The North America contract research organization (CRO) market is expected to reach US$ 30.7 Bn in 2025 from US$ 16.3 Bn in 2017. The market is estimated to grow with a CAGR of 8.4% from 2018-2025.
The growth of the Contract Research Organization (CRO) market is driven by the factors such as, increasing R&D expenditures and outsourcing activities and rise in the number of clinical trials. However, the market is likely to get impacted due to dearth of skilled professionals and regional competition in the CRO services market, in the region.
Pharmaceutical and biotech companies are focusing on the research and development (R&D) to come up with new molecules for various therapeutic applications with the greatest medical and commercial potential. The companies invest majorly on the R&Ds with the aim of delivering 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 of Pharmaceutical Research and Manufacturers of America (PhRMA), the R&D expenditure of the biopharmaceutical companies has increased from US$ 49.6 Bn 2012 to US$ 58.8 Bn in 2015. 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 prior to launch. According to the International Federation of Pharmaceutical Manufacturers & Associations, the R&D expenditures in 2014 by the pharmaceuticals and biotechnology industry grew by approximately 8.7% than that of the expenditures in 2013. Moreover, in United States, investments for R&D by pharmaceutical companies had grown consistently over the last 15 years. The intensity for R&D by the companies in Japan accounted for about 13.3%, in US it accounted approximately 17% and in the European Union it was registered to be approximately 13% in the year 2014. 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.
US is expected to lead the market in the North America region owing to increasing expenditure of research and development expenditures in the country. The confrontation of biotechnology and pharmaceutical companies to lower the drug development costs is expected to propel the CROs market in the US. Moreover, the presence of top revenue generating pharmaceutical companies in the US that have capability to invest a large amount in R&D is also expected to boost the growth of CROs in the US. Therefore, considering the above mentioned factors the growth of the market in the country is likely to contribute largest share in the North America region during the forecast period.
Mexico Contract Research Organization (CRO) Market Revenue and Forecasts to 2025 (US$ Mn)
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NORTH AMERICA CONTRACT RESEARCH ORGANIZATION (CRO) – MARKET SEGMENTATION
NORTH AMERICA CONTRACT RESEARCH ORGANIZATION (CRO) – By Type
- Clinical Research Services
- Early Phase Development Services
- Laboratory Services
- Post-Approval Services
NORTH AMERICA CONTRACT RESEARCH ORGANIZATION (CRO) – By End User
- Pharmaceutical & Biotechnology Companies
- Medical Device Companies
NORTH AMERICA CONTRACT RESEARCH ORGANIZATION (CRO) – By Geography
• North America
- US
- Canada
- Mexico
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
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, End User and Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
PART 1. iNTRODUCTION
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
PART 2. North America CONTRACT RESEARCH ORGANIZATION (CRO) Market – Key takeaways
PART 3. North America contract research organization (CRO) market – market landscape
3.1 overview
3.2 market segmentation
3.2.1 North America Contract Research Organization (CRO) Market – By Type
3.2.2 North America Contract Research Organization (CRO) Market – By End User
3.2.3 North America Contract Research Organization (CRO) Market – By Country
3.3 PEST Analysis
PART 4. North America contract research organization (CRO) market- Key Market Dynamics
4.1 Key Market Drivers
4.1.1 Increasing R&D Expenditures and Outsourcing Activities
4.1.2 Rise in The Number of Clinical Trials
4.2 Key Market Restraints
4.2.1 Dearth Of Skilled Professionals
4.2.2 Regional Competition in The CRO Services Market
4.3 Key Market Opportunities
