Contract Research Organization (CRO) Services Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Contract Research Organization (CRO) Services Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032



Growth Factors of Contract Research Organization Services Market

The contract research organization services market size was valued at USD 82.60 billion in 2023, and the market is now projected to grow to USD 188.52 billion by 2030, exhibiting a CAGR of 12.5% during the forecast period of 2023-2030.

COVID-19 has impacted the CRO services marketplace, with boom slowing down because of lockdown guidelines. However, it has visible a spike in increase, with pharmaceutical and biopharmaceutical agencies boosting research and improvement and manufacturing strategies. Contract studies agency services had been partnered with pharma businesses and educational institutes for vaccine studies. The global marketplace fee improved due to immoderate name for prolonged income, with IQVIA generating an anticipated earnings of USD 13.65 billion in 2021.

Clinical trials are crucial for global medication development, identifying new treatments and techniques for disease detection and prevention. They provide a scientific foundation for patient treatment and evaluation of new medications and equipment. Success rates depend on the study stage and treatments. Despite increasing sophistication, only 9% of medications make it through phase I to approval. Rise in medical trials is anticipated to boost the contract research organization services market growth.

Many biopharmaceutical and pharmaceutical businesses continue to make investments closely in developing new remedies and generation. Sponsors typically outsource medicinal and product development to independent service providers, allowing for a more flexible pricing structure and eliminating redundant development skills globally. Global market growth is driven by increased spending in clinical and non-clinical research, as well as outsourcing to contract research firms for cost-effective development. Key pharmaceutical businesses are improving R&D efficiency and partnering for more research. Pharma R&D businesses are shifting towards remote work and patient-centric trial objectives.

Comprehensive Analysis of Contract Research Organization Services Market

The market for clinical studies and development (CRO) is segmented into numerous areas, with oncology maintaining the best market percentage because of improvements in studies and technology. CNS problems, inclusive of Alzheimer's, Dementia, and Parkinson's, have the second-maximum CAGR. The marketplace is mainly dominated by pharmaceutical and biotech organizations, who invest more in R & D and outsourcing to CROs. Medical device CROs also are growing hastily, dealing with scientific technology and new developments in healthcare.

The North America region lead the contract research organization services market share by benefitting a market size of USD 36.97 billion in 2022 due to the region's supremacy is attributed to its strong pharmaceutical industry, drug research activities, and healthcare infrastructure. Pharmaceutical companies increasingly outsource clinical studies to treat various diseases. In addition, these organizations are increasing their R&D investments.

Labcorp Drug Development accounted for the majority of the market in 2022. The marketplace's increase changed into via and big driven thru the organisation's recognition on mergers and acquisitions to enhance their offerings. Key players like Medpace (U.S.), PSI (Switzerland), Parexel International Corporation (U.S.), Iquja (U.S.), and Labcorp Drug Development (U.S.) are incorporating new era like AI to broaden their services. In July 2021, Labcorp extended its oncology supplying with the acquisition of Omniseq. The buy strengthened the business enterprise's contract studies company offerings imparting and footprint.

Thermo Fisher Scientific Inc. acquired Pharmaceutical Product Development, LLC in December 2021. This acquisition enhanced the agency's key services and products.

Segmentation Table

Attribute Details

Study Period 2019-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2019-2021

Growth Rate CAGR of 12.5% from 2023-2030

Unit Value (USD Billion)

Segmentation Service Type, Application, End-User, and Region

By Service Type Early Phase Development Services

- CMC

- Preclinical Services

- Discover

Clinical

- Phase 1

- Phase 2

- Phase 3

- Phase 4

Laboratory Service

Others

By Application Oncology

CNS Disorder

Cardiology

Infectious Disease

Metabolic Disorder

Renal/Nephrology

Others

By End-user Pharmaceutical & Biotechnological Companies

Medical Device Companies

Academic & Research Institutes

Others

By Geography North America (by Service Type, by Application, by End-user, and by Country)

- U.S.

- Canada

Europe ( by Service Type, by Application, by End-user, and by Country/Country-Sub-region)

- U.K.

