Contract Research Organization Services Market, By Service Type, Research Type and Client Type - Growth, Future Prospects and Competitive Analysis, 2016 - 2023, the global contract research organization (CRO) services market was valued at US$ 29.5 Mn in 2017, and is expected to reach US$ 76.6 Mn by 2025, expanding at a CAGR of 7.1% from 2017 to 2025.
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Market Insights
The global CRO market has witnessed a significant rise in strategic mergers and collaborations among CRO vendors. Such growth strategies are focused at augmenting their service portfolio or develop their niche in select countries. Large scale pharmaceutical companies in countries such as North America, Europe and Asia Pacific are increasingly indulging in CRO activities due to availability of large pool of trial eligible patients, desire to reduce costs and growing need to focus on core competencies. With further expansion and consolidation activities taking place in the CRO industry, the strong growth of the global CRO services market is anticipated to continue through the forecast.
The demand for CRO services is anticipated to remain steady in early stage development phases such as clinical pharmacology and preclinical trials. Early stage development phases have a potential market opportunity of over US$ 5.5 Bn. The moderate growth of this space is due to the limited pricing power since several drug sponsors still prefer to outsource their late-stage pipelines only. However, this scenario is anticipated in the later stage of forecast period with a strong possibility of containment of service prices. On the other hand, late-stage development services have the largest market share and will experience the fastest growth during the forecast period. The of late-stage development services is anticipated to continue through 2023 due to prime influencers such as greater interest of pharma companies in investigational drugs in late-stage trials that experience the least project delays and cancellations, and greater volumes that profit central laboratory operations.
Considering the competition, this market is characterized by presence of over 1000 market players, of which small-scale players are the largest in number. The top ten companies currently capture over 50% of the global CRO services market. However, to tackle such fierce competition, is observed that lately the mid-sized and small-sized corporations are adopting growth strategies such as consolidation activities and entering in long-term contracts with client companies. In addition, emerging CROs are rapidly attracting limelight, as sourcing of patients, emerging need for conducting home trials in large countries such as China and growing cost friendly contracts.
Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Phase III – Expert Panel Review
1.3.4 Assumptions
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Phase III – Expert Panel Review
1.3.4 Assumptions
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Chapter 2 Executive Summary
2.1 Global CRO Services Market Portraiture
2.1 Global CRO Services Market Portraiture
Chapter 3 CRO Services Market: Dynamics and Future Outlook
3.1 Global CRO Services Market Overview
3.1.1 Market Dynamics
3.1.2 Drivers
3.1.2.1 Driver 1
3.1.2.2 Driver 2
3.1.3 Challenges
3.1.3.1 Challenge 1
3.1.3.1 Challenge 2
3.1.4 Opportunities
3.1.4.1 Opportunity 1
3.2 Attractive Investment Proposition
3.3 Competitive Landscape of Key Players in CRO Services Market
3.1 Global CRO Services Market Overview
3.1.1 Market Dynamics
3.1.2 Drivers
3.1.2.1 Driver 1
3.1.2.2 Driver 2
3.1.3 Challenges
3.1.3.1 Challenge 1
3.1.3.1 Challenge 2
3.1.4 Opportunities
3.1.4.1 Opportunity 1
3.2 Attractive Investment Proposition
3.3 Competitive Landscape of Key Players in CRO Services Market
Chapter 4 Global CRO Services Market, by Service Type, 2015 - 2025
4.1 Introduction
4.2 Clinical Trial Services
4.2.1 Drug Discovery
4.2.2 Precilinical Trials
4.2.3 Phase I Trials
4.2.4 Phase II Trials
4.2.5 Phase III Trials
4.2.6 Phase IV (Post Market Surveillance) Trials
4.3 Medical Writing Services
4.4 Regulatory Services
4.5 Clinical Data Management Services
4.6 Others
4.1 Introduction
4.2 Clinical Trial Services
4.2.1 Drug Discovery
4.2.2 Precilinical Trials
4.2.3 Phase I Trials
4.2.4 Phase II Trials
4.2.5 Phase III Trials
4.2.6 Phase IV (Post Market Surveillance) Trials
4.3 Medical Writing Services
4.4 Regulatory Services
4.5 Clinical Data Management Services
4.6 Others
Chapter 5 Global CRO Services Market, by Research Type, 2015 - 2025 (USD Mn)
5.1 Introduction
5.2 Clinical Trial Laboratories
5.3 Contract Research Organizations
5.4 Academia
5.1 Introduction
5.2 Clinical Trial Laboratories
5.3 Contract Research Organizations
5.4 Academia
Chapter 6 Global CRO Services Market, by Client Type, 2015 - 2025 (USD Mn)
6.1 Introduction
6.2 Pharmaceutical Companies
6.3 Medical Device Companies
6.4 Academic Organizations
6.1 Introduction
6.2 Pharmaceutical Companies
6.3 Medical Device Companies
6.4 Academic Organizations
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Chapter 7 Global CRO Services Market, By Geography, 2015 - 2025 (USD Mn)
7.1 Preface
7.2 North America
7.2.1 United States
7.2.2 Canada
7.3 Europe
7.3.1 United Kingdom
7.3.2 Germany
7.3.3 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 Rest of Asia Pacific
7.5 Latin America
7.6 Middle East and Africa
7.1 Preface
7.2 North America
7.2.1 United States
7.2.2 Canada
7.3 Europe
7.3.1 United Kingdom
7.3.2 Germany
7.3.3 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 Rest of Asia Pacific
7.5 Latin America
7.6 Middle East and Africa
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