4.3.1 Growing Biosimilars and Biologics Market
4.3.2 Increasing Demand for Specialized Testing Services
4.4 future Trends
4.4.1 Increasing Market Consolidation
4.5 Impact analysis
PART 5. Contract Research Organization (CRO) market – North America Analysis
5.1 North America CONTRACT RESEARCH ORGANIZATION (CRO) market Revenue Forecasts and Analysis
5.2 Market positioning
5.3 PERFORMANCE OF KEY PLAYERS
5.4 expert opinions
PART 6. North America CONTRACT RESEARCH ORGANIZATION (CRO) market Analysis – By Type
6.1 Overview
6.2 North America contract research organization (CRO) MARKET, BY Type 2017 & 2025 (%)
6.3 North America CONTRACT RESEARCH ORGANIZATION (CRO) market Revenue And Forecasts to 2025, By type (US$ Mn)
6.4 early phase development services Market
6.4.1 Overview
6.4.2 North America Early Phase Development Services Market Revenue and Forecasts to 2025 (US$ Mn)
6.4.3 Drug Discovery Services
6.4.3.1 Overview
6.4.3.2 North America Drug Discovery Services Market Revenue and Forecasts to 2025 (US$ Mn)
6.4.4 Pre-Clinical Services
6.4.4.1 Overview
6.4.4.2 North America Pre-Clinical Services Market Revenue and Forecasts to 2025 (US$ Mn)
6.5 Clinical research services
6.5.1 Overview
6.5.2 North America Clinical Research Services Market Revenue and Forecasts to 2025 (US$ Mn)
6.6 Laboratory services
6.6.1 Overview
6.6.2 North America Laboratory Services Market Revenue and Forecasts to 2025 (US$ Mn)
6.7 post-approval services
6.7.1 Overview
6.7.2 North America Post-Approval Services Market Revenue and Forecasts to 2025 (US$ Mn)
PART 7. North America contract research organization (CRO) market Analysis – By End User
7.1 Overview
7.2 NORTH AMERICA CONTRACT RESEARCH ORGANIZATION (CRO) MARKET, BY end user, 2017 & 2025 (%)
7.3 North America CONTRACT RESEARCH ORGANIZATION (CRO) market Revenue And Forecasts to 2025, By end user (US$ Mn)
7.4 Pharmaceutical and biotechnology companies
7.4.1 Overview
7.4.2 North America Pharmaceutical and Biotechnology Companies Market Revenue and Forecasts to 2025 (US$ Mn)
7.5 medical device companies
7.5.1 Overview
7.5.2 North America Medical Device Companies Market Revenue and Forecasts to 2025 (US$ Mn)
PART 8. North America contract research organization (CRO) market Revenue and Forecasts to 2025
8.1 Overview
8.2 North America contract research organization (CRO) Market Revenue and Forecasts to 2025 (us$ Mn)
8.2.1 North America Contract Research Organization (CRO) Market Revenue And Forecasts to 2025, By Type (US$ Mn)
8.2.1.1 North America Early Phase Development Services Market Revenue And Forecasts to 2025, By Type (US$ Mn)
8.2.2 North America Contract Research Organization (CRO) Market Revenue And Forecasts to 2025, By End User (US$ Mn)
8.3 North America contract research organization (CRO) Market share, By Country (2017 & 2025) (%)
8.4 Us contract research organization (CRO) Market Revenue and Forecasts to 2025 (US$ Mn)
8.4.1 US Contract Research Organization (CRO) Market revenue And Forecasts to 2025 (US$ Mn)
8.4.2 US Contract Research Organization (CRO) Market Revenue And Forecasts to 2025, By Type (US$ Mn)
8.4.2.1 US Early Phase Development Services Market Revenue And Forecasts to 2025, By Type (US$ Mn)
8.4.3 US Contract Research Organization (CRO) Market Revenue And Forecasts to 2025, By End User (US$ Mn)
8.5 canada contract research organization (CRO) Market Revenue and Forecasts to 2025 (US$ Mn)
8.5.1 Canada Contract Research organization (CRO) Market Revenue And Forecasts to 2025 (US$ Mn)
8.5.2 Canada Contract Research Organization (CRO) Market Revenue And Forecasts to 2025, By Type (US$ Mn)
8.5.2.1 Canada Early Phase Development Services Market Revenue And Forecasts to 2025, By Type (US$ Mn)
8.5.3 Canada Contract Research Organization (CRO) Market Revenue And Forecasts to 2025, By End User (US$ Mn)
8.6 mexico contract research organization (CRO) Market Revenue and Forecasts to 2025 (US$ Mn)
8.6.1 Mexico Contract Research Organization (CRO) Market Revenue And Forecasts to 2025 (US$ Mn)
8.6.2 Mexico Contract Research Organization (CRO) Market Revenue And Forecasts to 2025, By Type (US$ Mn)
