaq) Vancouver, Sept. 18, 2023 (GLOBE NEWSWIRE) --

The global Contract Research Organization (CRO) market size was USD 61.21 Billion in 2021 and is expected to register a revenue CAGR of 10.8% during the forecast period, according to latest analysis by Emergen Research. Increasing number of drug development projects across the globe is a key factor driving market revenue growth.

Over the last decade, Pharmaceutical companies have released an increasing number of new drugs each year. These companies are planning on reducing overall expenses, for which they need to reduce research staff and save costs on in-house R&D infrastructure. Outsourcing research work to CROs can help to increase success rate and accelerate drug discovery, resulting in higher profits. In addition, increasing investments and focus on healthcare R&D by major healthcare companies and development of novel drugs and therapies are driving contract research outsourcing market revenue growth. Various companies are now engaging in merger and acquisition activities to increase their market presence. On July 5, 2022, Eurofins Discovery, a U.S based drug discovery company acquired contract research organization DiscoveryBioMed. This acquisition contributed to Eurofins Discovery's aim of offering the most comprehensive and high-quality array of drug discovery services and products.

Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @

Emerging new technologies have potential to change clinical trials in the long run. CROs are now beginning to consider novel technologies, such as Artificial Intelligence (AI) and Machine Learning, in their research techniques. These technologies have enormous potential to increase clinical research & development productivity. They are incorporating more of these technologies and will become less reliant on labor as technology advances. Contract research organizations are increasingly attempting to develop digital platforms that are plug-and-play with existing systems. Growing adoption of advanced technologies is expected to drive revenue growth of the market during the forecast period.

Scope of Research

Report Details Outcome
Market Size in 2021 USD 61.21 Billion
CAGR (2022–2030) 24.7%
Revenue Forecast to 2030 USD 152.29 Billion
Base Year for Estimation 2021
Historical Data 2019–2020
Forecast Period 2022–2030
Quantitative Units Revenue in USD Billion and CAGR in % from 2022 to 2030
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered Service type, application, end-use, and region
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country Scope U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies Profiled IQVIA Inc., PPD, Inc., ICON Plc., Syneos Health Inc., Parexel International, Medpace Holdings, Inc., Charles River Laboratories, Inc., PRA Health Sciences, Inc., WuXi AppTec Group, Labcorp Drug Development, Kiecana Clinical Research (KCR), ClinTec International, Advanced Clinical, Pharm-Olam, LLC., and WuXi Biologics
Customization Scope 10 hours of free customization and expert consultation

Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @

Major Companies and Competitive Landscape

The global contract research organization market is fairly fragmented, with numerous large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective contract research solutions. Some of the major companies included in the global contract research organization market report are:

  • IQVIA Inc.
  • PPD, Inc.
  • ICON Plc
  • Syneos Health Inc.
  • Parexel International
  • Medpace Holdings, Inc.
  • Charles River Laboratories, Inc.
  • PRA Health Sciences, Inc.
  • WuXi AppTec Group
  • Labcorp Drug Development
  • Kiecana Clinical Research (KCR)
  • ClinTec International
  • Advanced Clinical
  • Pharm-Olam, LLC.
  • WuXi Biologics.

Strategic Development

  • On 02 July 2021, Parexel, a U.S based global clinical research organization announced a merger agreement, under which the company will be acquired by EQT Private Equity and Goldman Sachs for USD 8.5 Billion. This acquisition will fuel growth and business expansion of the company.
  • On 05 April 2021, IQVIA, a U.S based clinical research service provider acquired remaining 40% stake of Q2 Solutions from diagnostic information services provider Quest Diagnostics. Wide range of services and experience of the acquired company will be beneficial to IQVIA. Before this deal, IQVIA held a 60% majority stake in Q2, with Quest Diagnostics holding a 40% minority stake. Q2 was formed as a joint venture in 2015.

Direct Order Can Be Placed Through This Link [Exclusive Copy] @

Some Key Highlights from the Report

  • The early phase development services segment revenue is expected to increase at a steady rate over the forecast period due to growing demand for CROs in early phase clinical research. Early phase development provides various services such as protocol writing, phase 1 focused data management, scientific consultation, clinical monitoring, medical writing, and many more.
  • The infectious diseases segment is expected to register a steady revenue growth rate over the forecast period due to high incidence of infectious diseases such as tuberculosis, meningitis, and flu. Major organizations are spending a large amount on research into causes and symptoms of infectious diseases, as well as in development of medications to treat viral and bacterial infections. They are mainly outsourcing research activities, which creates high demand for CROs.
  • The Asia Pacific market is expected to register a significantly fast revenue growth rate during the forecast period. This is due to rising development of pharmaceutical infrastructure and growing number of clinical trials in countries across the region, especially in China and India. Rising demand for CROs prompts companies to expand their business in this region. For instance, in May 2022, TCG Lifesciences, an India-based contract research organization announced to expand its operation in Pune to take 100,000 square feet of space for a new discovery services center.
  • On 08 December 2021, Thermo Fisher, a U.S. based scientific instruments manufacturer completed acquisition of leading contract research outsourcing firm PPD, Inc., for USD 17.4 Billion. PPD Inc. will be integrated into Thermo Fisher's laboratory products and services segment. PPD will bring strong laboratory service, drug development platform, excellent patient recruitment capabilities, and reputation for quality services, to improve Thermo Fisher's offerings.

