USD 40 Bn growth opportunity in Contract Research Organization (CRO) Market | Driven by the growth of the biopharmaceutical industry | Technavio

NEW YORK, May 13, 2022 /PRNewswire/ — The “Contract Research Organization (CRO) Market by End-user and Geography – Forecast and Analysis 2022-2026” report has been added to Technavio’s latest offering. The 120-pages report segments the market by end-user (pharmaceutical and biopharmaceutical companies, medical device companies, and academic institutes) and geography (North America, Europe, APAC, and Rest of World (ROW)). The report identifies Azelix LLC, BioAgile Therapeutics Pvt. Ltd, Charles River Laboratories International Inc., Clinical Trial Service BV, Eurofins Scientific SE, Firma Clinical Research LLC, Frontage Holdings Corp., GENETICIST Inc., Guires Ltd., ICON plc, IQVIA Holdings Inc., Laboratory Corp. of America Holdings, Linical Co. Ltd., Medpace Holdings Inc., PAREXEL International Corp., Pharmaron Beijing Co. Ltd., PSI CRO AG, Syneos Health Inc., Thermo Fisher Scientific Inc., and WuXi AppTec Co. Ltd. as dominant players in the market.

Technavio expects the global contract research organization market size to increase by USD 40 billion between 2021 and 2026, expanding at a CAGR of 10.06% during the forecast period.

Download Our Report Sample for highlights on the market size, growth momentum, and other important statistics.

The market is fragmented and is highly localized, with many vendors catering to each logistics sub-segment. Many vendors are entering into mergers and acquiring other companies, which is leading to consolidation in the market. Besides, the rising competition in the market is driving vendors to gain a competitive edge by constantly adapting to the changing marketplace.

Although the growth of the biopharmaceutical industry, increase in research and development expenditure globally will spur industry statistics of CROs, and the regulation of clinical trials to propel the growth of contract research organizations will offer immense growth opportunities, intellectual property issues, shortage of skilled professionals, and capacity utilization and constraints will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

For more insights into the vendor landscape, View Our Sample Report.

Contract Research Organization (CRO) Market 2022-2026: Segmentation

The global contract research organization (CRO) market is segmented as below:

  • End-user
    • Pharmaceutical and Biopharmaceutical Companies
    • Medical Device Companies
    • Academic Institutes

Pharmaceutical and biopharmaceutical companies have the highest share in the global CRO market. The increasing outsourcing of R and D activities, including early-stage research programs, to third-party organizations such as biotech startups and private contract research organizations is driving the growth of the market in the segment.

  • Geography
    • North America
    • Europe
    • APAC
    • Rest Of World (ROW)

North America accounted for the largest share of the global CRO market in 2021. The presence of a large number of prominent CROs is driving the growth of the regional market. In addition, the availability of well-established healthcare infrastructure in the region is contributing to the growth of the market.

Contract Research Organization (CRO) Market 2022-2026: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our contract research organization (CRO) market report covers the following areas:

We provide a detailed analysis of around 25 vendors operating in the contract research organization (CRO) market. Backed with competitive intelligence and benchmarking, our research report on the contract research organization (CRO) market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

Contract Research Organization (CRO) Market 2022-2026: Key Highlights

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will assist contract research organization (CRO) market growth during the next five years
  • Estimation of the contract research organization (CRO) market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the contract research organization (CRO) market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of contract research organization (CRO) market vendors

Related Reports:

Veterinary CRO Market by Type and Geography – Forecast and Analysis 2022-2026

Medical Device Manufacturing Outsourcing Market by Product, Medical Device Regulatory Classification, and Geography – Forecast and Analysis 2021-2025

Contract Research Organization (CRO) Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 10.06%

Market growth 2022-2026

USD 40.00 billion

Market structure

Fragmented

YoY growth (%)

8.8

Regional analysis

North America, Europe, APAC, and Rest of World (ROW)

Performing market contribution

North America at 41%

Key consumer countries

US, Canada, China, Germany, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Azelix LLC, BioAgile Therapeutics Pvt. Ltd, Charles River Laboratories International Inc., Clinical Trial Service BV, Eurofins Scientific SE, Firma Clinical Research LLC, Frontage Holdings Corp., GENETICIST Inc., Guires Ltd., ICON plc, IQVIA Holdings Inc., Laboratory Corp. of America Holdings, Linical Co. Ltd., Medpace Holdings Inc., PAREXEL International Corp., Pharmaron Beijing Co. Ltd., PSI CRO AG, Syneos Health Inc., Thermo Fisher Scientific Inc., and WuXi AppTec Co. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table Of Contents :

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis – Comparison between2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by End-user

  • 5.1 Market segments
    • Exhibit 24: Chart on End-user – Market share 2021-2026 (%)
    • Exhibit 25: Data Table on End-user – Market share 2021-2026 (%)
  • 5.2 Comparison by End-user
    • Exhibit 26: Chart on Comparison by End-user
    • Exhibit 27: Data Table on Comparison by End-user
  • 5.3 Pharmaceutical and biopharmaceutical companies – Market size and forecast 2021-2026
    • Exhibit 28: Chart on Pharmaceutical and biopharmaceutical companies – Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on Pharmaceutical and biopharmaceutical companies – Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on Pharmaceutical and biopharmaceutical companies – Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Pharmaceutical and biopharmaceutical companies – Year-over-year growth 2021-2026 (%)
  • 5.4 Medical device companies – Market size and forecast 2021-2026
    • Exhibit 32: Chart on Medical device companies – Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on Medical device companies – Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on Medical device companies – Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Medical device companies – Year-over-year growth 2021-2026 (%)
  • 5.5 Academic institutes – Market size and forecast 2021-2026
    • Exhibit 36: Chart on Academic institutes – Market size and forecast 2021-2026 ($ million)
    • Exhibit 37: Data Table on Academic institutes – Market size and forecast 2021-2026 ($ million)
    • Exhibit 38: Chart on Academic institutes – Year-over-year growth 2021-2026 (%)
    • Exhibit 39: Data Table on Academic institutes – Year-over-year growth 2021-2026 (%)
  • 5.6 Market opportunity by End-user
    • Exhibit 40: Market opportunity by End-user ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 44: Chart on Geographic comparison
    • Exhibit 45: Data Table on Geographic comparison
  • 7.3 North America – Market size and forecast 2021-2026
    • Exhibit 46: Chart on North America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 47: Data Table on North America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 48: Chart on North America – Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on North America – Year-over-year growth 2021-2026 (%)
  • 7.4 Europe – Market size and forecast 2021-2026
    • Exhibit 50: Chart on Europe – Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on Europe – Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on Europe – Year-over-year growth 2021-2026 (%)
  • 7.5 APAC – Market size and forecast 2021-2026
    • Exhibit 54: Chart on APAC – Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on APAC – Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on APAC – Year-over-year growth 2021-2026 (%)
  • 7.6 Rest of World (ROW) – Market size and forecast 2021-2026
    • Exhibit 58: Chart on Rest of World (ROW) – Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on Rest of World (ROW) – Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on Rest of World (ROW) – Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on Rest of World (ROW) – Year-over-year growth 2021-2026 (%)
  • 7.7 US – Market size and forecast 2021-2026
    • Exhibit 62: Chart on US – Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on US – Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on US – Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on US – Year-over-year growth 2021-2026 (%)
  • 7.8 China – Market size and forecast 2021-2026
    • Exhibit 66: Chart on China – Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on China – Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on China – Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on China – Year-over-year growth 2021-2026 (%)
  • 7.9 Germany – Market size and forecast 2021-2026
    • Exhibit 70: Chart on Germany – Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on Germany – Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on Germany – Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on Germany – Year-over-year growth 2021-2026 (%)
  • 7.10 Canada – Market size and forecast 2021-2026
    • Exhibit 74: Chart on Canada – Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on Canada – Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on Canada – Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on Canada – Year-over-year growth 2021-2026 (%)
  • 7.11 UK – Market size and forecast 2021-2026
    • Exhibit 78: Chart on UK – Market size and forecast 2021-2026 ($ million)
    • Exhibit 79: Data Table on UK – Market size and forecast 2021-2026 ($ million)
    • Exhibit 80: Chart on UK – Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on UK – Year-over-year growth 2021-2026 (%)
  • 7.12 Market opportunity by geography
    • Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 85: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 86: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 87: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 88: Matrix on vendor position and classification
  • 10.3 Charles River Laboratories International Inc.
    • Exhibit 89: Charles River Laboratories International Inc. – Overview
    • Exhibit 90: Charles River Laboratories International Inc. – Business segments
    • Exhibit 91: Charles River Laboratories International Inc. – Key news
    • Exhibit 92: Charles River Laboratories International Inc. – Key offerings
    • Exhibit 93: Charles River Laboratories International Inc. – Segment focus
  • 10.4 Eurofins Scientific SE
    • Exhibit 94: Eurofins Scientific SE – Overview
    • Exhibit 95: Eurofins Scientific SE – Business segments
    • Exhibit 96: Eurofins Scientific SE – Key news
    • Exhibit 97: Eurofins Scientific SE – Key offerings
    • Exhibit 98: Eurofins Scientific SE – Segment focus
  • 10.5 ICON plc
    • Exhibit 99: ICON plc – Overview
    • Exhibit 100: ICON plc – Product / Service
    • Exhibit 101: ICON plc – Key offerings
  • 10.6 IQVIA Holdings Inc.
    • Exhibit 102: IQVIA Holdings Inc. – Overview
    • Exhibit 103: IQVIA Holdings Inc. – Business segments
    • Exhibit 104: IQVIA Holdings Inc. – Key news
    • Exhibit 105: IQVIA Holdings Inc. – Key offerings
    • Exhibit 106: IQVIA Holdings Inc. – Segment focus
  • 10.7 Laboratory Corp. of America Holdings
    • Exhibit 107: Laboratory Corp. of America Holdings – Overview
    • Exhibit 108: Laboratory Corp. of America Holdings – Business segments
    • Exhibit 109: Laboratory Corp. of America Holdings – Key news
    • Exhibit 110: Laboratory Corp. of America Holdings – Key offerings
    • Exhibit 111: Laboratory Corp. of America Holdings – Segment focus
  • 10.8 Medpace Holdings Inc.
    • Exhibit 112: Medpace Holdings Inc. – Overview
    • Exhibit 113: Medpace Holdings Inc. – Product / Service
    • Exhibit 114: Medpace Holdings Inc. – Key offerings
  • 10.9 PAREXEL International Corp.
    • Exhibit 115: PAREXEL International Corp. – Overview
    • Exhibit 116: PAREXEL International Corp. – Product / Service
    • Exhibit 117: PAREXEL International Corp. – Key offerings
  • 10.10 Syneos Health Inc.
    • Exhibit 118: Syneos Health Inc. – Overview
    • Exhibit 119: Syneos Health Inc. – Business segments
    • Exhibit 120: Syneos Health Inc. – Key offerings
    • Exhibit 121: Syneos Health Inc. – Segment focus
  • 10.11 Thermo Fisher Scientific Inc.
    • Exhibit 122: Thermo Fisher Scientific Inc. – Overview
    • Exhibit 123: Thermo Fisher Scientific Inc. – Business segments
    • Exhibit 124: Thermo Fisher Scientific Inc. – Key news
    • Exhibit 125: Thermo Fisher Scientific Inc. – Key offerings
    • Exhibit 126: Thermo Fisher Scientific Inc. – Segment focus
  • 10.12 WuXi AppTec Co. Ltd.
    • Exhibit 127: WuXi AppTec Co. Ltd. – Overview
    • Exhibit 128: WuXi AppTec Co. Ltd. – Business segments
    • Exhibit 129: WuXi AppTec Co. Ltd. – Key offerings
    • Exhibit 130: WuXi AppTec Co. Ltd. – Segment focus

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 131: Inclusions checklist
    • Exhibit 132: Exclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 133: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 134: Research methodology
    • Exhibit 135: Validation techniques employed for market sizing
    • Exhibit 136: Information sources
  • 11.5 List of abbreviations
    • Exhibit 137: List of abbreviations
  • growth due to the increasing number of tests for infectious and chronic diseases: The incidence of infectious and chronic diseases has increased over the past decade. The outbreak of the COVID-19 pandemic in 2020 has increased the demand for laboratory testing for COVID-19 across the world. An increase in demand for laboratory testing for infectious diseases, such as COVID-19 and chronic diseases, will be a driver for the life sciences tools and services industry in the future. The growth of the tools and services industry will continue to be strong in emerging markets such as China and India. Developed economies such as Japan and the EU will exhibit moderate growth rates.
  • product development to decrease prices: As the pricing pressure increases, life sciences tools manufacturers will have to rethink product development processes. A value first product design philosophy can help control costs and deliver what customers value the most.

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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USD 40 Bn growth opportunity in Contract Research Organization (CRO) Market | Driven by the growth of the biopharmaceutical industry | Technavio WeeklyReviewer

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