8.6.2.1 Mexico Early Phase Development Services Market Revenue And Forecasts to 2025, By Type (US$ Mn)
8.6.3 Mexico Contract Research Organization (CRO) Market Revenue And Forecasts to 2025, By End User (US$ Mn)
PART 9. CONTRACT RESEARCH ORGANIZATION (CRO) Market –Industry Landscape
9.1 Overview
9.2 Growth Strategies in the Contract research organization (CRO) Market, 2015-2018
9.3 Inorganic Growth Strategies
9.3.1 Overview
9.3.2 Merger & Acquisitions
9.3.3 Collaborations
9.3.4 Partnership
9.3.5 Alliance
9.3.6 Agreement & Joint Venture
9.4 Organic Growth Strategies
9.4.1 Overview
9.4.2 Launch
9.4.3 Expansion & Relocation
9.4.4 Enhancements
PART 10. contract research organization (CRO) Market – Key company profiles
10.1 IQVIA
10.1.1 Key Facts
10.1.2 Business Description
10.1.3 Financial Information
10.1.4 Service Portfolio
10.1.5 SWOT Analysis
10.1.6 Key Developments
10.2 PAREXEL International Corporation
10.2.1 Key Facts
10.2.2 Business Description
10.2.3 Financial Information
10.2.4 Service Portfolio
10.2.5 SWOT Analysis
10.2.6 Key Developments
10.3 Syneos Health
10.3.1 Key Facts
10.3.2 Business Description
10.3.3 Financial Information
10.3.4 Service Portfolio
10.3.5 SWOT Analysis
10.3.6 Key Developments
10.4 Laboratory Corporation of America Holdings
10.4.1 Key Facts
10.4.2 Business Description
10.4.3 Financial Information
10.4.4 Service Portfolio
10.4.5 SWOT Analysis
10.4.6 Key Developments
10.5 PRA Health Sciences, Inc.
10.5.1 Key Facts
10.5.2 Business Description
10.5.3 Financial Overview
10.5.4 Service Portfolio
10.5.5 Swot Analysis
10.5.6 Key Developments
10.6 Charles River
10.6.1 Key Facts
10.6.2 Business Description
10.6.3 Financial Overview
10.6.4 Service Portfolio
10.6.5 Swot Analysis
10.6.6 Key Developments
10.7 ICON plc
10.7.1 Key Facts
10.7.2 Business Description
10.7.3 Financial Overview
10.7.4 Service Portfolio
10.7.5 Swot Analysis
10.7.6 Key Developments
10.8 Pharmaceutical Product Development, LLC.
10.8.1 Key Facts
10.8.2 Business Description
10.8.3 Financial Overview
10.8.4 Service Portfolio
10.8.5 SWOT Analysis
10.8.6 Key Developments
10.9 WuXi AppTec
10.9.1 Key Facts
10.9.2 Business Description
10.9.3 Financial Overview
10.9.4 Service Portfolio
10.9.5 SWOT Analysis
10.9.6 Key Developments
10.10 Medpace
10.10.1 Key Facts
10.10.2 Business Description
10.10.3 Financial Overview
10.10.4 Service Portfolio
10.10.5 SWOT Analysis
10.10.6 Key Developments
PART 11. Appendix
11.1 About The Insight Partners
11.2 Glossary of Terms
11.3 Methodology
11.3.1 Coverage
11.3.2 Secondary Research
11.3.3 Primary Research
list of tables
TABLE 1. R&D Investments by major pharmaceutical companies
TABLE 2. R&D Investments by Phrma member companies,2016
TABLE 3. Number of resgistered studies for Clinical Trials
TABLE 4. Rank of global CROs, in 2016
TABLE 5. Consolidation across the cro industry
TABLE 6. North America CONTRACT RESEARCH ORGANIZATION (CRO) market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 7. North America CONTRACT RESEARCH ORGANIZATION (CRO) market Revenue And Forecasts to 2025, By end user (US$ Mn)
TABLE 8. north america Contract research organization (CRO) Market Revenue And Forecasts to 2025, By Type (US$ Mn)
TABLE 9. North America Early phase development services Market Revenue And Forecasts to 2025, By Type (US$ Mn)
TABLE 10. North America Contract research organization (CRO) Market Revenue And Forecasts to 2025, By end user (US$Mn)
TABLE 11. US: R&D investments by pharmaceutical companies, (2015-2016)
TABLE 12. US Contract research organization (CRO) Market Revenue And Forecasts to 2025, By Type (US$ Mn)
TABLE 13. US Early Phase Development Services Market Revenue And Forecasts to 2025, By Type (US$ Mn)
TABLE 14. US Contract research organization (CRO) Market Revenue And Forecasts to 2025, By end user (US$Mn)
TABLE 15. Canada Contract research organization (CRO) Market Revenue And Forecasts to 2025, By Type (US$ Mn)
TABLE 16. Canada Early Phase Development Services Market Revenue And Forecasts to 2025, By Type (US$ Mn)
TABLE 17. Canada Contract research organization (CRO) Market Revenue And Forecasts to 2025, By end user (US$Mn)
