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Healthcare Contract Research Organization (CRO) Market Size, Share & Trends Analysis Report By Type (Drug Discovery, Pre-Clinical, Clinical), By Service, By Region, And Segment Forecasts, 2019 - 2025

  • ID: 4538855
  • Report
  • Region: Global
  • 200 pages
  • Grand View Research
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FEATURED COMPANIES

  • Covance Inc.
  • ICON, Plc
  • IQVIA
  • Medidata Solutions, Inc.
  • PAREXEL
  • Pharmaron
  • MORE
The global healthcare contract research organization (CRO) market size is expected to reach USD 54.7 billion by 2025, according to this study. It is anticipated to expand at a CAGR of 6.6% during the forecast period. Increasing cost of drug development is expected to drive the growth. Drug maker and sponsor companies are under pressure to replace the revenue loss caused by generics, increasing patent expirations, number of partnerships to identify biologics, and growing R&D costs, which has made drug development more expensive and complex.

Regulatory framework for drug discovery and drug development is complex in various countries. Thus, an increasing need for expertise in different areas of drug development is driving the demand for outsourcing services. Drug companies are not only outsourcing production of medicines, but also clinical trials. With increasing privatization of clinical trials, there has been an increase in outsourcing of manufacturing processes to developing regions such as India, China, and Latin American countries.

China and India are projected to witness tremendous growth in near future, owing to their treatment naïve patient pool coupled with high disease prevalence. Furthermore, genetically diverse population, highly qualified investigators, and well-equipped hospitals are other factors creating growth opportunities in India for global clinical trials market.

In addition, growing pressure on market players to follow stringent timelines has increased the demand for outsourcing of research activities. Even government organizations are outsourcing their clinical trial activities to CROs so that they can carry out the clinical trials with the required infrastructure, expertise, and minimize cost and timelines. In 2015, the Canadian Federal Budget made an investment of USD 1.33 billion for the Canada Foundation for Innovation (CFI).

In January 2016, Charles River Laboratories International, Inc. entered into a definitive agreement to acquire WIL Research for approximately USD 585 million. The acquisition is expected to strengthen Charles’ ability to partner with global clients. The high R&D spending in oncology has also fueled the need for healthcare contract research outsourcing. Realizing this demand, France-based laboratory, XenTech increased its capacity of its animal care to 50% along with increasing collaborative research projects.

CROs are in a process of continuously improving their portfolio by integrating services with technology. This enables them to save more on time and deliver efficient and desired results to the clients. In June 2016, LSK Global Pharma Services Co., Ltd. expanded the use of Medidata Clinical Cloud by Medidata Clinical Solutions, Inc. Established in the year 2000, the company conducts clinical trials at both local and global scale. It utilizes Medidata’s electronic data capture, unified randomization, medical coding solution, and trial management supply solution.

In addition to offering improved services, CROs are in the process of collaborating to promote their services at a global level. For instance, In June 2017, PAREXEL entered into a merger agreement with West Street Merger Sub, Inc., a wholly-owned subsidiary of West Street Parent, LLC. According to the merger agreement, PARAXEL will survive as a subsidiary of West Street Parent, LLC, in a transaction valued at approximately USD 5.5 billion.

Further key findings from the study suggest:
  • Clinical trial services led the healthcare Contract Research Organization (CRO) market in 2018 owing to the fact that these services comprise four elaborate phases including human subjects. Increasing complexities in R&D trends have raised the need for expertise, thereby shortening the time required to commercialize the molecule
  • Asia Pacific was the largest regional market with revenue share estimated at over 37% due to the reduced cost it offers compared to U.S and other developed economies. Increasing incidence of chronic and lifestyle diseases such as heart disease and diabetes coupled with ease of patient recruitment and availability of expertise for clinical trials are a few driving factors
  • North America also held a significant market share owing to the presence of global industries, which invest most of their revenue in research activities. In addition, many academic institutes receive grants to undertake these activities. For instance, in July 2015, the University of Toronto received USD 1.5 billion under the Medicine by Design initiative
  • Europe offers tax benefits to large and small-scale companies to promote more contract research outsourcing activities. The large companies can claim 30% deducible from the income of their R&D expenditure
  • Major contributors in the global healthcare CRO market are Quintiles, Covance, Pharmaceutical Product Development, LLC (PPD), Parexel, Charles River Laboratories (CRL), ICON plc, inVentiv Health, and Medidata Solutions. According to the US database of trials, Parexel, Quintiles, and PPD are involved in large number of collaboration with the sponsors pertaining to clinical trials
  • In September 2017, Laboratory Corporation of America Holdings acquired Chiltern in a transaction worth USD 1.2 billion. Chiltern became a part of LabCorp’s Covance Drug Development business unit.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Covance Inc.
  • ICON, Plc
  • IQVIA
  • Medidata Solutions, Inc.
  • PAREXEL
  • Pharmaron
  • MORE
Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.1.1 Type
1.1.2 Service
1.1.3 Regional Scope
1.1.4 Estimates and Forecast Timeline
1.2 Research Methodology
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 Internal database
1.3.3 Secondary Sources
1.3.4 Primary Research
1.3.5 Details of Primary Research
1.3.5.1 Data for primary interviews in North America
1.3.5.2 Data for primary interviews in Europe
1.3.5.3 Data for primary interviews in Asia Pacific
1.3.5.4 Data for primary interviews in Latin America
1.3.5.5 Data for primary interviews in MEA
1.4 Information or Data Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation & Validation
1.6 Model Details
1.6.1 Appraoch 1
1.6.2 Approach 2
1.7 List of Secondary Sources
1.8 List of Primary Sources
1.9 List of Abbreviations
1.10 Objectives
1.10.1 Objective - 1
1.10.2 Objective - 2

Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Market Snapshot

Chapter 3 Market Variables, Trends & Scope
3.1 Market Lineage outlook
3.1.1 Parent market outlook
3.1.2 Related/ancillary market outlook
3.2 Market Segmentation and Scope
3.3 Penetration & Growth Prospects Mapping
3.3.1 Analysis
3.4 Clinical Trials
3.5 User Perspective Analysis
3.5.1 Consumer Behavior Analysis
3.5.2 Market Influencer Analysis
3.6 Regulatory Framework & Reimbursement Scenario
3.6.1 North America
3.6.2 Europe
3.6.3 Asia Pacific
3.6.4 Latin America
3.6.5 Middle East
3.7 Market Dynamics
3.7.1 Market Driver Analysis
3.7.1.1 Patent cliff
3.7.1.2 Increasing mergers and collaborations
3.7.1.3 Increasing adoption of advanced technologies
3.7.1.4 Increasing outsourcing of R&D activities
3.7.1.5 Favorable environment for clinical trials in developing countries
3.7.2 Market Restraint Analysis
3.7.2.1 Quality issues of CRO services
3.7.2.2 Intellectual property rights issues
3.8 Business Environment Analysis Tools
3.8.1 Porter’s Five Forces Analysis
3.8.1.1 Bargaining power of buyers
3.8.1.2 Bargaining power of suppliers
3.8.1.3 Competitive rivalry
3.8.1.4 Threat of new entrants
3.8.1.5 Threat of substitutes
3.8.2 Healthcare CRO Market - PESTLE Analysis
3.8.2.1 Political & legal landscape
3.8.2.2 Economic landscape
3.8.2.3 Social landscape
3.8.2.4 Technological landscape
3.8.2.5 Environmental landscape

Chapter 4 Healthcare CRO Market: Type Estimates & Trend Analysis
4.1 Healthcare CRO Type Market Share Analysis, 2018 & 2025
4.2 Healthcare CRO Type Market Segment Dashboard
4.3 Market Size & Forecasts and Trend Analyses, 2014 to 2025 for the Type Segment
4.3.1 Drug Discovery
4.3.1.1 Drug discovery market, 2014 - 2025 (USD Million)
4.3.1.2 Target validation
4.3.1.2.1 Target validation market, 2014 - 2025 (USD Million)
4.3.1.3 Lead identification
4.3.1.3.1 Lead identification market, 2014 - 2025 (USD Million)
4.3.1.4 Lead optimization
4.3.1.4.1 Lead optimization market, 2014 - 2025 (USD Million)
4.3.2 Preclinical
4.3.2.1 Preclinical market, 2014 - 2025 (USD Million)
4.3.3 Clinical
4.3.3.1 Clinical market, 2014 - 2025 (USD Million)
4.3.3.2 Phase I trial services
4.3.3.2.1 Phase I trial services market, 2014 - 2025 (USD Million)
4.3.3.3 Phase II trial services
4.3.3.3.1 Phase II trial services market, 2014 - 2025 (USD Million)
4.3.3.4 Phase III trial services
4.3.3.4.1 Phase III trial services market, 2014 - 2025 (USD Million)
4.3.3.5 Phase IV trial services
4.3.3.5.1 Phase IV trial services market, 2014 - 2025 (USD Million)

