This report describes and explains the academic research and development market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global academic research and development market reached a value of nearly $497.5 billion in 2023, having grown at a compound annual growth rate (CAGR) of 7.88% since 2018. The market is expected to grow from $497.5 billion in 2023 to $742.5 billion in 2028 at a rate of 8.34%. The market is then expected to grow at a CAGR of 9.88% from 2028 and reach $1.18 trillion in 2033.
Growth in the historic period resulted from the strong economic growth in emerging markets, growth in interdisciplinary research projects, rise in investment in research and development, increased awareness of research importance and high demand for innovative academic approaches. Factors that negatively affected growth in the historic period include limited research funding and financial constraints.
Going forward, the rising healthcare expenditure and investments, government funding for research initiatives, expanding collaborations between academia and industry and increasing global population of students and researchers will drive the market. Factors that could hinder the growth of the academic research and development market in the future include challenges in recruiting and retaining skilled researchers.
The academic research and development market is segmented by specialties into medicine and healthcare, engineering and technology, social sciences, natural sciences and other specialties. The medicine and healthcare market was the largest segment of the academic research and development market segmented by specialties, accounting for 46.72% or $232.4 billion of the total in 2023. Going forward, the engineering and technology segment is expected to be the fastest growing segment in the academic research and development market segmented by specialties, at a CAGR of 8.62% during 2023-2028.
The academic research and development market is segmented by type of funding into public and private. The public market was the largest segment of the academic research and development market segmented by type of funding, accounting for 64.31% or $319.9 billion of the total in 2023. Going forward, the private segment is expected to be the fastest growing segment in the academic research and development market segmented by type of funding, at a CAGR of 9.03% during 2023-2028.
North America was the largest region in the academic research and development market, accounting for 32.87% or $163.5 billion of the total in 2023. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the academic research and development market will be Asia Pacific and Africa, where growth will be at CAGRs of 10.50% and 10.11% respectively. These will be followed by the Middle East and South America, where the markets are expected to grow at CAGRs of 9.81% and 9.00% respectively.
The global academic research and development market is highly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 2.62% of the total market in 2023. Johns Hopkins University was the largest competitor with a 0.918% share of the market, followed by Stanford University with 0.609%, Bristol-Myers Squibb Company with 0.187%, University of Oxford with 0.173%, Johnson & Johnson (Johnson & Johnson Pharmaceutical Research and Development) with 0.141%, F. Hoffmann-La Roche AG with 0.128%, Laboratory Corporation of America Holdings (Labcorp) with 0.122%, Merck & Co Inc. with 0.121%, Pfizer, Inc. with 0.118% and Scripps Research with 0.108%.
The top opportunities in the academic research and development market segmented by specialties will arise in the medicine and healthcare segment, which will gain $126.6 billion of global annual sales by 2028. The top opportunities in the academic research and development market segmented by type of funding will arise in the public segment, which will gain $149.1 billion of global annual sales by 2028. The academic research and development market size will gain the most in the USA at $59.2 billion.
Market-trend-based strategies for the academic research and development market include focus on deploying advanced AI (artificial intelligence)-driven tools to transform data analysis and insight generation, advancing capabilities and fostering innovation, enhancing research asset utilization by providing targeted financial support and access to advanced resources, establishing advanced research centers to set new standards in artificial intelligence (AI) education and innovation and advancing next-generation defense technology through strategic research centers.
Player-adopted strategies in the academic research and development market include focus on enhancing capabilities through strategic partnerships, establishing multidisciplinary research institutes in collaboration with various stakeholders, strengthening business through initiating new research programs and strengthening business expertise through strategic partnerships.
The global academic research and development market reached a value of nearly $497.5 billion in 2023, having grown at a compound annual growth rate (CAGR) of 7.88% since 2018. The market is expected to grow from $497.5 billion in 2023 to $742.5 billion in 2028 at a rate of 8.34%. The market is then expected to grow at a CAGR of 9.88% from 2028 and reach $1.18 trillion in 2033.
Growth in the historic period resulted from the strong economic growth in emerging markets, growth in interdisciplinary research projects, rise in investment in research and development, increased awareness of research importance and high demand for innovative academic approaches. Factors that negatively affected growth in the historic period include limited research funding and financial constraints.
Going forward, the rising healthcare expenditure and investments, government funding for research initiatives, expanding collaborations between academia and industry and increasing global population of students and researchers will drive the market. Factors that could hinder the growth of the academic research and development market in the future include challenges in recruiting and retaining skilled researchers.
The academic research and development market is segmented by specialties into medicine and healthcare, engineering and technology, social sciences, natural sciences and other specialties. The medicine and healthcare market was the largest segment of the academic research and development market segmented by specialties, accounting for 46.72% or $232.4 billion of the total in 2023. Going forward, the engineering and technology segment is expected to be the fastest growing segment in the academic research and development market segmented by specialties, at a CAGR of 8.62% during 2023-2028.
The academic research and development market is segmented by type of funding into public and private. The public market was the largest segment of the academic research and development market segmented by type of funding, accounting for 64.31% or $319.9 billion of the total in 2023. Going forward, the private segment is expected to be the fastest growing segment in the academic research and development market segmented by type of funding, at a CAGR of 9.03% during 2023-2028.
North America was the largest region in the academic research and development market, accounting for 32.87% or $163.5 billion of the total in 2023. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the academic research and development market will be Asia Pacific and Africa, where growth will be at CAGRs of 10.50% and 10.11% respectively. These will be followed by the Middle East and South America, where the markets are expected to grow at CAGRs of 9.81% and 9.00% respectively.
The global academic research and development market is highly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 2.62% of the total market in 2023. Johns Hopkins University was the largest competitor with a 0.918% share of the market, followed by Stanford University with 0.609%, Bristol-Myers Squibb Company with 0.187%, University of Oxford with 0.173%, Johnson & Johnson (Johnson & Johnson Pharmaceutical Research and Development) with 0.141%, F. Hoffmann-La Roche AG with 0.128%, Laboratory Corporation of America Holdings (Labcorp) with 0.122%, Merck & Co Inc. with 0.121%, Pfizer, Inc. with 0.118% and Scripps Research with 0.108%.
The top opportunities in the academic research and development market segmented by specialties will arise in the medicine and healthcare segment, which will gain $126.6 billion of global annual sales by 2028. The top opportunities in the academic research and development market segmented by type of funding will arise in the public segment, which will gain $149.1 billion of global annual sales by 2028. The academic research and development market size will gain the most in the USA at $59.2 billion.
Market-trend-based strategies for the academic research and development market include focus on deploying advanced AI (artificial intelligence)-driven tools to transform data analysis and insight generation, advancing capabilities and fostering innovation, enhancing research asset utilization by providing targeted financial support and access to advanced resources, establishing advanced research centers to set new standards in artificial intelligence (AI) education and innovation and advancing next-generation defense technology through strategic research centers.
Player-adopted strategies in the academic research and development market include focus on enhancing capabilities through strategic partnerships, establishing multidisciplinary research institutes in collaboration with various stakeholders, strengthening business through initiating new research programs and strengthening business expertise through strategic partnerships.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Academic Research and Development Market - Macro Economic Scenario
9 Global Market Size and Growth
10 Global Academic Research and Development Market Segmentation
11 Academic Research and Development Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
20 Other Major and Innovative Companies
23 Key Mergers and Acquisitions
24 Opportunities and Strategies
25 Academic Research and Development Market, Conclusions and Recommendations
26 Appendix
Executive Summary
Academic Research and Development Global Market Opportunities and Strategies to 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global academic research and development market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for academic research and development? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The academic research and development market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider academic research and development market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by specialties and by type of funding.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- the report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the academic research and development market.