TABLE 18. Mexico Contract research organization (CRO) Market Revenue And Forecasts to 2025, By Type (US$ Mn)
TABLE 19. Mexico Early Phase Development Services Market Revenue And Forecasts to 2025, By Type (US$ Mn)
TABLE 20. Mexico Contract research organization (CRO) Market Revenue And Forecasts to 2025, By end user (US$Mn)
TABLE 21. Recent Merger & Acquisitions in the Contract research organization (CRO) market
TABLE 22. Recent Collaborations in the Contract research organization (CRO) market
TABLE 23. Recent partnerships in the Contract research organization (CRO) market
TABLE 24. Recent alliances in the Contract research organization (CRO) market
TABLE 25. Recent agreement & joint venture in the Contract research organization (CRO) market
TABLE 26. Recent Launches in the Contract research organization (CRO) Market
TABLE 27. Recent EXPANSIONS & relocation in the Contract research organization (CRO) Market
TABLE 28. enhancements in the Contract research organization (CRO) Market
TABLE 29. Glossary of Terms, CONTRACT RESEARCH ORGANIZATION (CRO) market
list of figures
FIGURE 1. US contract research organization (CRO) market, Revenue (US$ Mn), By COuntry 2018 & 2025
FIGURE 2. North America Contract research organization (CRO) Market By type, Market Share (%), 2017
FIGURE 3. North America Contract research organization (CRO) Market By END user, Market Share (%), 2017
FIGURE 4. contract research organization (CRO) market Segmentation
FIGURE 5. North America PEST Analysis
FIGURE 6. Number of approvals for NDA & BLA (2005 to 2016)
FIGURE 7. contract research organization (CRO) market impact analysis of drivers & Restraints
FIGURE 8. North America CONTRACT RESEARCH ORGANIZATION (CRO) market – Revenue Forecasts and Analysis – 2017- 2025
FIGURE 9. North America contract research organization (CRO) Market breakdown, by Type 2017 & 2025 (%)
FIGURE 10. North America Early Phase Services Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 11. North America Drug Discovery Services Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 12. North America Pre-Clinical Trial Services Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 13. North America Clinical research services Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 14. North America laboratory services Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 15. North America post-approval services Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 16. North America CONTRACT RESEARCH ORGANIZATION (CRO) market By end user, 2017 & 2025 (%)
FIGURE 17. North America Pharmaceutical and biotechnology companies Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 18. North America medical device companies Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 19. North America contract research organization (CRO) market REVENUE overview, by Country, 2017 (US$ MN)
FIGURE 20. north america contract research organization (CRO) Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 21. North America contract research organization (CRO) Market share, By Country (2017 & 2025) (%)
FIGURE 22. US contract research organization (CRO) Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 23. Canada contract research organization (CRO) Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 24. Mexico contract research organization (CRO) Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 25. Growth Strategies in the Contract research organization (CRO) Market, 2015-2018
FIGURE 26. Inorganic Growth Strategies in the Contract research organization (CRO) Market, 2015-2018
FIGURE 27. Organic Growth Strategies in the Contract research organization (CRO) Market, 2015-2018
The List of Companies
- 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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- 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.
- 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:
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.
- 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.
- 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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