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Contract Research Organizations Market Global Opportunities And Strategies To 2021

Starting Price : $ 4000.00 $ 2680.00 | Pages : 250 | Published : July 2018 | SKU CODE : o&s003 | Format :

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CRO Market Characteristics

A Contract Research Organization (CRO) is a service provider, which offers end-to-end solutions in conducting clinical trials for biopharmaceutical and medical device companies. The core services offered by CROs to biopharmaceutical companies include initial drug discovery solutions, toxicology studies, bio-analytical services, central laboratory, site monitoring, data management services, vigilance, bio-statistics, study and development program design and consulting, regulatory affairs and a variety of post-marketing surveillance services.

Following the major reason of hiring a CRO, CROs have shifted their focus on emerging markets. CROs are focusing on conducting clinical trials in emerging countries such as China, India and Brazil to reduce drug development costs. As the sponsors of the CROs struggle with the rising cost of drug/device development, they are also challenged to improve productivity and efficiency, streamline clinical trials, and meet more rigorous regulatory and quality assurance requirements in order to sustain profitability. The cost of conducting clinical trials in developing countries is around 50% lower than that of developed countries, with the potential of less costly clinical trial enrollment and more cost-effective trial conduct.

CRO Market Competitive Landscape

Major players in the CRO market include IQVIA, Laboratory Corporation Of America Holdings, ICON Plc, PAREXEL International Corporation and Pharmaceutical Product Development (PPD), Inc.

Historically, the CRO market was fragmented, but increasing merger and acquisition activities led to the consolidation of the market. In 2017, top 9 CROs in the market held about 46% of the market with IQVIA leading the group, followed by Laboratory Corporation of America Holdings, ICON Plc, PAREXEL International and Pharmaceutical Product Development. In 2017, Laboratory Corporation of America Holdings and ICON Plc improved their expertise by acquiring Chiltern, a UK-based healthcare diagnostics, and Mapi Group, a France-based CRO, respectively.

Full service offerings have become key advantages for larger CROs over their smaller and mid-sized competitors that often specialize in a few specific functions, as even smaller biopharmaceutical companies typically prefer to conduct all outsourced development operations at the same provider, eliminating inefficiencies and delays that often arise with numerous providers working a single project.

Contract Research Organization Market Size

The global CRO market is expected to reach $70 billion by 2021, growing at a CAGR higher than 10%. This is mainly due the rising cost of drug development, increasing patent expirations of drugs and rising investments in the pharmaceutical and biologics industry in emerging economies.

Globally, pharmaceutical and biotechnology companies in the United States and Europe are increasingly outsourcing their core research activities to the CROs in developing countries owing to the cost containment pressures and demand for high quality services. Because of this, most of the multi-national CROs are now expanding their operations to developing countries in Latin America, APAC and the Eastern Europe because of lower cost of conducting clinical trials, favorable government regulations, strict intellectual property rights and low labor and other overhead costs in these regions compared to the US and Europe countries. Pharmaceutical and biotech companies in developed countries belligerently seek to reduce costs, limit future investments and realign operating models to reduce revenue levels. Thus, the economic conditions in the developed countries are expected to drive the demand for outsourcing services.  

Expanding scope of CRO solutions through technology to drive the contract research organization market. CROs are trying to expand their scope of services by providing solutions across all research and development phases through new technologies. Technological developments such as wearable health monitors, help in identifying potential patients and allow to gather huge volumes of data, without causing discomfort to the patient. Greater investments in cloud technology and big data will continue to play an important role as the industry evolves and CROs strive to become more efficient and maintain a competitive edge. These capabilities will help to expand the market audience for CROs, particularly in commercialization, where penetration is relatively low, enhancing their value proposition for biopharmaceutical companies and medical device companies.

However, the CRO market is expected to face restraints from several factors such as stringent government regulations, clinical trial failures and data safety concerns.

