Europe Contract Research Organization Market to Reach US$ 22,157.62 Mn at a CAGR of 7.7% in 2025

Europe Contract Research Organization (CRO) Market to 2025 - Regional Analysis and Forecasts By Type (Early Phase Development Services, Clinical Research Services, Laboratory Services, Post-Approval Services); End User (Pharmaceutical & Biotechnology Companies and Medical Device Companies), and Country

Publication Month : Jan 2020

  • Report Code : TIPRE00007978
  • Category : Pharmaceuticals
  • Status : Published
  • No. of Pages : 151
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The Europe contract research organization (CRO) market is expected to reach US$ 22,157.62 Mn in 2025 from US$ 12,476.8 Mn in 2017. The market is estimated to grow with a CAGR of 7.7% from 2018-2025.

The growth of the Contract Research Organization (CRO) market is driven by factors such as a rise in the number of clinical trials. However, the market is likely to get impacted due to the dearth of skilled professionals and regional competition in the CRO services market in the region.

Pharmaceutical and biotech companies are focusing on research and development (R&D) to come up with new molecules for various therapeutic applications with the highest medical and commercial potential. The companies invest majorly in the R&Ds to deliver high quality and innovative products to the market. R&D spending by the biopharmaceutical companies has also increased over the years according to a report published by European Federation of Pharmaceutical Industries and Associations (EFPIA) in 2018, the pharmaceutical R&D expenditure in Germany has increased from US$ 7,100.6 million (6,216 € million) in 2015 to US$ 7,113.2 million in 2015 (6,227€ million). Research and development expenditures relate to the processes of discovering, testing and developing new products, upfront payments and milestones, improving existing products, as well as demonstrating product efficacy and regulatory compliance before launch. Therefore, the pharmaceutical and biotech companies prefer to outsource the services to the contract research organizations (CROs) in order to save the cost and time which is expected to drive the growth of the market.

The UK is expected to lead the market in the region owing to increasing expenditure on research and development expenditures in the country. The confrontation between biotechnology and pharmaceutical companies to lower the drug development costs is expected to propel the CROs market in Europe. Moreover, the presence of top revenue-generating pharmaceutical companies that can invest a significant amount in R&D is also expected to boost the growth of CROs in the region. Therefore, considering the factors mentioned above, the growth of the market in the country is likely to contribute the largest share in the European region during the forecast period.


France Contract Research Organization (CRO) Market Revenue and Forecasts to 2025 (US$ Mn)

 

France Contract Research Organization (CRO) Market Revenue and Forecasts to 2025 (US$ Mn)
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EUROPE CONTRACT RESEARCH ORGANIZATION (CRO) – MARKET SEGMENTATION

EUROPE CONTRACT RESEARCH ORGANIZATION (CRO) – By Type

  • Clinical Research Services
  • Early Phase Development Services
  • Laboratory Services
  • Post-Approval Services

EUROPE CONTRACT RESEARCH ORGANIZATION (CRO) – By End User

  • Pharmaceutical & Biotechnology Companies
  • Medical Device Companies

EUROPE CONTRACT RESEARCH ORGANIZATION (CRO) – By Geography

  • Europe

  • Germany
  • UK
  • France

Company Profiles

  • IQVIA
  • Laboratory Corporation of America Holdings
  • PAREXEL International Corporation
  • ICON plc
  • Syneos Health
  • PRA Health Sciences
  • Charles River
  • Pharmaceutical Product Development, LLC
  • WuXi AppTec
  • Medpace
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, End User, and Country

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

UK, Germany, France, Italy, Russia

The List of Companies in Europe Contract Research Organization (CRO) Market

 

  1. IQVIA
  2. Laboratory Corporation of America Holdings
  3. PAREXEL International Corporation
  4. ICON plc
  5. Syneos Health
  6. PRA Health Sciences
  7. Charles River
  8. Pharmaceutical Product Development, LLC
  9. WuXi AppTec
  10. Medpace

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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