The global Healthcare CRO market is projected to grow at a considerable rate on account of the increased funding on research and development programs in the near future. Contract research outsourcing solutions deliver cutting-edge services; hence government agencies select to delegate projects to Contract Research Organizations (CROs), allowing the market to develop.
Several significant advancements in the field of disease study and drug development have played an important role in the growth of the global Healthcare CRO market. In the current situation, there is an uptick in the number of medical and pharmaceutical research institutes. This is because of the increasing need for developing new lines of treatment for chronic diseases and disorders. Therefore, the global Healthcare CRO market is anticipated to accrue enormous growth opportunities in the years to come. Moreover, the presence of a seamless industry for clinical trial and testing has played a crucial role in the growth of the global Healthcare CRO market.
Furthermore, governments and public-sector organizations have made huge investments towards improved medical research. Due to growing investment dynamics, the global Healthcare CRO market is expected to expand at a high growth level in the coming period. Additionally, the presence of an ever-expanding pharmaceutical industry also supports the growth of the global Healthcare CRO market. Besides, the need for innovative services within the healthcare sector has also boosted demand within the global Healthcare CRO market steadily.
Covid-19 Impact on Healthcare CRO Market
In addition, the current Healthcare CRO Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Healthcare CRO Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
Healthcare CRO Market Segment Overview
Based on Type, the Clinical segment has the largest share of the global Healthcare CRO market in 2020. The share is attributed to the increasing number of biologics, the need for personalized medicines, and orphan drugs, and the demand for advanced technologies. In addition, factors such as technological development, globalization of clinical trials, and demand for CROs to conduct clinical trials are contributing to the growth of this segment. According to Service, Clinical Monitoring is the largest segment in the Healthcare CRO market. The increasing number of clinical trials and the need to monitor those studies are creating more demand for the services.
Healthcare CRO Market, By Type
- Drug Discovery
- Target Validation
- Lead Identification
- Lead Optimization
- Pre-clinical
- Clinical
- Phase I Trial Services
- Phase II Trial Services
- Phase III Trial Services
- Phase IV Trial Services
· Project Management/Clinical Supply Management
· Data Management
· Regulatory/Medical Affairs
· Medical Writing
· Clinical Monitoring
· Quality Management/ Assurance
· Bio-statistics
· Investigator Payments
· Laboratory
· Patient and site Recruitment
· Technology
· Others
Healthcare CRO Market Regional Overview
Regionally, North America holds a substantial share of the global Healthcare CRO market in 2020. The increasing government support for R&D activities through grants and funds to research institutes and companies has boosted the growth of the market in this region. Likewise, the market for Healthcare CRO in the Asia Pacific has been expanding owing to the increasing outsourcing of medical services to India and China. Additionally, other factors such as the high incidence of chronic conditions, increasing population, and easy patient recruitment and retention are further support to the market’s development in this region.
Healthcare CRO Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Healthcare CRO Market Competitor overview
Some key developments and strategies adopted by manufacturers in Healthcare CRO are highlighted below.
· In August 2021, Indoco Remedies Ltd announced the receipt of GCP & GLP accreditation from the UK MHRA (Medicines and Healthcare Products Regulatory Agency) for its Clinical Research Organisation - AnaCipher, located at Hyderabad for the virtual inspection carried out from 4th – 7th May and 10th - 11th May, 2021.
Healthcare CRO Market, Key Players
· IQVIA Holdings Inc.
· Covance Inc.
· Pharmaceutical Product Development, LLC
· Parexel International Corporation
· Charles River Laboratories International, Inc.
· ICON, plc
· Medidata Solutions, Inc.
· Syneos Health
· Pharmaron
· GVK Biosciences Private Limited
· Wuxi AppTec
· MEDPACE HOLDINGS, INC.
· PRA Health Sciences
· CTI Clinical Trial & Consulting
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Healthcare CRO Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Type
- 5.2.1. Drug Discovery
- 5.2.1.1. Target Validation
- 5.2.1.2. Lead Identification
- 5.2.1.3. Lead Optimization
- 5.2.2. Pre-clinical
- 5.2.3. Clinical
- 5.2.3.1. Phase I Trial Services
- 5.2.3.2. Phase II Trial Services
- 5.2.3.3. Phase III Trial Services
- 5.2.3.4. Phase IV Trial Services
- 5.2.1. Drug Discovery
- 5.3.1. Project Management/Clinical Supply Management
- 5.3.2. Data Management
- 5.3.3. Regulatory/Medical Affairs
- 5.3.4. Medical Writing
- 5.3.5. Clinical Monitoring
- 5.3.6. Quality Management/ Assurance
- 5.3.7. Bio-statistics
- 5.3.8. Investigator Payments
- 5.3.9. Laboratory
- 5.3.10. Patient and site Recruitment
- 5.3.11. Technology
- 5.3.12. Others
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America, Middle East and Africa
6. North America Healthcare CRO Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Drug Discovery
- 6.2.1.1. Target Validation
- 6.2.1.2. Lead Identification
- 6.2.1.3. Lead Optimization
- 6.2.2. Pre-clinical
- 6.2.3. Clinical
- 6.2.3.1. Phase I Trial Services
- 6.2.3.2. Phase II Trial Services
- 6.2.3.3. Phase III Trial Services
- 6.2.3.4. Phase IV Trial Services
- 6.2.1. Drug Discovery
- 6.3.1. Project Management/Clinical Supply Management
- 6.3.2. Data Management
- 6.3.3. Regulatory/Medical Affairs
- 6.3.4. Medical Writing
- 6.3.5. Clinical Monitoring
- 6.3.6. Quality Management/ Assurance
- 6.3.7. Bio-statistics
- 6.3.8. Investigator Payments
- 6.3.9. Laboratory
- 6.3.10. Patient and site Recruitment
- 6.3.11. Technology
- 6.3.12. Others
- 6.4.1. U.S.