As organizations are getting increasingly connected through the use of new platforms such as cloud and social media, there has been a consequent rise in potential threats, complexity of attacks and a rise in the intensity of breaches. The existing security measures are inadequate to handle these challenges. It is imperative for the life sciences industry to protect their proprietary and confidential information related to their research and products. Moreover, it also deals with highly sensitive and personal data. Life Sciences companies prefer to partner with CROs or ITOs that may support and provide a high level of data security services. The contract research units need to assure the pharmaceutical companies that their process is trust worthy, of the prescribed standards and data leakage or breach are impossible. Despite the growing contract research outsourcing process, the pharmaceutical companies still consider reliability of the service provider a major challenge as there have been many cases of data breach in the past.

CRO Market Segmentation

The global CRO industry can be segmented on the basis of service type, therapeutic area and by geography.
By Service Type- The CRO market can be segmented into drug discovery, phase III, phase II, preclinical studies, phase IV, phase I and others. Among these segments, the drug discovery segment accounted for the largest segment in the global CRO market, in 2018, for about 33% of the CRO market.
By Therapeutic Area- The CRO market can be segmented into oncology, CNS disorder, cardiovascular disease, metabolic disease, infectious disease and other therapeutic area. Among these segments, the oncology CRO services segment accounted for the largest share in the CRO market by therapeutic area, in 2018, which accounted for about 26% of the CRO market.
By Geography- The global CRO market is segmented into North America, South America, Western Europe, Eastern Europe, Asia Pacific, Middle East and Africa. Among these regions. The CRO production in the North America was the largest in the world, accounting for 41% of the global CRO production in 2018. The CRO consumption in the North America accounted for about 46% of the global CRO consumption in 2018. The large market size can be attributed to the presence of a large number of pharmaceutical companies and large drug development activity in the region. The difference can be explained by the use of lower cost offshore locations for some CRO activities by US pharmaceutical firms, although the majority of outsourced activity remains within the US market.

CRO Market Trends

Increasing focus on emerging markets, strategic partnerships and rising consolidation in the CRO market are the major trends witnessed in the CRO industry.
Potential Opportunities in the CRO Market CRO analysis shows that the growing biologics market, increasing demand for outsourcing, investments in emerging economies and technological advancements, is expected to increase the potential and scope for the global CRO market.