Chapter 5 Healthcare CRO Market: Service Estimates & Trend Analysis
5.1 Healthcare CRO Service Market Share Analysis, 2018 & 2025
5.2 Healthcare CRO Service Market Segment Dashboard
5.3 Competitive Landscape- Qualitative Analysis by Services
5.4 Market Size & Forecasts and Trend Analyses, 2014 to 2025 for the Service
5.4.1 Project Management/Clinical Supply Management
5.4.1.1 Project management/clinical supply management market, 2014 - 2025 (USD Million)
5.4.2 Data Management
5.4.2.1 Data management market, 2014 - 2025 (USD Million)
5.4.3 Regulatory/Medical Affairs Outsourcing
5.4.3.1 Regulatory/medical affairs market, 2014 - 2025 (USD Million)
5.4.4 Medical Writing
5.4.4.1 Medical writing market, 2014 - 2025 (USD Million)
5.4.5 Clinical Monitoring
5.4.5.1 Clinical monitoring market, 2014 - 2025 (USD Million)
5.4.6 Quality Management/ Assurance
5.4.6.1 Quality management/assurance market, 2014 - 2025 (USD Million)
5.4.7 Biostatistics
5.4.7.1 Biostatistics market, 2014 - 2025 (USD Million)
5.4.8 Investigator Payments
5.4.8.1 Investigator payments market, 2014 - 2025 (USD Million)
5.4.9 Laboratory
5.4.9.1 Laboratory market, 2014 - 2025 (USD Million)
5.4.10 Patient and Site Recruitment
5.4.10.1 Patient and site recruitment market, 2014 - 2025 (USD Million)
5.4.11 Technology
5.4.11.1 Technology market, 2014 - 2025 (USD Million)
5.4.12 Others
5.4.12.1 Others market, 2014 - 2025 (USD Million)

Chapter 6 Healthcare CRO Market: Regional Estimates & Trend Analysis, by Type and Service
6.1 Healthcare CRO Regional Market Share, 2018 & 2025
6.2 Healthcare CRO Regional Market: Segment Dashboard
6.3 Regional Market Snapshot (Market Size, CAGR, Top Verticals, Key Players, Top Trends)
6.4 List of Players at Regional Level
6.4.1 North America
6.4.2 Europe
6.4.3 Asia Pacific
6.4.4 Latin America
6.4.5 MEA
6.5 SWOT Analysis, by Factor (Political & Legal, Economic and Technological)
6.5.1 North America
6.5.2 Europe
6.5.3 Asia Pacific
6.5.4 Latin America
6.5.5 MEA
6.6 Market Size, & Forecasts, and Trend Analysis, 2014 to 2025
6.6.1 North America
6.6.1.1 North America healthcare CRO market, 2014 - 2025 (USD Million)
6.6.1.2 U.S.
6.6.1.2.1 U.S. healthcare CRO market, 2014 - 2025 (USD Million)
6.6.1.3 Canada
6.6.1.3.1 Canada healthcare CRO market, 2014 - 2025 (USD Million)
6.6.2 Europe
6.6.2.1 Europe healthcare CRO market, 2014 - 2025 (USD Million)
6.6.2.2 U.K.
6.6.2.2.1 U.K. healthcare CRO market, 2014 - 2025 (USD Million)
6.6.2.3 Germany
6.6.2.3.1 Germany healthcare CRO market, 2014 - 2025 (USD Million)
6.6.2.4 France
6.6.2.4.1 France healthcare CRO market, 2014 - 2025 (USD Million)
6.6.3 Asia Pacific
6.6.3.1 Asia Pacific healthcare CRO market, 2014 - 2025 (USD Million)
6.6.3.2 India
6.6.3.2.1 India healthcare CRO market, 2014 - 2025 (USD Million)
6.6.3.3 China
6.6.3.3.1 China healthcare CRO market, 2014 - 2025 (USD Million)
6.6.3.4 Japan
6.6.3.4.1 Japan healthcare CRO market, 2014 - 2025 (USD Million)
6.6.4 Latin America
6.6.4.1 Latin America healthcare CRO market, 2014 - 2025 (USD Million)
6.6.4.2 Brazil
6.6.4.2.1 Brazil healthcare CRO market, 2014 - 2025 (USD Million)
6.6.4.3 Mexico
6.6.4.3.1 Mexico healthcare CRO market, 2014 - 2025 (USD Million)
6.6.5 MEA
6.6.5.1 MEA healthcare CRO market, 2014 - 2025 (USD Million)
6.6.5.2 South Africa
6.6.5.2.1 South Africa healthcare CRO market, 2014 - 2025 (USD Million)

Chapter 7 Competitive Landscape
7.1 Recent Developments & Impact Analysis, by Key Market Participants
7.2 Strategic Framework/ Competition Categorization (Key innovators, Market leaders, emerging players
7.3 Vendor Landscape
7.3.1 List of Key Distributors and Channel Partners
7.3.2 Key Customers
7.4 Strategy Mapping
7.4.1 Launch of New Products
7.4.2 Merger and Acquisition
7.4.3 Geographical Expansion
7.4.4 Partnerships
7.4.5 Marketing & Promotions
7.5 Public Companies
7.5.1 Company Market Position Analysis (Revenue, geographic presence, product portfolio, Strategic Initiativees, Employee Strength)
7.6 Private Companies
7.6.1 Company Market Position Analysis (Geographic Presence, Product Portfolio, Key Alliance, Industry Experience)
7.7 Healthcare Contract Research Organization (CRO) Market Share, 2018
7.8 Healthcare CRO Market: Qualitative Analysis of Models
7.8.1 Transactional Relationships
7.8.2 Functional Service Providers
7.8.3 Alliances
7.9 Company Profiles
7.9.1 IQVIA
7.9.1.1 Company Overview
7.9.1.2 Financial Performance
7.9.1.3 SWOT Analysis
7.9.1.4 Service Benchmarking
7.9.1.5 Strategic Initiativees
7.9.2 Covance Inc.
7.9.2.1 Company Overview
7.9.2.2 Financial Performance
7.9.2.3 SWOT Analysis
7.9.2.4 Service Benchmarking
7.9.2.5 Strategic Initiativees
7.9.3 Pharmaceutical Product Development, LLC (PPD)
7.9.3.1 Company Overview
7.9.3.2 SWOT Analysis
7.9.3.3 Service Benchmarking
7.9.3.4 Strategic Initiativees
7.9.4 PAREXEL
7.9.4.1 Company Overview
7.9.4.2 Financial Performance
7.9.4.3 SWOT Analysis
7.9.4.4 Service Benchmarking
7.9.4.5 Strategic Initiativees
7.9.5 Charles River Laboratories
7.9.5.1 Company Overview
7.9.5.2 Financial Performance
7.9.5.3 SWOT Analysis
7.9.5.4 Service Benchmarking
7.9.5.5 Strategic Initiativees
7.9.6 ICON, plc
7.9.6.1 Company Overview
7.9.6.2 Financial Performance
7.9.6.3 SWOT Analysis
7.9.6.4 Service Benchmarking
7.9.6.5 Strategic Initiativees
7.9.7 Medidata Solutions, Inc.
7.9.7.1 Company Overview
7.9.7.2 Financial Performance
7.9.7.3 SWOT Analysis
7.9.7.4 Service Benchmarking
7.9.7.5 Strategic Initiativees
7.9.8 Syneos Health
7.9.8.1 Company Overview
7.9.8.2 Financial Performance
7.9.8.3 SWOT Analysis
7.9.8.4 Service Benchmarking
7.9.8.5 Strategic Initiativees
7.9.9 Theorem Clinical Research
7.9.9.1 Company Overview
7.9.10 Pharmaron
7.9.10.1 Company Overview
7.9.10.2 SWOT Analysis
7.9.10.3 Service Benchmarking
7.9.10.4 Strategic Initiativees
7.9.11 GVK Biosciences Private Limited
7.9.11.1 Company Overview
7.9.11.2 Financial Performance
7.9.11.3 SWOT Analysis
7.9.11.4 Strategic Initiativees
7.9.12 Dishman Carbogen Amics Limited
7.9.12.1 Company Overview
7.9.12.2 Financial Performance
7.9.12.3 SWOT Analysis
7.9.12.4 Service Benchmarking
7.9.12.5 Strategic Initiativees

*Full List of Tables and Figures Available on Enquiry.
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  • IQVIA
  • Covance Inc.
  • Pharmaceutical Product Development, LLC (PPD)
  • PAREXEL
  • Charles River Laboratories
  • ICON, Plc
  • Medidata Solutions, Inc.
  • Syneos Health
  • Theorem Clinical Research
  • Pharmaron
  • GVK Biosciences Private Limited
  • Dishman Carbogen Amics Limited
Note: Product cover images may vary from those shown
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