- Germany

- France

- Italy

- Spain

- Scandinavia

- Rest of Europe

Asia Pacific ( by Service Type, by Application, by End-user, and by Country/Country-Sub-region )

- Japan

- China

- India

- Australia & New Zealand

- Southeast Asia

- Rest of Asia Pacific

Rest of the World ( by Service Type, by Application, and by End-user)


1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
3.4. Market Trends
4. Key Insights
4.1. Prevalence of Osteoarthritis, By Key Countries/Regions, 2022
4.2. Prevalence of Rheumatoid Arthritis – By Key Countries/Regions, 2022
4.3. Joint Replacement Surgery- Snapshot
4.4. Key Industry Developments – Mergers, Acquisitions, Partnerships
4.5. New Product Launches, Key Players
4.6. Overview of the Regulatory Scenario By Key Countries
4.7. Impact of COVID-19 on the Market
5. Global Orthopedic Joint Replacement Market Analysis, Insights and Forecast, 2019-2030
5.1. Market Analysis, Insights and Forecast – By Product
5.1.1. Knee
5.1.2. Hip
5.1.3. Shoulder
5.1.4. Ankle
5.1.5. Others
5.2. Market Analysis, Insights and Forecast – By Procedure
5.2.1. Total Replacement
5.2.2. Partial Replacement
5.2.3. Others
5.3. Market Analysis, Insights and Forecast – By End-User
5.3.1. Hospitals & ASCs
5.3.2. Orthopedic Clinics
5.3.3. Others
5.4. Market Analysis, Insights and Forecast – By Region
5.4.1. North America
5.4.2. Europe
5.4.3. Asia Pacific
5.4.4. Latin America
5.4.5. Middle East & Africa
6. North America Orthopedic Joint Replacement Market Analysis, Insights and Forecast, 2019-2030
6.1. Market Analysis, Insights and Forecast – By Product
6.1.1. Knee
6.1.2. Hip
6.1.3. Shoulder
6.1.4. Ankle
6.1.5. Others
6.2. Market Analysis, Insights and Forecast – By Procedure
6.2.1. Total Replacement
6.2.2. Partial Replacement
6.2.3. Others
6.3. Market Analysis, Insights and Forecast – By End-User
6.3.1. Hospitals & ASCs
6.3.2. Orthopedic Clinics
6.3.3. Others
6.4. Market Analysis, Insights and Forecast – By Country
6.4.1. U.S.
6.4.2. Canada
7. Europe Orthopedic Joint Replacement Market Analysis, Insights and Forecast, 2019-2030
7.1. Market Analysis, Insights and Forecast – By Product
7.1.1. Knee
7.1.2. Hip
7.1.3. Shoulder
7.1.4. Ankle
7.1.5. Others
7.2. Market Analysis, Insights and Forecast – By Procedure
7.2.1. Total Replacement
7.2.2. Partial Replacement
7.2.3. Others
7.3. Market Analysis, Insights and Forecast – By End-User
7.3.1. Hospitals & ASCs
7.3.2. Orthopedic Clinics
7.3.3. Others
7.4. Market Analysis, Insights and Forecast – By Country/Sub-region
7.4.1. UK
7.4.2. Germany
7.4.3. France
7.4.4. Italy
7.4.5. Spain
7.4.6. Scandinavia
7.4.7. Rest of Europe
8. Asia Pacific Orthopedic Joint Replacement Market Analysis, Insights and Forecast, 2019-2030
8.1. Market Analysis, Insights and Forecast – By Product
8.1.1. Knee
8.1.2. Hip
8.1.3. Shoulder
8.1.4. Ankle
8.1.5. Others
8.2. Market Analysis, Insights and Forecast – By Procedure
8.2.1. Total Replacement
8.2.2. Partial Replacement
8.2.3. Others
8.3. Market Analysis, Insights and Forecast – By End-User
8.3.1. Hospitals & ASCs
8.3.2. Orthopedic Clinics
8.3.3. Others
8.4. Market Analysis, Insights and Forecast – By Country/Sub-region
8.4.1. Japan
8.4.2. China
8.4.3. India
8.4.4. Australia
8.4.5. Southeast Asia
8.4.6. Rest of Asia Pacific
9. Latin America Orthopedic Joint Replacement Market Analysis, Insights and Forecast, 2019-2030