    1.Executive Summary
  • 2.Contract Research Organizations Market Characteristics
  • 3.Porter’s Five Forces Analysis
  • 4.Global CRO Market Size And Growth
  • 4.1.Global CRO Market Historic Market Growth, Value
  • 4.1.1.Drivers Of The Market
  • 4.1.2.Restraints On The Market
  • 4.2.Global CRO Market Forecast Growth, Value
  • 4.2.1.Drivers Of The Market
  • 4.2.2.Restraints On The Market
  • 5.Global CRO Market Segmentation
  • 5.1.Global CRO Market, Segmentation By Service Type
  • Drug discovery
  • Preclinical studies
  • Phase I
  • Phase II
  • Phase III
  • Phase IV
  • Other Services
  • 5.2.Global CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Service Type
  • 5.3.Global CRO Production, Segmentation By Therapeutic Area
  • Oncology
  • Infectious diseases
  • Central nervous system
  • Cardiovascular diseases
  • Metabolic Disease
  • Other Therapeutic Area
  • 5.4.Global CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Therapeutic Area
  • 5.5.Global CRO Market, 2017, By Region
  • 5.6.Global CRO Market, 2013-2021, Historic And Forecast Growth Rate, By Region
  • 5.7.Global CRO Market, 2017, By Country
  • 5.8.Global CRO Market, 2013-2017, Historic And Forecast Growth Rate, By Country
  • 6.Global CRO Market Comparison with Macro Economic Factors
  • 6.1.CRO Market Size, Percentage of GDP, By Country
  • 6.2.Per Capita Average CRO Expenditure, By Country
  • 7.North America CRO Market Overview
  • 7.1.North America CRO Market Information
  • 7.2.North America CRO Production Historic Market Growth, Value
  • 7.3.North America CRO Production Forecast Growth, Value
  • 7.4.North America CRO Production, Segmentation By Service Type
  • 7.5.North America CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Service Type
  • 7.6.North America CRO Production, Segmentation By Therapeutic Area
  • 7.7.North America CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Therapeutic Area
  • 7.8.North America CRO Consumption Historic Market Growth, Value
  • 7.9.North America CRO Consumption Forecast Growth, Value
  • 7.1.USA CRO Market Overview
  • 7.10.1.USA CRO Market Information
  • 7.10.2.USA CRO Production Historic Market Growth, Value
  • 7.10.3.USA CRO Production Forecast Growth, Value
  • 7.10.4.USA CRO Production, Segmentation By Service Type
  • 7.10.5.USA CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Service Type
  • 7.10.6.USA CRO Production, Segmentation By Therapeutic Area
  • 7.10.7.USA CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Therapeutic Area
  • 7.10.8.USA CRO Consumption Historic Market Growth, Value
  • 7.10.9.USA CRO Consumption Forecast Growth, Value
  • 8.Asia-Pacific CRO Market Overview
  • 8.1.Asia-Pacific CRO Market Information
  • 8.2.Asia-Pacific CRO Production Historic Market Growth, Value
  • 8.3.Asia-Pacific CRO Production Market Forecast Growth, Value
  • 8.4.Asia-Pacific CRO Production, Segmentation By Service Type
  • 8.5.Asia-Pacific CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Service Type
  • 8.6.Asia-Pacific CRO Production, Segmentation By Therapeutic Area
  • 8.7.Asia-Pacific CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Therapeutic Area
  • 8.8.Asia-Pacific CRO Consumption Historic Market Growth, Value
  • 8.9.Asia-Pacific CRO Consumption Market Forecast Growth, Value
  • 8.1.China CRO Market Overview
  • 8.10.1.China CRO Market Information
  • 8.10.2.China CRO Production Historic Market Growth, Value
  • 8.10.3.China CRO Production Forecast Growth, Value
  • 8.10.4.China CRO Production, Segmentation By Service Type
  • 8.10.5.China CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Service Type
  • 8.10.6.China CRO Production, Segmentation By Therapeutic Area
  • 8.10.7.China CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Therapeutic Area
  • 8.10.8.China CRO Consumption Historic Market Growth, Value
  • 8.10.9.China CRO Consumption Forecast Growth, Value
  • 8.11.India CRO Market Overview
  • 8.11.1.India CRO Market Information
  • 8.11.2.India CRO Production Historic Market Growth, Value
  • 8.11.3.India CRO Production Forecast Growth, Value
  • 8.11.4.India CRO Production, Segmentation By Service Type
  • 8.11.5.India CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Service Type
  • 8.11.6.India CRO Production, Segmentation By Therapeutic Area
  • 8.11.7.India CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Therapeutic Area
  • 8.11.8.India CRO Consumption Historic Market Growth, Value
  • 8.11.9.India CRO Consumption Forecast Growth, Value
  • 8.12.Japan CRO Market Overview
  • 8.12.1.Japan CRO Market Information
  • 8.12.2.Japan CRO Production Historic Market Growth, Value