- 6.4.2. Canada
7. Europe Healthcare CRO Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Drug Discovery
- 7.2.1.1. Target Validation
- 7.2.1.2. Lead Identification
- 7.2.1.3. Lead Optimization
- 7.2.2. Pre-clinical
- 7.2.3. Clinical
- 7.2.3.1. Phase I Trial Services
- 7.2.3.2. Phase II Trial Services
- 7.2.3.3. Phase III Trial Services
- 7.2.3.4. Phase IV Trial Services
- 7.2.1. Drug Discovery
- 7.3.1. Project Management/Clinical Supply Management
- 7.3.2. Data Management
- 7.3.3. Regulatory/Medical Affairs
- 7.3.4. Medical Writing
- 7.3.5. Clinical Monitoring
- 7.3.6. Quality Management/ Assurance
- 7.3.7. Bio-statistics
- 7.3.8. Investigator Payments
- 7.3.9. Laboratory
- 7.3.10. Patient and site Recruitment
- 7.3.11. Technology
- 7.3.12. Others
- 7.4.1. UK
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Rest of Europe
8. Asia Pacific Healthcare CRO Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Drug Discovery
- 8.2.1.1. Target Validation
- 8.2.1.2. Lead Identification
- 8.2.1.3. Lead Optimization
- 8.2.2. Pre-clinical
- 8.2.3. Clinical
- 8.2.3.1. Phase I Trial Services
- 8.2.3.2. Phase II Trial Services
- 8.2.3.3. Phase III Trial Services
- 8.2.3.4. Phase IV Trial Services
- 8.2.1. Drug Discovery
- 8.3.1. Project Management/Clinical Supply Management
- 8.3.2. Data Management
- 8.3.3. Regulatory/Medical Affairs
- 8.3.4. Medical Writing
- 8.3.5. Clinical Monitoring
- 8.3.6. Quality Management/ Assurance
- 8.3.7. Bio-statistics
- 8.3.8. Investigator Payments
- 8.3.9. Laboratory
- 8.3.10. Patient and site Recruitment
- 8.3.11. Technology
- 8.3.12. Others
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Australia
- 8.4.5. South East Asia
- 8.4.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Healthcare CRO Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Drug Discovery
- 9.2.1.1. Target Validation
- 9.2.1.2. Lead Identification
- 9.2.1.3. Lead Optimization
- 9.2.2. Pre-clinical
- 9.2.3. Clinical
- 9.2.3.1. Phase I Trial Services
- 9.2.3.2. Phase II Trial Services
- 9.2.3.3. Phase III Trial Services
- 9.2.3.4. Phase IV Trial Services
- 9.2.1. Drug Discovery
- 9.3.1. Project Management/Clinical Supply Management
- 9.3.2. Data Management
- 9.3.3. Regulatory/Medical Affairs
- 9.3.4. Medical Writing
- 9.3.5. Clinical Monitoring
- 9.3.6. Quality Management/ Assurance
- 9.3.7. Bio-statistics
- 9.3.8. Investigator Payments
- 9.3.9. Laboratory
- 9.3.10. Patient and site Recruitment
- 9.3.11. Technology
- 9.3.12. Others
- 9.4.1. Brazil
- 9.4.2. Saudi Arabia
- 9.4.3. UAE
- 9.4.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. IQVIA Holdings Inc.
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Covance Inc.
- 10.6. Pharmaceutical Product Development, LLC
- 10.7. Parexel International Corporation
- 10.8. Charles River Laboratories International, Inc.
- 10.9. ICON, plc
- 10.10. Medidata Solutions, Inc.
- 10.11. Syneos Health
- 10.12. Pharmaron
- 10.13. GVK Biosciences Private Limited
- 10.14. Wuxi AppTec
- 10.15. MEDPACE HOLDINGS, INC.
- 10.16. PRA Health Sciences
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
