Global Market for Contract Research Organization (CRO) Services

Report Highlights

The global market for CRO services should grow from $54.6 billion in 2021 to $83.6 billion by 2026, at compound annual growth rate (CAGR) of 8.9% for the period of 2021-2026.

Report Includes

• 35 tables
• An updated review of the global markets for in vitro toxicity testing and technologies under development
• Analyses of the global market trends, with data from 2019 to 2020, estimates for 2021, and projections of compound annual growth rates (CAGRs) through 2026
• Technology assessment of the key drivers, restraints and opportunities that will shape the market for in vitro toxicity testing over the next five years (2021 to 2026)
• Evaluation and forecast the overall market size, and corresponding market share analysis by testing method, component, application, technology, end-user industry, and geographic region
• Highlights of the impact of COVID-19 on the progress of this market
• Review of key technology developments, latest market trends, and other influential factors such as validation and testing strategies for pharmaceuticals, cosmetics, and chemicals
• Insight into recent industry structure, current competitive scenario, R&D activities, and regulatory and legislative issues currently focused on in vitro toxicology
• Descriptive company profiles of the leading market players including Charles River Laboratories, Evotec, Frontage Labs, ICON PLC, Medpace, PPD Inc., and Syneos Health

Report Scope

The Global CRO market is identified in this report, along with all major global CRO companies. The total CRO market is broken out globally and by geographic region. All major therapeutic areas covered by CROs in the clinical trial process are detailed. The service areas provided by CROs are extensively covered, as well. The phases of the clinical trial process and the role provided by CROs are detailed in this report, as well. The current report will provide detailed examination of CRO services, analyzing market trends for CRO services with data from 2020, estimates from 2021 and projections of CAGR through 2026 (forecast period 2021-2026).

This report provides detailed analysis of the top CROs and evolving roles in the clinical trial process. Faced with the rapid development of new therapies, pharmaceutical companies increasingly turn to CROs. CRO expertise within specific therapeutic areas and experience with new and adaptive study design protocols, can reduce costs and study duration. With typical clinical trials costing nearly $2.5 billion and spanning over a decade, from initial testing to Phase IV and post market approval, a thriving market exists to lower these costs and timelines. CROs are expected to continue to play an increasing role in many facets of the clinical trial process. Oncology, neurology, cardiovascular, metabolism-diabetes, vaccines and other rapidly growing therapeutic areas that have a significant number of drugs in the clinical trial process are detailed in this report.

Strong demand for CROs leads to heightened market valuations and to a plethora of blockbuster mergers and acquisitions (M&As). M&As led to a few powerful companies with expertise across many areas of the clinical trial process. Niche players are still playing a critical role. Emerging trends and changing dynamics within the CRO industry are analyzed, in detail, in this report.

Analyst Credentials

BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.

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