  • 8.12.3.Japan CRO Production Forecast Growth, Value
  • 8.12.4.Japan CRO Production, Segmentation By Service Type
  • 8.12.5.Japan CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Service Type
  • 8.12.6.Japan CRO Production, Segmentation By Therapeutic Area
  • 8.12.7.Japan CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Therapeutic Area
  • 8.12.8.Japan CRO Consumption Historic Market Growth, Value
  • 8.12.9.Japan CRO Consumption Forecast Growth, Value
  • 8.13.Australia CRO Market Information
  • 8.13.1.Australia CRO Production Historic Growth, Value
  • 8.13.2.Australia CRO Production Forecast Growth, Value
  • 8.13.3.Australia CRO Production, Segmentation By Service Type
  • 8.13.4.Australia CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Service Type
  • 8.13.5.Australia CRO Production, Segmentation By Therapeutic Area
  • 8.13.6.Australia CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Therapeutic Area
  • 8.13.7.Australia CRO Consumption Historic Growth, Value
  • 8.13.8.Australia CRO Consumption Forecast Growth, Value
  • 9.Western Europe CRO Market Overview
  • 9.1.Western Europe CRO Market Information
  • 9.2.Western Europe CRO Production Historic Growth, Value
  • 9.3.Western Europe CRO Production Forecast Growth, Value
  • 9.4.Western Europe CRO Production, Segmentation By Service Type
  • 9.5.Western Europe CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Service Type
  • 9.6.Western Europe CRO Production, Segmentation By Therapeutic Area
  • 9.7.Western Europe CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Therapeutic Area
  • 9.8.Western Europe CRO Consumption Historic Growth, Value
  • 9.9.Western Europe CRO Consumption Forecast Growth, Value
  • 9.1.UK CRO Market Overview
  • 9.10.1.UK CRO Market Information
  • 9.10.2.UK CRO Production Historic Growth, Value
  • 9.10.3.UK CRO Production Forecast Growth, Value
  • 9.10.4.UK CRO Production, Segmentation By Service Type
  • 9.10.5.UK CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Service Type
  • 9.10.6.UK CRO Production, Segmentation By Therapeutic Area
  • 9.10.7.UK CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Therapeutic Area
  • 9.10.8.UK CRO Consumption Historic Growth, Value
  • 9.10.9.UK CRO Consumption Forecast Growth, Value
  • 9.11.Germany CRO Market Information
  • 9.11.1.Germany CRO Production Historic Market Growth, Value
  • 9.11.2.Germany CRO Production Forecast Growth, Value
  • 9.11.3.Germany CRO Production, Segmentation By Service Type
  • 9.11.4.Germany CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Service Type
  • 9.11.5.Germany CRO Production, Segmentation By Therapeutic Area
  • 9.11.6.Germany CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Therapeutic Area
  • 9.11.7.Germany CRO Consumption Historic Market Growth, Value
  • 9.11.8.Germany CRO Consumption Forecast Growth, Value
  • 9.12.France CRO Market Information
  • 9.12.1.France CRO Production Historic Market Growth, Value
  • 9.12.2.France CRO Production Forecast Growth, Value
  • 9.12.3.France CRO Production, Segmentation By Service Type
  • 9.12.4.France CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Service Type
  • 9.12.5.France CRO Production, Segmentation By Therapeutic Area
  • 9.12.6.France CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Therapeutic Area
  • 9.12.7.France CRO Consumption Historic Market Growth, Value
  • 9.12.8.France CRO Consumption Forecast Growth, Value
  • 9.13.Spain CRO Market Information
  • 9.13.1.Spain CRO Production Historic Market Growth, Value
  • 9.13.2.Spain CRO Production Forecast Growth, Value
  • 9.13.3.Spain CRO Production, Segmentation By Service Type
  • 9.13.4.Spain CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Service Type
  • 9.13.5.Spain CRO Production, Segmentation By Therapeutic Area
  • 9.13.6.Spain CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Therapeutic Area
  • 9.13.7.Spain CRO Consumption Historic Market Growth, Value
  • 9.13.8.Spain CRO Consumption Forecast Growth, Value
  • 9.14.Italy CRO Market Information
  • 9.13.1.Italy CRO Production Historic Market Growth, Value
  • 9.13.2.Italy CRO Production Forecast Growth, Value
  • 9.13.3.Italy CRO Production, Segmentation By Service Type
  • 9.13.4.Italy CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Service Type
  • 9.13.5.Italy CRO Production, Segmentation By Therapeutic Area
  • 9.13.6.Italy CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Therapeutic Area
  • 9.13.7.Italy CRO Consumption Historic Market Growth, Value
  • 9.13.8.Italy CRO Consumption Forecast Growth, Value
