Global Pharma Contract Research Organization Market – Drivers, Opportunities, Trends, and Forecast: 2018–2024
Overview: Contract Research Organization (CRO), also sometimes referred as also referred as clinical research organization are key constituent of the drug development process, offers range of services to pharmaceutical and biopharmaceutical companies. CRO’s can provide services such as early phase development services (includes discovery studies, chemistry, manufacturing & control), Pharmacokinetics/Pharmacodynamics (PK/PD), toxicology testing, clinic research services (Phase I, Phase II, Phase III, Phase IV), laboratory services, analytical and bioanalytical testing, physical characterization, and consulting services. CRO also extend their services to governmental institutes, Universities, in addition to research institutions. CRO’s help in the drug development various major diseases such as oncology, cardiovascular disease, diabetes, infectious diseases, CNS disorders, respiratory disorders and other disorders.
The market for pharma contract research organization is driven by increasing outsourcing of research and development by pharmaceutical companies, increasing clinical trials across the globe, increasing number of patent expiration and growth in biopharmaceuticals market are some of the factors driving the growth of CRO market, whereas, lack of skilled personnel and quality issues related to services offered by CROs are limiting the growth of CRO market to an extent.
Market Analysis: The “Global Pharma Contract Research Organization market” is estimated to witness a CAGR of 8.2% during the forecast period 2018–2024. The global market is analyzed based on three segments –Service type, therapeutic area and regions.
Regional Analysis: The regions covered in the report are the North America, Europe, Asia Pacific, and Rest of the World (ROW). North America is the major shareholder in the global pharma contract research organization market, followed by Europe. Increasing growth of biopharmaceutical market, high quality standards of pharma and biopharma industry and availability of advanced technologies makes North America major shareholder of pharma CRO market. Asia Pacific is expected to grow at high CAGR during forecasted period due to increasing research activities, growing patient pool, and flexible regulatory environment for clinical trials.
Service Type Analysis: The pharma contract research organization market by service type is segmented into discovery, preclinical studies, clinical studies and others. Among these, clinical study services accounted for the highest market share in 2017, due to increasing prevalence of lifestyle and metabolic diseases, growth in the elderly population and increasing clinical trials globally.
Therapeutic Area Analysis: The market by therapeutic area is segmented into oncology, infectious disease, cardiovascular disease, CNS disorders, immunological disorders, respiratory disease, diabetes and others. Oncology occupied a major market share in 2017 and is expected to remain same for next five years. This is due to increasing global prevalence of cancer across the globe and high number of ongoing clinical trials in this segment.
Laboratory Corporation of America Holdings (Covance), Charles River Laboratories, Inc., Pharmaceutical Product Development Inc., IQVIA Holdings Inc., PAREXEL International Corporation, ICON plc, Syneos Health, Inc., Medpace Holdings, Inc., Envigo, Evotec AG, Eurofins Scientific, PRA Health Sciences, Inc., WuXi AppTec, Inc., SGS SA, EPS International, Genscript Biotech Corporation and niche players.
Competitive Analysis: There is increase in acquisitions and mergers by the CRO’s in recent years to gain global foothold in the highly competitive CRO market. For instance, in August 2017, LabCorp acquired CRO Chiltern for $1.2 billion, which will become part of the company’s Covance Drug Development business. This will strengthen LabCorp’s Position as a Global Life Sciences Company with Leading Diagnostics and Drug Development Businesses. In August 2017, Avista Healthcare and CRO Envigo have entered into a definitive merger agreement under which Envigo will become a wholly owned subsidiary of Avista. In August 2017, Mercachem and Syncom, two of the leading European drug discovery Contract Research Organizations (CRO), announced the merger of two companies that will result in the formation of Mercachem-Syncom Group, with more than 300 employees and operations in Nijmegen and Groningen. In addition, the company has numerous partnership to enhance their service capabilities. For instance, In March 2018, PAREXEL announced a partnership with CHA Medical Group to increase its early phase clinical development capabilities in South Korea. WuXi AppTec entered into partnership with biopharmaceutical company Antengene Corporation to accelerate drug development for oncology.
Benefits: The report provides complete details about the services offered by pharma contract research organizations in various therapeutic verticals and regions. With that, key stakeholders can know about the major trends, drivers, investments, and vertical player’s initiatives. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals to analyze before investing or expanding the business in this market.
