Scientific Research and Development Services Global Market Report 2024

The scientific research and development services market size has grown strongly in recent years. It will grow from $842.79 billion in 2023 to $906.01 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The expansion observed in the historical period can be ascribed to corporate investments in research and development (R&D), government funding dedicated to research, environmental research initiatives, research in defense and aerospace, and the global integration of research efforts.

The scientific research and development services market size is expected to see strong growth in the next few years. It will grow to $1256.12 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The anticipated growth in the forecast period can be ascribed to research in renewable energy, space exploration, pandemic preparedness, human genetics research, smart cities research, and remote sensing and earth observation. Significant trends in the forecast period involve the incorporation of artificial intelligence (AI) in research, global collaboration in research projects, innovation in materials science and nanotechnology, the integration of data science into research methodologies, and research focused on robotics and automation.

The anticipated rise in the scientific research and development services market is driven by the increasing prevalence of chronic diseases. Chronic diseases, characterized by long-lasting conditions that develop over an extended period, are a focal point for scientific research and development services. These services contribute to advancing medical science by conducting clinical trials, testing innovative drugs and therapies, and creating cutting-edge medical devices aimed at addressing chronic diseases. As of September 2022, the World Health Organization reported that 74% of the 41 million global annual deaths were attributed to non-communicable diseases (NCDs) or chronic diseases. Cardiovascular diseases accounted for 17.9 million deaths, cancer for 9.3 million, chronic respiratory diseases for 4.1 million, and diabetes for 2.0 million deaths. This surge in chronic diseases underscores the driving force behind the growth of the scientific research and development services market.

The increasing demand for new products. Scientific research and development services play a pivotal role in product development by conceptualizing, designing, and creating innovative products. These services explore new technologies and materials, maintain a competitive edge, ensure compliance, and conduct market research. For instance, the Food and Drug Administration in the United States approved 14 biologics in 2021, with the number increasing to 15 in 2022. This surge in demand for novel products is a key driver for the growth of the scientific research and development services market.

The outbreak of COVID-19 acted as a temporary restraint on the scientific research and development services market in 2020. Global lockdowns and trade restrictions, implemented to curb the spread of the virus, limited the demand for professional services. COVID-19, identified in Wuhan, China, in 2019, led to worldwide economic disruptions, impacting businesses throughout 2020 and into 2021. Despite the setback, it is anticipated that the scientific research and development services market will recover over the forecast period, as the pandemic is considered a black swan event, unrelated to inherent weaknesses in the market or the global economy.

Leading companies in the scientific research and development services market are actively forging strategic partnerships to influence the trajectory of drug discovery and development. Collaboration and partnerships play a vital role in this market, serving as catalysts for innovation, accelerating drug development processes, and fostering new discoveries. An illustrative example is the collaboration between Sanofi, a pharmaceutical company based in France, and Atomwise, a US-based technology-enabled pharmaceutical company. In August 2022, these companies entered into a strategic multi-target research collaboration, leveraging Atomwise's AI-powered drug discovery capabilities. Atomwise's AI technology is employed to identify potential drug candidates among small molecules, predicting both efficacy and safety. This strategic partnership exemplifies the significance of collaborative efforts in advancing drug discovery within the Scientific Research And Development Services market.

The evolution from 3D printing to 4D printing introduces a groundbreaking dimension by incorporating time as the fourth dimension, enabling changes in geometrical shape and mechanical properties. While 3D printing is static and inanimate, 4D printing allows objects to be crafted with responsive materials that can transform in response to external stimuli. This advancement finds diverse applications in medical science, particularly in the field of tissue regeneration within biomedicine. For instance, 4D bioprinting technology enables the creation of micro tissue using bio ink, which undergoes maturation through cellular coating, resulting in functional tissue constructs such as engineered tissue. Key players in biotechnology research, such as Poietis, Biolife4D, and Precise Bio, are actively utilizing 4D bioprinting technology to explore innovative possibilities in tissue engineering and beyond.

Major companies operating in the scientific research and development services market report are Amazon.com Inc., Apple Inc., Volkswagen AG, Alphabet Inc., Toyota Motor Corporation, Samsung Electronics Co. Ltd., Microsoft Corporation, Ford Motor Company, General Motors Company, Honda Motor Co. Ltd., Pfizer Inc., Johnson & Johnson, Siemens AG, Roche Holding AG, Intel Corporation, IBM Corporation, Merck & Co. Inc., Cisco Systems Inc., Novartis International AG, Bristol-Myers Squibb Company, Qualcomm Incorporated, Defense Advanced Research Projects Agency (DARPA), IQVIA Holdings Inc., Battelle Memorial Institute, Piramal Group and WuXi AppTec Co. Ltd., Charles River Laboratories Inc., Frog Design, Lawrence Livermore National Laboratory LLC, Lawrence Berkeley National Laboratory, Jackson Laboratory, Sanofi S.A., GlaxoSmithKline plc.

North America was the largest region in the scientific research and development services market in 2023. Asia-Pacific was the second largest region in the scientific research and development services market. The regions covered in the scientific research and development services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the scientific research and development services market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.

These services encompass various categories, such as social sciences and humanities services, physical, engineering, and life sciences, nanotechnology services, and biotechnology services. Nanotechnology involves the precise manipulation of matter at the near-atomic level to generate novel structures, materials, and technologies. This technology holds significant promise for diverse sectors, including medical, consumer goods, energy, materials, and manufacturing.

The scientific research and development services market research report is one of a series of new reports that provides scientific research and development services market statistics, including scientific research and development services industry global market size, regional shares, competitors with a scientific research and development services market share, detailed scientific research and development services market segments, market trends and opportunities, and any further data you may need to thrive in the scientific research and development services industry. This scientific research and development services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The scientific research and development services market consists of revenue earned by entities that engage in research and experimental development on a contract, consultancy, or outsourced basis. Scientific research and development services establishments undertake processes where human capital is the major input. They make available the knowledge and skills of their employees, often on an assignment basis, where an individual or team is responsible for the delivery of services to the client. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.