The global market for Contract Research Outsourcing is estimated at US$53.2 Billion in 2023 and is projected to reach US$90.4 Billion by 2030, growing at a CAGR of 7.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the contract research outsourcing market is driven by several factors that reflect the changing landscape of the pharmaceutical and biotech industries. One of the primary drivers is the increasing R&D expenditure by pharmaceutical companies seeking to develop new therapies and maintain a competitive edge. The rising complexity of clinical trials, particularly in areas such as oncology and personalized medicine, necessitates specialized expertise and capabilities that CROs can provide. Additionally, the growing trend of virtual and decentralized clinical trials, accelerated by the COVID-19 pandemic, has further fueled the demand for CRO services. Regulatory pressures and the need for stringent data management and reporting also drive companies to outsource to ensure compliance and mitigate risks. Moreover, the expansion of biopharmaceuticals and the focus on rare diseases and orphan drugs have created new opportunities for CROs to support innovative research initiatives. These factors, combined with advancements in technology and an increasingly collaborative approach to drug development, ensure robust growth and continued evolution in the contract research outsourcing market.
The growth in the contract research outsourcing market is driven by several factors that reflect the changing landscape of the pharmaceutical and biotech industries. One of the primary drivers is the increasing R&D expenditure by pharmaceutical companies seeking to develop new therapies and maintain a competitive edge. The rising complexity of clinical trials, particularly in areas such as oncology and personalized medicine, necessitates specialized expertise and capabilities that CROs can provide. Additionally, the growing trend of virtual and decentralized clinical trials, accelerated by the COVID-19 pandemic, has further fueled the demand for CRO services. Regulatory pressures and the need for stringent data management and reporting also drive companies to outsource to ensure compliance and mitigate risks. Moreover, the expansion of biopharmaceuticals and the focus on rare diseases and orphan drugs have created new opportunities for CROs to support innovative research initiatives. These factors, combined with advancements in technology and an increasingly collaborative approach to drug development, ensure robust growth and continued evolution in the contract research outsourcing market.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Clinical Research Services segment, which is expected to reach US$61.2 Billion by 2030 with a CAGR of a 8.2%. The Discovery Research Services segment is also set to grow at 6.9% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $21.5 Billion in 2023, and China, forecasted to grow at an impressive 10.2% CAGR to reach $5.6 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Contract Research Outsourcing Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Contract Research Outsourcing Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Contract Research Outsourcing Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Charles River Laboratories International, Inc., Galapagos NV, Albany Molecular Research, Inc., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 152 Featured):
- Charles River Laboratories International, Inc.
- Galapagos NV
- Albany Molecular Research, Inc.
- Axxam SpA
- Cyprotex Limited
- BioClinica
- HD Biosciences Co., Ltd.
- Clinipace Inc.
- CMIC Holdings Co., Ltd.
- EAG Laboratories
- Envigo, Inc.
- Genoway S.A.
- EPS International Co., Ltd.
- GenScript Biotech Corporation
- Absorption Systems LLC
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISCANADAITALYSPAINRUSSIAREST OF EUROPEREST OF WORLDIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
UNITED KINGDOM
ASIA-PACIFIC
INDIA
REST OF ASIA-PACIFIC
LATIN AMERICA
Companies Mentioned
- Charles River Laboratories International, Inc.
- Galapagos NV
- Albany Molecular Research, Inc.
- Axxam SpA
- Cyprotex Limited
- BioClinica
- HD Biosciences Co., Ltd.
- Clinipace Inc.
- CMIC Holdings Co., Ltd.
- EAG Laboratories
- Envigo, Inc.
- Genoway S.A.
- EPS International Co., Ltd.
- GenScript Biotech Corporation
- Absorption Systems LLC
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 453 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 53.2 Billion |
| Forecasted Market Value ( USD | $ 90.4 Billion |
| Compound Annual Growth Rate | 7.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