- Global Market Size and Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by specialties and by type of funding in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major and Innovative Companies Details on the company profiles of other major and innovative companies.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities and Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations- This section includes recommendations for academic research and development providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) by Specialties: Medicine and Healthcare; Engineering and Technology; Social Sciences; Natural Sciences; Other Specialties2) by Type of Funding: Public; Private
Key Companies Mentioned: Johns Hopkins University; Stanford University; Bristol-Myers Squibb Company; University of Oxford; Johnson & Johnson (Johnson & Johnson Pharmaceutical Research and Development)
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; academic research and development indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- Johns Hopkins University
- Stanford University
- Bristol-Myers Squibb Company
- University of Oxford
- Johnson & Johnson (Johnson & Johnson Pharmaceutical Research and Development).
- F.Hoffmann-La Roche AG
- Laboratory Corporation of America Holdings (Labcorp)
- Merck & Co Inc.
- Pfizer, Inc.
- Scripps Research
- Huawei Technologies Co., Ltd.
- Tencent Holdings Ltd.
- Alibaba Group
- Baidu, Inc.
- ZTE Corporation
- China National Petroleum Corporation (CNPC)
- China Aerospace Science and Technology Corporation (CASC)
- Lenovo Group Limited
- China Mobile Research Institute (CMRI)
- BYD Company Ltd.
- Tata Consultancy Services (TCS)
- Indian Oil Corporation (IOC)
- Biocon Ltd.
- Wipro Limited.
- Toyota Motor Corporation
- Sony Corporation
- Fujitsu Limited
- Hitachi Ltd.
- Commonwealth Scientific and Industrial Research Organisation
- Cochlear Limited
- Indonesian Institute of Sciences (LIPI)
- Dassault Systèmes
- Sanofi
- Thales Group
- TotalEnergies
- Siemens AG
- Merck KGaA
- Bayer AG
- Leonardo S.p.A.
- Repsol
- Grifols
- Merck Sharp & Dohme
- Fraunhofer Institute for Cell Therapy and Immunology
- L&T Technology Services
- Adamed Pharma
- Czech Academy of Sciences
- Charles University
- Czech Technical University in Prague
- Institute of Organic Chemistry and Biochemistry of the CAS
- University of Warsaw
- Jagiellonian University
- Warsaw University of Technology
- University of Bucharest
- Politehnica University of Bucharest
- Babes-Bolyai University
- Russian Academy of Sciences
- Moscow State University
- Skolkovo Institute of Science and Technology (Skoltech)
- Mitacs
- STEMCELL Technologies
- Fusion Genomics Corp.
- Qualcomm Incorporated
- Oracle Corporation
- Cisco Systems, Inc.
- Lockheed Martin Corporation
- Boeing Company
- General Electric (GE)
- Hewlett Packard Enterprise (HPE)
- Y-TEC (YPF Tecnología)
- Brazilian Agricultural Research Corporation
- FAPESP (São Paulo Research Foundation)
- Institute of Technological Research (IPT)
- Center for Mathematical Modeling (CMM)
- CENER
- Colombian Agricultural Research Corporation (AGROSAVIA)
- National University of Colombia - Research Units
- Royan Institute for Biotechnology
- Tarbiat Modares University
- Technion - Israel Institute of Technology
- Weizmann Institute of Science
- Hebrew University
- BG Negev Technologies & Applications Ltd.
- King Saud University
- Maeen Network
- Bilkent University
- Middle East Technical University (METU)
- Khalifa University
- Sharjah Research Technology and Innovation Park (SRTIP)
- Mohammed Bin Rashid Space Centre (MBRSC)
- Development Bank of Southern Africa (DBSA)
- African Research Universities Alliance (ARUA)
- Telecom
- Elsewedy Electric
- Cleopatra Hospitals Group
- Ezz Steel
- Dangote Group
- Interswitch Group
- Nigerian National Petroleum Corporation (NNPC)
- MTN Nigeria
- Sasol Limited.
- Naspers
- Aspen Pharmacare
- Council for Scientific and Industrial Research
- Safaricom PLC
- KenGen
- Equity Bank
- Bamboo Biopower
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 272 |
| Published | November 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 497.5 Billion |
| Forecasted Market Value ( USD | $ 1180 Billion |
| Compound Annual Growth Rate | 9.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 107 |
