In 2023, the leading contract research organizations worldwide included Laboratory Corporation of America Holdings, Thermo Fisher Scientific, and IQVIA. The first ranked company, Thermo Fisher Scientific, which acquired Pharmaceutical Product Development (PPD) in 2021, generated over 23 billion U.S. dollars in revenue through its clinical research business. Contract research organizations Contract research organizations (CROs) are companies that are contracted by larger pharmaceutical companies to manage select aspects of clinical trials. Today, CROs are essential for pharmaceutical research and development. Pharmaceutical companies are spending more money than ever on research and development, and there is no indication that spending will decrease in the future. Evidence suggests that CROs will become even more valuable. The clinical CRO market is expected to increase to over 100 billion U.S. dollars by the beginning of the next decade. Pharmaceutical research and development Globally, Roche and Johnson & Johnson will be the top pharmaceutical companies based on their projected research and development spending. There are regional differences in research and development among pharmaceutical companies. Of all pharmaceutical companies globally, those based in the U.S. develop the highest number of new chemical or biological entities.

The U.S. Contract Research Organization (CRO) Services Market size was valued at USD 32.99 USD Billion in 2023 and is projected to reach USD 70.68 USD Billion by 2032, exhibiting a CAGR of 11.5 % during the forecast period. The U.S. Contract Research Organization (CRO) market includes organizations offering issued contracts for research services to pharmaceutical, biotechnology, and medical device companies. These renderings cover broadly clinical trials, regulatory affairs, data management, biostatistics, and pharmacovigilance. CROs are fully utilized by pharmaceutical companies to enhance drug development procedures, curb costs, and shorten the drug market entry period. Ranges cover early-stage phase clinical trials and post-marketing surveillance. Key trends in the market comprise the introduction of CRO services which are specialized, growing virtual trials and decentralized clinical trials, and the use of AI and real-world evidence in clinical research is the fourth trend. US CRO services are a vital part of evolving and globalizing the pharmaceutical industry, which allows drug development endeavors to achieve success and operate efficiently. Key drivers for this market are: Rising Prevalence of Poultry Diseases is Anticipated to Drive the Market Growth. Potential restraints include: Limited Availability of Experienced Workforce is Expected to Restrict Market Growth. Notable trends are: Increasing Number of Hospitals and ASCs Identified as Significant Market Trend.

This statistic shows the forecasted total addressable contract research organization (CRO) market worldwide in 2018, by function. It is estimated that the total addressable market in the function of discovery will reach 7.35 billion U.S. dollars in 2018.

Snapshot img

Contract Research Organization Market Size 2025-2029

The contract research organization (CRO) market size is forecast to increase by USD 85.3 billion at a CAGR of 14.6% between 2024 and 2029.

The market is experiencing significant growth due to the expansion of the biopharmaceutical industry and the increasing number of clinical trials. The biopharmaceutical sector's growth is driven by the rising prevalence of chronic diseases, the ongoing research and development of new treatments, and the integration of telemedicine and gene therapy advancements. Additionally, CROs provide cost savings and efficiency to pharmaceutical and biotech companies by managing clinical trials and regulatory compliance. BioAgile Therapeutics, a leading company offers contract research organization (CRO) services such as comprehensive clinical research solutions, including medical writing, clinical data management, site management, and regulatory services tailored for pharmaceuticals and medical devices.

What will be the Size of the Contract Research Organization (CRO) Market during the forecast period?

Request Free Sample

The market encompasses a diverse range of services essential to pharmaceutical and biotechnology companies in their quest for new drug discoveries and regulatory approvals. Key areas of focus include oncology research, pharmaceutical development, clinical trial management, regulatory affairs, pharmacovigilance, drug discovery, clinical trial design, and drug safety. CROs also provide expertise in personalized medicine, clinical data management, data analysis, biostatistics, clinical operations, medical research, and healthcare consulting. Additionally, they offer services related to healthcare technology, immunotherapy, cell therapy, precision medicine, drug delivery, clinical trial recruitment, biomarker discovery, medical device development, and healthcare analytics. CROs play a pivotal role in various phases of pharmaceutical development, from early-stage research to post-market surveillance, enabling healthcare innovation and investment in the life sciences sector.

How is this Contract Research Organization (CRO) Industry segmented?

The contract research organization (CRO) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Clinical research
  Early phase development
  Laboratory
  Regulatory consulting


End-user

  Pharmaceutical and biopharmaceutical companies
  Medical device companies
  Academic institutes


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  Asia
  Rest of World (ROW)

By Application Insights

The clinical research segment is estimated to witness significant growth during the forecast period. Contract Research Organizations (CROs) provide essential clinical research services, overseeing the strategic planning, execution, and oversight of clinical trials. Their expertise includes designing trial protocols, selecting investigative sites, and managing patient recruitment. CROs ensure regulatory compliance, implement rigorous monitoring and maintain data quality throughout the trial process. This accelerates drug development, enhancing efficiency and compliance. Research centers collaborate with CROs for tissue-based clinical research, funded by key players or governments, expanding their research and development capabilities. CROs offer services in various sectors, including pharmaceuticals, biotechnology, oncology drugs, drug development, clinical operations, oncology clinical trials, immunological disorders, regulatory affairs, biopharmaceuticals, analytical testing, respiratory disorders, healthcare, product approval, raw material testing, diabetes, target identification, data analytics, and medical devices.

Their role is crucial in the development of new treatments for cardiovascular diseases, genomic testing, cell gene therapy, and genomic testing devices. CROs also provide quality assurance, regulatory consulting, investments, mergers, productivity research services, patient population management, and clinical trial supplies.

