Global Healthcare Contract Research Organization Market is valued at approximately USD 40.9 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 6.6 % over the forecast period 2021-2027. Healthcare Contract Research Organization is a company that provides research services on a contract basis to various healthcare companies such as pharmaceutical, biotechnology, and medical devices industries etc. The increasing penetration of clinical trials has led to the adoption of Healthcare Contract Research Organization across the forecast period. For Instance: according to Medecins Sans Frontieres in 2019, clinical trials and research activities in the medical field are increasing rapidly such as research on antibiotic resistance, affordable pneumonia vaccine, research regarding the use of new tuberculosis drugs bedaquiline and delamanid. Rising trends of outsourcing and cost savings enabled by using CRO service enhances the market growth of healthcare contract research organizations. Also, with the increasing R&D activities by biopharmaceutical companies, the adoption & demand for Healthcare Contract Research Organization is likely to increase the market growth during the forecast period. However, lack of skilled Professionals impedes the growth of the market over the forecast period of 2021-2027.
The geographical regions for the analysis of global Healthcare Contract Research Organization market analysis include Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific dominated the market globally in terms of huge revenue share due to the presence of diverse population, increasing cases of chronic diseases. Whereas, North America is also estimated to attain the second-largest growth rate during 2021-2027 due to supporting factors such as rising research and development activities towards healthcare, growing government support and surging government expenditure in public healthcare.
Major market players included in this report are:
Charles River Laboratories
Laboratory Corporation of America Holdings (Labcorp)
Medpace Holdings Inc.
PSI CRO AG
PRA Health Sciences
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Project Management/Clinical Supply Management
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027
Target Audience of the Global Healthcare Contract Research Organization Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers