Healthcare CRO Services Market Report 2025

The healthcare CRO services market size has grown strongly in recent years. It will grow from $62.01 billion in 2024 to $66.97 billion in 2025 at a compound annual growth rate (CAGR) of 8%. The growth in the historic period can be attributed to increased focus on regulatory and medical affairs services by CROs, globalization of clinical trials, growing complexity of clinical trials, digital transformation in clinical trials, increased chronic diseases.

The healthcare CRO services market size is expected to see strong growth in the next few years. It will grow to $95.99 billion in 2029 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to rise of biologics and cell and gene therapies, increased focus on rare diseases, focus on cost-effectiveness and speed, growing demand for real-world data, focus on patient-centricity, biopharmaceutical pipeline growth. Major trends in the forecast period include integration of artificial intelligence (ai), integration of machine learning (ml), environmental, social, and governance (ESG) considerations, rising R&D investments by pharmaceutical companies.

The growth of the healthcare CRO services market is being driven by the increase in healthcare expenditures. Healthcare expenditures encompass all costs related to providing health services, family planning, nutrition programs, and emergency health assistance. As healthcare spending rises, it enables a larger pool of funding for medical research and development, which in turn boosts the demand for healthcare CRO services, particularly in supporting clinical trials and studies. For example, in 2022, the Office for National Statistics, a UK-based national statistics organization, reported that healthcare spending in the UK reached approximately $354.88 billion (£283 billion), marking a nominal increase of 0.7% compared to 2021. Consequently, the rise in healthcare spending is contributing to the expansion of the healthcare CRO services market.

The increasing number of clinical trials is expected to further boost the growth of the healthcare CRO services market. Clinical trials are scientific studies involving human participants designed to assess the safety and effectiveness of new medical interventions, such as drugs, therapies, devices, or procedures. Contract research organizations (CROs) play a vital role in the clinical trial process by providing various services that assist pharmaceutical and biotechnology companies in designing, conducting, and managing their studies efficiently. For instance, according to a report from Xtalks, a Canada-based web news and information network, there were 452,604 clinical studies registered on ClinicalTrials.gov as of May 2023, representing a significant increase from the over 365,000 registered trials recorded in early 2021. Therefore, the growth in clinical trials is contributing to the expansion of the healthcare CRO services market.

Major players in the healthcare CRO services market are adopting a strategic partnership approach to provide advanced Proteomics CRO services to biopharmaceutical and biomarker clients on a global scale. Strategic partnerships involve companies leveraging each other's strengths and resources for mutual benefits and success. In January 2023, Bruker Corporation, a US-based manufacturer of scientific instruments, formed a partnership with Biognosys AG, a Switzerland-based healthcare CRO services provider. The collaboration between Bruker and Biognosys is expected to create unique synergies, combining Biognosys' extensive range of proprietary proteomics services, software, and kits with Bruker's innovative timsTOF platform. This strategic partnership will result in the establishment of Biognosys' inaugural laboratory for advanced proteomics CRO services in the United States.

Major companies in the healthcare CRO services market are also innovating by developing products such as clinical trial monitoring solutions to expand their customer bases, boost sales, and increase revenue. A clinical trial monitoring solution is a comprehensive system or set of tools designed to oversee and manage various aspects of clinical trials. For example, in April 2022, Tata Consultancy Services (TCS), an India-based information technology (IT) services and consulting company, introduced a Risk-Based Monitoring solution. This innovative solution utilizes advanced statistical algorithms to proactively identify and address study and site risks in biopharmaceutical and Contract Research Organizations (CROs). Using data science, the solution accurately predicts outcomes related to site workload and risks, enabling stakeholders to implement informed monitoring strategies. The Risk-Based Monitoring solution provides unprecedented insights into missing data, enhancing data quality, consistency, and early detection of trends. With the potential for up to a 30% efficiency gain in site monitoring, the solution's automation streamlines processes, reduces site workload, ensures compliance, and accelerates product speed-to-market.

In May 2023, Elliott Investment Management L.P., a US-based investment management firm, along with Patient Square Capital, a US-based capital market company, and Veritas Capital Fund Management LLC, a US-based quantitative and systematic asset management firm, acquired Syneos Health Inc. for $7.1 billion. Through this acquisition, the consortium of private investment firms seeks to enhance its portfolio by leveraging Syneos Health's expertise in healthcare contract research organization (CRO) services. Syneos Health Inc. is a US-based company specializing in providing CRO services to the healthcare industry.

Major companies operating in the healthcare CRO services market include Laboratory Corporation of America Holdings., IQVIA Inc., Icon Plc., PPD Inc., Wuxi Apptec Co. Ltd., Syneos Health Inc., Parexel International Corporation, Charles River Laboratories International Inc., Covance Inc., Medpace Inc., Pharmaron Beijing Co. Ltd., BioClinica Inc., Chiltern International Ltd., Evotec SE, PSI CRO AG, Premier Research Group Ltd., Worldwide Clinical Trials Inc., Caidya, BioTelemetry Inc., Syngene International Limited, Novotech CRO, Celerion, GVK Biosciences Private Limited, Synteract Inc., Veristat LLC., ACM Global Laboratories, ClinTec Luxembourg SA, Clinlogix LLC.

North America was the largest region in the healthcare CRO services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare cro services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the healthcare cro services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Healthcare Contract Research Organization (CRO) services encompass the outsourced support and specialized expertise provided to the pharmaceutical, biotechnology, and medical device sectors by dedicated businesses. These entities seek assistance from contract research organizations for a range of research-related tasks, including data management, conducting clinical trials, and preparing regulatory submissions.

The primary categories of healthcare CRO services include early-phase development, clinical development services, laboratory services, and consulting services. Early-phase development denotes the initial stage of a project or enterprise, involving the investigation, testing, and validation of theories or hypotheses to establish the foundation for future development and progress. These services find application in various therapeutic areas such as oncology, CNS disorders, cardiovascular diseases, metabolic diseases, infectious diseases, diabetes, and others. Multiple end-users, including pharmaceutical companies, medical device companies, and academic institutes, engage in the utilization of these services.

The healthcare CRO services market research report is one of a series of new reports that provides healthcare CRO services market statistics, including healthcare CRO services industry global market size, regional shares, competitors with a healthcare CRO services market share, detailed healthcare CRO services market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare CRO services industry. This healthcare CRO 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 healthcare CRO services market includes revenues earned by entities by providing services such as discovery studies, pre-clinical services, analytical testing, and related pharmacovigilance and drug safety, data management, and biostatistics. 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.

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