Get a glance at the market report of share of various segments Request Free Sample

The Clinical research segment was valued at USD 31.00 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market size of various regions, Request Free Sample

The market in North America holds a significant share due to the presence of numerous pha

For 2022, it is estimated that the global CRO market stood at some 57 billion U.S. dollars. This statistic shows the market size of contract research organizations (CROs) globally in 2022 and a forecast for 2032.

The Contract Research Organization (CRO) Services Market size was valued at USD 82.60 USD Billion in 2023 and is projected to reach USD 188.39 USD Billion by 2032, exhibiting a CAGR of 12.5 % during the forecast period.A Contract Research Organization is a specialised business enterprise that gives comprehensive studies offerings to pharmaceutical, biotechnology, and medical tool industries on a contractual foundation those services include medical trials control regulatory affairs information control biostatistics and clinical writing .CROs provide expertise from skilled experts like researchers physicians scientists and regulatory experts helping groups streamline drug improvement methods they provide flexibility in assignment control allowing corporations to scale studies efforts successfully CROs perform globally , accomplishing studies in diverse areas and having access to numerous patient populations for medical trials their effect consists of increased drug improvement decreased time to market fee financial savings via outsourcing access to know-how worldwide expansion possibilities and chance mitigation in studies activities .CRO performs a essential role in advancing clinical research and improving and efficiency and effectiveness of studies and development in the life sciences industry. Key drivers for this market are: Increasing Prevalence of Chronic Diseases and Introduction of Innovative Devices to Drive the Demand for C-arms . Potential restraints include: Lack of Skilled Professionals to Restrain Growth of the Market. Notable trends are: Increasing Number of Hospitals and ASCs Identified as Significant Market Trend.

As per Cognitive Market Research's latest published report, the Global CRO services market size was USD 73.38 billion in 2022 and it is forecasted to reach USD 163.48 billion by 2030. CRO services Industry's Compound Annual Growth Rate will be 12.1% from 2023 to 2030. What is Driving CRO services Industry Growth?

Rise in the clinical trials majorly drives the growth of the CRO services market. ClinicalTrials.gov presently contains 441,524 trials in all 50 states and 221 countries. ClinicalTrials.gov received around 4.5 million visits per month as of March 2021. These clinical trials often require different services that can be sourced by contract research organizations. This factor drives the growth of the market.

The development of new and innovative technologies is expected to provide numerous opportunities for the growth of the market. The use of novel technology by CROs adds value across the development and delivery cycle, from early clinical trials to the commercialization and monitoring of new medical treatments. Sponsors gain from these breakthroughs, as do patients, who benefit from earlier access to innovative, more personalized medicines. What are CRO services?

CRO services or contract research organization services are the services that provide clinical trial services for the pharmaceutical, biotechnology, and medical device industries. These services often include regulatory affairs, clinical trial planning, site selection and initiation, recruitment support, clinical monitoring, data management, trial logistics, biostatistics, medical writing, and project management.

This statistic shows the Investments made by clinical research organizations (CROs) from 2009 to 2014, by phase. Pre-clinical investment increased from 4.7 billion U.S. dollars in 2009 up to 5.5 billion U.S. dollars in 2014.

This statistic shows the total contract research organization (CRO) market worldwide from 2015 to 2024. It was estimated that in 2023, the total market of CROs will be around 88 billion U.S. dollars worldwide.

The Preclinical Contract Research Organization (CRO) market plays a pivotal role in the pharmaceutical and biotechnology industries by offering essential services in the early stages of drug development. Preclinical CROs provide invaluable support in conducting experiments and studies needed to assess the safety and

This statistic displays the projected annual revenue for global pharmaceutical contract research organizations (CROs) from 2016 to 2021, by location. Asian-Pacific CRO revenues were estimated at 4.9 billion U.S. dollars in 2016 compared to some 30.5 billion in the rest of the world.

This statistic shows the market share of clinical contract research organizations (CROs) worldwide as of 2016, by company. As of that year, the market share of Quintiles was 13 percent and the market share of LabCorp was four percent amongst all clinical CROs worldwide.

The Preclinical Contract Research Organization (CRO) market is a vital segment of the pharmaceutical and biotechnology industries, serving as a bridge between drug discovery and clinical trials. Preclinical CROs provide essential services, including in vitro and in vivo testing, toxicology assessments, pharmacology

The Contract Research Organization (CRO) market has undergone significant evolution over the past few decades, driven by the growing demand for cost-effective and efficient solutions in the pharmaceutical, biotechnology, and medical device sectors. As companies increasingly seek to streamline their drug development

The Pharmaceutical Contract Research Organization (CRO) Services market has emerged as a vital component of the global pharmaceutical landscape, providing essential support to biotech and pharmaceutical companies during the complex process of drug development. As these companies face increasing pressure to expedite

The Non-Clinical Contract Research Organization (CRO) Services market is a vital segment of the broader healthcare and pharmaceutical landscape, providing essential support for drug development and testing processes that do not involve human subjects. This sector encompasses a wide range of services, including precl

By the year 2023, the size of the clinical segment in the global pharmaceutical CRO market was estimated to grow to 56.5 billion U.S. dollars. This graph shows the estimated global pharmaceutical CRO market size growth by pre-clinical, clinical and discovery phase from 2015 to 2024, in billions of U.S. dollars.

The Exosome Contract Research Organization (CRO) market is rapidly evolving, becoming a pivotal component in the fields of biotechnology and pharmaceuticals. Exosomes, which are nanoscale vesicles secreted by cells, play a crucial role in intercellular communication and have emerged as significant biological markers