1 Industry Outlook
1.1 Industry Overview
1.1.1 Industry Trends
1.1.2 R&D pipeline in pharmaceutical industry
1.2 Total addressable market
2 Report Outline
2.1 Report Scope
2.2 Report Summary
2.3 Research Methodology
2.4 Report Assumptions
3 Market Snapshot
3.1 Market Definition
3.2 Need of CRO
3.3 History of CRO
3.4 Segmented Addressable Market (SAM)
3.5 Trends of the pharma contract research organization market
3.6 Related Markets
3.6.1 Pharmaceutical Contract manufacturing organization market
3.6.2 Drug discovery outsourcing
4 Market Outlook
4.1 Funding Scenario
4.2 Process of Drug Development
4.3 Market segmentation
4.4 PEST Analysis
4.5 Porter 5(Five) Forces
5 Market Characteristics
5.1 DRO – Global pharma contract research organization Market Dynamics
126.96.36.199 Upsurge in outsourcing of R&D activities
188.8.131.52 Rising number of clinical trials across the globe
184.108.40.206 Growth in the biopharmaceutical market
220.127.116.11 Increasing number of deals to develop new compounds for rare disease
18.104.22.168 Quality issues related to services offered by CRO
22.214.171.124 Lack of trained professionals
5.2 DRO – Impact Analysis
5.3 Key Stakeholders
6 Service type: Market Size & Analysis
6.2 Discovery services
6.3 Preclinical study services
6.3.2 Toxicology testing
6.4 Clinical study services
6.4.1 Phase I
6.4.2 Phase II
6.4.3 Phase III
6.4.4 Phase IV
7 Therapeutic indication: Market Size & Analysis
7.3 Respiratory disease
7.4 CNS disorder
7.5 Infectious disease
7.6 Cardiovascular disease
7.7 Immunological disorder
8 Regions: Market Size and Analysis
8.2 North America
8.4 Asia Pacific
8.5 Rest of the World
9 Competitive Landscape
10 Vendor Profiles
10.1 Charles River Laboratories, Inc.
10.1.2 Charles River Laboratories, Inc.: Recent Developments
10.1.3 Business Units
10.1.4 Geographic Revenue
10.1.5 Business Focus
10.1.6 SWOT Analysis
10.1.7 Business Strategies
10.2 Laboratory Corporation of America Holdings (LABCORP)
10.2.2 Laboratory Corporation of America Holdings: Recent Developments
10.2.3 Business Units
10.2.4 Geographic Revenue
10.2.5 Business Focus
10.2.6 SWOT Analysis
10.2.7 Business Strategies
10.3 IQVIA HOLDINGS INC.
10.3.2 Business Units
10.3.3 Geographic Revenue
10.3.4 Business Focus
10.3.5 SWOT Analysis
10.3.6 Business Strategies
10.4 Pharmaceutical Product Development Inc
10.4.2 Business Focus
10.4.3 SWOT Analysis
10.4.4 Business Strategy
10.5 ICON PLC
10.5.2 Geographic Revenue
10.5.3 Business Focus
10.5.4 SWOT Analysis
10.5.5 Business Strategies
10.6 PAREXEL International Corporation
10.6.2 Business Units
10.6.3 Geographic Revenue
10.6.4 Business Focus
10.6.5 SWOT Analysis
10.6.6 Business Strategies
11 Companies to Watch for
11.1 PRA HEALTH SCIENCES, INC.
11.2 Syneos Health Inc
11.3 WuXi AppTec
11.4 Medpace Holdings, Inc.
11.5 SGS SA
11.7 EPS INTERNATIONAL
11.8 EVOTEC AG
11.9 GenScript Biotech Corporation
11.10 Eurofins Scientific
Table 1 Merger And Acquisitions In Cro Market (2010-2018)
Table 2 Funding Scenario
Table 3 Global Pharma Contract Research Organization Revenue By Regions, 2017–2024 ($Billion)
Table 4 Other Vendors Of Pharma Contract Research Organization Market
Table 5 Charles River Laboratories, Inc.: Offerings
Table 6 Laboratory Corporation Of America Holdings: Product Offerings
Table 7 IQVIA Holdings Inc.: Offerings
Table 8 IQVIA Holdings Inc.: Recent Developments
Table 9 Pharmaceutical Product Development Inc.: Offerings
Table 10 Pharmaceutical Product Develoment Inc.: Recent Developments
Table 11 Icon Plc: Offerings
Table 12 Icon Plc: Recent Developments
Table 13 Parexel Internation Corporation: Offerings
Table 14 Parexel International Corporation: Recent Developments
Table 15 PRA Health Sciences, Inc.: Snapshot
Table 16 PRA Health Sciences, Inc.: Recent Developments
Table 17 Syneos Health, Inc: Snapshot
Table 18 Syneos Health Inc: Recent Developments
Table 19 Wuxi Apptec: Snapshot
Table 20 Wuxi Apptec: Recent Developments
Table 21 Medpace Holdings, Inc.: Snapshot
Table 22 Medpace Holdings, Inc.: Recent Developments
Table 23 SGS SA: Snapshot
Table 24 SGS SA: Recent Developments
Table 25 Envigo: Snapshot
Table 26 Envigo: Recent Developments
Table 27 EPS International: Snapshot
Table 28 EPS International: Recent Developments
Table 29 Evotec: Snapshot
Table 30 Evotec AG: Recent Developments
Table 31 Genscript Biotech Corporation: Snapshot
Table 32 Genscript Biotech Corporation: Recent Developments
Table 33 Eurofins Scientific: Snapshot
Table 34 Eurofins Scientific: Recent Developments
- Charles River Laboratories Inc.
- EPS International
- Eurofins Scientific
- Evotec AG
- Genscript Biotech Corporation
- ICON plc
- IQVIA Holdings Inc.
- Laboratory Corporation of America Holdings (Covance)
- Medpace Holdings Inc.
- PAREXEL International Corporation
- Pharmaceutical Product Development Inc.
- PRA Health Sciences Inc.
- SGS SA
- Syneos Health Inc.
- WuXi AppTec Inc.