  • 10.Eastern Europe CRO Market Overview
  • 10.1.Eastern Europe CRO Market Information
  • 10.2.Eastern Europe CRO Production Historic Market Growth, Value
  • 10.3.Eastern Europe Production Forecast Growth, Value
  • 10.4.Eastern Europe CRO Production, Segmentation By Service Type
  • 10.5.Eastern Europe CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Service Type
  • 10.6.Eastern Europe CRO Production, Segmentation By Therapeutic Area
  • 10.7.Eastern Europe CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Therapeutic Area
  • 10.8.Eastern Europe CRO Consumption Historic Market Growth, Value
  • 10.9.Eastern Europe Consumption Forecast Growth, Value
  • 10.1.Russia CRO Market Information
  • 10.10.1.Russia CRO Production Historic Growth, Value
  • 10.10.2.Russia CRO Production Forecast Growth, Value
  • 10.10.3.Russia CRO Production, Segmentation By Service Type
  • 10.10.4.Russia CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Service Type
  • 10.10.5.Russia CRO Production, Segmentation By Therapeutic Area
  • 10.10.6.Russia CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Therapeutic Area
  • 10.10.7.Russia CRO Consumption Historic Growth, Value
  • 10.10.8.Russia CRO Consumption Forecast Growth, Value
  • 11.South America CRO Market Overview
  • 11.1.South America CRO Market Information
  • 11.2.South America CRO Production Historic Growth, Value
  • 11.3.South America CRO Production Forecast Growth, Value
  • 11.4.South America CRO Production, Segmentation By Service Type
  • 11.5.South America CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Service Type
  • 11.6.South America CRO Production, Segmentation By Therapeutic Area
  • 11.7.South America CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Therapeutic Area
  • 11.8.South America CRO Consumption Historic Growth, Value
  • 11.9.South America CRO Consumption Forecast Growth, Value
  • 11.1.Brazil CRO Market Information
  • 11.10.1.Brazil CRO Production Historic Growth, Value
  • 11.10.2.Brazil CRO Production Forecast Growth, Value
  • 11.10.3.Brazil CRO Production, Segmentation By Service Type
  • 11.10.4.Brazil CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Service Type
  • 11.10.5.Brazil CRO Production, Segmentation By Therapeutic Area
  • 11.10.6.Brazil CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Therapeutic Area
  • 11.10.7.Brazil CRO Consumption Historic Growth, Value
  • 10.10.8.Brazil CRO Consumption Forecast Growth, Value
  • 12.Middle East CRO Market Overview
  • 12.1.Middle East CRO Market Information
  • 12.2.Middle East CRO Production Historic Growth, Value
  • 12.3.Middle East CRO Production Forecast Growth, Value
  • 12.4.Middle East CRO Production, Segmentation By Service Type
  • 12.5.Middle East CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Service Type
  • 12.6.Middle East CRO Production, Segmentation By Therapeutic Area
  • 12.7.Middle East CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Therapeutic Area
  • 12.8.Middle East CRO Consumption Historic Growth, Value
  • 12.9.Middle East CRO Consumption Forecast Growth, Value
  • 13.Africa CRO Market Overview
  • 13.1.Africa CRO Market Information
  • 13.2.Africa CRO Production Historic Growth, Value
  • 13.3.Africa CRO Production Forecast Growth, Value
  • 13.4.Africa CRO Production, Segmentation By Service Type
  • 13.5.Africa CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Service Type
  • 13.6.Africa CRO Production, Segmentation By Therapeutic Area
  • 13.7.Africa CRO Production, 2013-2021, Historic And Forecast Growth Rate, By Therapeutic Area
  • 13.8.Africa CRO Consumption Historic Growth, Value
  • 13.9.Africa CRO Consumption Forecast Growth, Value
  • 14.Key M&A and Strategic Partnerships in The Global CRO Market
  • 15.CRO Market Competitive Landscape
  • 15.1.Competitive Analysis Of Global CRO Market Players
  • 15.1.1.Key Players In Preclinical And Clinical Development
  • 15.2.Company Profiles
  • 15.2.1.IQVIA
  • 15.2.2.Laboratory Corporation Of America Holdings
  • 15.2.3.ICON Plc
  • 15.2.4.PAREXEL International Corporation
  • 15.2.5.Pharmaceutical Product Development (PPD), Inc.
  • 16.Customer Information
  • 17.Global CRO Market Segmentation By End-Users
  • 17.1.CRO Market Trends And Strategies
  • 18.Appendix
  • 18.1.Market Data Sources
  • 18.2.Primary Research – Interview Transcripts
  • 18.2.1.Interview – 1
  • 18.2.2.Interview – 2
  • 18.3.Research Methodology
  • 18.4.Note on Currency Conversions
  • 18.5.Research Inquiries
  • 18.6.The Business Research Company
  • 18.7.Copyright and Disclaimer
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