Clinical Research Services to Lead Contract Research Organization (CRO) Market During 2021–2028
According to our latest study on “Contract Research Organization (CRO) Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and End User,” the market is projected to reach US$ US$ 88,835.19 million by 2028 from 50,093.56 million in 2021; it is expected to grow at a CAGR of 8.5% from 2021 to 2028. The report highlights the key factors driving the market and prominent players with their developments in the market. The growth of the contract research organization (CRO) market is primarily attributed to the surge in R&D expenditures and outsourcing activities, government initiatives to increase clinical trial participants, and rising number of clinical trials. However, the intense competition among CROs, and a dearth of skilled professionals and researchers are hindering the market growth.
Based on type, the contract research organization (CRO) market is segmented into early phase services, clinical research services, laboratory services, and post-approval services. The clinical research services segment is the largest shareholder in the market and is expected to register the highest CAGR during the forecast period.
IQVIA Inc; Parexel International Corporation; Charles River Laboratories, Inc.; ACM Global Laboratories; Merck KGaA (Bio Reliance Corporation); Celerion; Clinitude; Laboratory Corporation of America Holdings (Covance Inc.); Novotech; and Icon PLC are among the leading companies operating in the contract research organization (CRO) market.
Contract Research Organization (CRO) Market, by Region, 2021 (%)
The report segments contract research organization (CRO) market as follows:
The contract research organization (CRO) market has been segmented on the basis of type and end user. Based on type, the market is segmented into early phase services, clinical research services, laboratory services, and post-approval services. The market for the early phase services segment is sub segmented into drug discovery services and preclinical services. By end user, the contract research organization (CRO) market is segmented into pharmaceutical and biotechnology companies, and medical devices companies.
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- North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of APAC
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
- South and Central America (SCAM)
- Rest of SCAM