Browse Full Report Description + Research Methodology + Table of Content + Infographics@

Emergen Research has segmented the global contract research organization market based on service type, application, end-use, and region:

  • Service Type Outlook (Revenue, USD Billion; 2019-2030)
    • Clinical Research Services
    • Phase I
    • Phase II
    • Phase III
    • Phase IV
    • Early Phase Development Services
    • Chemistry, Manufacturing and Controls Services
    • Preclinical Services
    • Pharmacokinetics/ Pharmacodynamics Services
    • Toxicology Testing Services
    • Other Preclinical Services
    • Discovery Studies
    • Laboratory Services
    • Analytical Testing Services
    • Bioanalytical Testing Services
    • Consulting Services
    • Data Management Services
    • Database Design
    • Data Entry and Validation
    • Database Maintenance and Archival
    • Others
  • Application Outlook (Revenue, USD Billion; 2019-2030)
    • Oncology
    • Infectious Diseases
    • Immunological Disorders
    • Metabolic Disorders
    • Respiratory Diseases
    • Cardiovascular Diseases
    • Neurological Disorders
    • Others
  • End-Use Outlook (Revenue, USD Billion; 2019-2030)
    • Medical Device Companies
    • Biopharmaceutical Companies
    • Academic and Research Institute
    • Others
  • Regional Outlook (Revenue, USD Billion; 2019–2030)
    • North America
    • U.S.
    • Canada
    • Mexico
    • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Benelux
    • Rest of Europe
    • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
    • Latin America
    • Brazil
    • Rest of LATAM
    • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Turkey
    • Rest of Middle East & Africa

Curated Reports You Shouldn't Miss: Dive In Now!

Cancer Immunotherapy Market , By Technology (Monoclonal Antibodies, Vaccines, Immunomodulators), By Application (Lung Cancer, Breast Cancer, Ovarian Cancer, Blood Cancer, Others), By End-Use, and By Region Forecast to 2030

Clinical Decision Support System Market , By Type (Standalone CDSS, Integrated EHR with CDSS), By Application (Drug Allergy Alerts, Clinical Guidelines, Drug-Drug Interactions, Clinical Reminders), By Delivery Mode, and By Region Forecast to 2030

Enzymes Market Size, Share, Trends, By Source (Animals, Microorganisms, Plants), By Product (Proteases, Carbohydrase, Polymerases & Nucleases, Lipases), By Application (Specialty Enzymes, Industrial Enzymes), Forecasts to 2027

In-Vitro Diagnostics Market Size, Share, Trends, By Product (Reagents & Kits, Instruments, Data Management Software, Services), By Devices (Reusable IVD Devices, Disposable IVD Devices), By Application, By Technique, By End-use, and By Region Forecast to 2028

Recurrent Atrial Fibrillation Market Analysis, By Product (Devices, Drugs), By Application (EP Ablation, Diagnostic, Surgical), By End-Use (Ambulatory Surgical Centers, Cardiac Centers, Hospitals), Forecasts to 2027

Active Psoriatic Arthritis Market Analysis, By Product (Prescriptions & OTC), By Drug Class (Biologics, Non-Steroidal Anti-Inflammatory Drugs, Non-Biologic Disease Modifying Anti-Rheumatic Drugs, Other), By Route of Administration (Injectable, Oral, Topical), Forecasts to 2027

Diabetic Ketoacidosis Market Analysis, By Treatment Type (Fluid Replacement, Electrolyte Replacement, Insulin Therapy, Intermediate-Acting Insulin, Long-Acting Insulin), By End Use (Hospitals, Ambulatory Care Center, Specialty Clinics) Forecasts To 2027

Chronic Rhinosinusitis Market Analysis, By Product (Steroids, Nasal Irrigation, Surgical Based, Antibiotics, Macrolide Therapy, Antifungal Therapy), By Disease (Anatomical Differences, Nasal Tumors, Mucosal Edema, Non-Allergic Rhinitis, Immune Deficiency, Other) By Distribution Channel, Forecasts To 2027

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.

Contact Us:

Eric Lee

Corporate Sales Specialist

Emergen Research | Web:

Direct Line: +1 (604) 757-9756


Explore Our Japanese Version: Contract Research Organization (CRO) Market

Explore Our Blogs and Insights Section:

Read our Press Release @

Tags Contract Research Organization market research market report healthcare Metabolic Disorders Related Links
  • pharmacovigilance market
  • next generation sequencing sample preparation market
  • minimally invasive biopsy technologies market
  • chronic rhinosinusitis market
  • diabetic ketoacidosis market
  • active psoriatic arthritis market
  • recurrent atrial fibrillation market
  • in-vitro diagnostics market
  • enzymes market
  • clinical decision support systems market
  • cancer immunotherapy market
  • blockchain in healthcare market
  • biologics market
  • alternative proteins market
  • advanced wound care market
  • mhealth market
  • transcatheter mitral valve implantation market
  • pulse oximeter market
  • pediatric psoriasis market
  • follicular lymphoma treatment market


GlobeNewsWire - Nasdaq

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.