9.1. Market Analysis, Insights and Forecast – By Product
9.1.1. Knee
9.1.2. Hip
9.1.3. Shoulder
9.1.4. Ankle
9.1.5. Others
9.2. Market Analysis, Insights and Forecast – By Procedure
9.2.1. Total Replacement
9.2.2. Partial Replacement
9.2.3. Others
9.3. Market Analysis, Insights and Forecast – By End-User
9.3.1. Hospitals & ASCs
9.3.2. Orthopedic Clinics
9.3.3. Others
9.4. Market Analysis, Insights and Forecast – By Country/Sub-region
9.4.1. Brazil
9.4.2. Mexico
9.4.3. Rest of Latin America
10. Middle East & Africa Orthopedic Joint Replacement Market Analysis, Insights and Forecast, 2019-2030
10.1. Market Analysis, Insights and Forecast – By Product
10.1.1. Knee
10.1.2. Hip
10.1.3. Shoulder
10.1.4. Ankle
10.1.5. Others
10.2. Market Analysis, Insights and Forecast – By Procedure
10.2.1. Total Replacement
10.2.2. Partial Replacement
10.2.3. Others
10.3. Market Analysis, Insights and Forecast – By End-User
10.3.1. Hospitals & ASCs
10.3.2. Orthopedic Clinics
10.3.3. Others
10.4. Market Analysis, Insights and Forecast – By Country/Sub-region
10.4.1. GCC
10.4.2. South Africa
10.4.3. Rest of Middle East & Africa
11. Competitive Analysis
11.1. Global Market Share Analysis (2022)
11.2. Company Profiles (Overview, Product, SWOT Analysis, Recent Developments, Strategies, Financials (Based on Availability))
11.2.1. Johnson & Johnson Services, Inc.
11.2.1.1. Overview,
11.2.1.2. Product,
11.2.1.3. SWOT Analysis,
11.2.1.4. Recent Developments,
11.2.1.5. Strategies,
11.2.1.6. Financials (Based on Availability)
11.2.2. Stryker
11.2.2.1. Overview,
11.2.2.2. Product,
11.2.2.3. SWOT Analysis,
11.2.2.4. Recent Developments,
11.2.2.5. Strategies,
11.2.2.6. Financials (Based on Availability)
11.2.3. Smith & Nephew
11.2.3.1. Overview,
11.2.3.2. Product,
11.2.3.3. SWOT Analysis,
11.2.3.4. Recent Developments,
11.2.3.5. Strategies,
11.2.3.6. Financials (Based on Availability)
11.2.4. Zimmer Biomet
11.2.4.1. Overview,
11.2.4.2. Product,
11.2.4.3. SWOT Analysis,
11.2.4.4. Recent Developments,
11.2.4.5. Strategies,
11.2.4.6. Financials (Based on Availability)
11.2.5. Arthrex, Inc.
11.2.5.1. Overview,
11.2.5.2. Product,
11.2.5.3. SWOT Analysis,
11.2.5.4. Recent Developments,
11.2.5.5. Strategies,
11.2.5.6. Financials (Based on Availability)
11.2.6. Integra LifeSciences
11.2.6.1. Overview,
11.2.6.2. Product,
11.2.6.3. SWOT Analysis,
11.2.6.4. Recent Developments,
11.2.6.5. Strategies,
11.2.6.6. Financials (Based on Availability)
11.2.7. B. Braun Melsungen AG
11.2.7.1. Overview,
11.2.7.2. Product,
11.2.7.3. SWOT Analysis,
11.2.7.4. Recent Developments,
11.2.7.5. Strategies,
11.2.7.6. Financials (Based on Availability)
11.2.8. Bioimpianti
11.2.8.1. Overview,
11.2.8.2. Product,
11.2.8.3. SWOT Analysis,
11.2.8.4. Recent Developments,
11.2.8.5. Strategies,
11.2.8.6. Financials (Based on Availability)
11.2.9. Conformis
11.2.9.1. Overview,
11.2.9.2. Product,
11.2.9.3. SWOT Analysis,
11.2.9.4. Recent Developments,
11.2.9.5. Strategies,
11.2.9.6. Financials (Based on Availability)
11.2.10. MicroPort Scientific Corporation
11.2.10.1. Overview,
11.2.10.2. Product,
11.2.10.3. SWOT Analysis,
11.2.10.4. Recent Developments,
11.2.10.5. Strategies,
11.2.10.6. Financials (Based on Availability)

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