Healthcare Contract Research Organization (CRO) Market: Industry Growth, Size, Share and Forecast 2019-2025

Healthcare CRO (Contract Research Organization) Market is rapidly growing owing to increasing outsourcing activities in pharmaceutical, biopharmaceutical, biotechnological and life science industries. The services provided by CROs include biologic assay management, commercialization, preclinical research, clinical trial management, biopharmaceutical, and pharmaceutical development and clinical research. It also provides support to academic institutions, government organization and research organization. Increasing in the R&D investments from the pharmaceutical company and extensive drug development for the treatment of different chronic diseases such as metabolic disorder, neurological disorder, and immunological disorder are the prominent growth factors for the healthcare CRO market. 

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In the healthcare CRO market, the biopharmaceutical and pharmaceutical companies have the largest market share in the various end-users. CROs are essential to the biotech, MedTech and pharmaceutical industries and it supports the clients to test, refine and market the medical devices and pharmaceutical drugs. The pharmaceutical industry uses CROs due to improved global reach and access to patients, lower capital requirement, higher quality, and more efficient execution and variable cost model to reduce the use of internal resources. Drug companies are not only outsourcing the production of medicine but it also provides clinical trials and an enhancing the number of a clinical trial. CRO provides value-added services to pharmaceutical companies and plays a vital role in the drug development process. These value-added services incorporated in the drug development growth such as discovery, clinical testing, compound selection, preclinical research, and post-approval functions. 

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Healthcare CRO market is highly fragmented due to the presence of several market players that are significantly operating across the globe. Key market players of healthcare CRO include PAREXEL International Corp., LLC, LabCorp, Lambda Therapeutic Research, Ltd., Pharmaceutical Product Development (PPD), Syneos Health, PAREXEL International Corp, and Pharmaron Beijing Co. These companies provide drug development laboratory and life cycle management services. Their clients include biotechnology, medical devices, pharmaceutical and academic and government organization. In clinical trials, these companies provide the highest level of program management and clinical development services. 

Global Healthcare CRO Market -Segmentation 

By Service

• Drug Discovery & Development
• Pre-Clinical Services
• Clinical Services
• Risk Management & Pharmacovigilance
• Data Management & Technology Services
• Post Marketing and Consulting Services
• Other Services (Laboratory Services and Project Management)

By Therapeutic Area

• Cardiology
• Oncology
• Neurology
• Respiratory Diseases
• Autoimmune Diseases
• Others (Hematology & Gynecology)

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Global Healthcare CRO Market –Region  

North America           

• US
• Canada

Europe

• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific    

• China
• India
• Japan
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

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Source: Healthcare Contract Research Organization (CRO) Market