Healthcare Contract Research Outsourcing Market

Healthcare Contract Research Outsourcing Market by Services (Technology, Laboratory, Bio-statistics, Clinical Monitoring, Regulatory/Medical Affairs, Project Management/Clinical Supply Management, Patient & Site Recruitment, Investigator Payments, Quality Management/Assurance, Medical Writing, Data Management, and Others), Types (Pre-Clinical, Clinical [Phase I Trial Services, Phase II Trial Services, Phase III Trial Services, and Phase IV Trial Services], and Drug Discovery [Lead Optimization, Target Validation, and Lead Identification]), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: ICT-SE-3730
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 2
  • No. Of Pages: 156
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The global healthcare contract research outsourcing market size was valued at USD 40.88 billion in 2020 and is projected to reach USD 67.88 billion by 2028, expanding at a CAGR of 6.4 % during the forecast period, 2021-2028. The growth of the market is attributed to the growing preference for outsourcing activities due to cost and time constraints.


Healthcare Contract Research Outsourcing Market Key Takeaways

A contract research organization (CRO), also known as clinical research organization is a service organization that offers provision to the biotechnology, pharmaceutical industries, and various government research organization in the form of outsourced research facilities, which is available for both medical devices and drugs. CROs range from small niche specialty groups to large global full service administrations. The key role of the CRO is to supervise, plan, execute, and coordinate the procedures affiliated in the development of a clinical trial, as CROs are central contact point between the client and other trial actors. Services offered by this organizations are pharmacovigilance to post-approval services and drug discovery to commercialization along with these, it also offers expertise in project management, data management of research, research compliance, clinical study management, and in many other areas.

The COVID-19 pandemic outbreak had significant impact on the market. During the pandemic, the lockdown imposed by government bodies across the globe resulted in suspended enrolment in most ongoing clinical studies and delays in starting new clinical trials by leading market players in the pharmaceutical industry, which hampered the demand of these services. However, the demand for COVID-19 testing, treatment, and vaccine development has risen, which increased the demand for healthcare CRO outsourcing.

Market Trends, Drivers, Restraints, and Opportunities

  • Surging number of patent expiration in healthcare industry is projected to escalate the market expansion during the forecast period.
  • Growing investment by key players in non-clinical and clinical research activities is one of the key factors driving the market growth.
  • Rising demand for effective medical devices and drugs coupled with surging R&D programs is projected to boost the market during the forecast period.
  • Lack of skilled professionals acts as a major challenge that can restrict the market growth in the coming years.
  • Escalating development in biologics and drugs is anticipated to create significant growth opportunities for the market.

Scope of the Report

The report on the global healthcare contract research outsourcing market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Healthcare Contract Research Outsourcing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Services (Technology, Laboratory, Bio-statistics, Clinical Monitoring, Regulatory/Medical Affairs, Project Management/Clinical Supply Management, Patient & Site Recruitment, Investigator Payments, Quality Management/Assurance, Medical Writing, Data Management, and Others), and Types (Pre-Clinical, Clinical [Phase I Trial Services, Phase II Trial Services, Phase III Trial Services, and Phase IV Trial Services], and Drug Discovery [Lead Optimization, Target Validation, and Lead Identification])

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Syneos Health; GVK Biosciences Pvt. Ltd.; ICON Plc; Pharmaceutical Product Development, Inc.; IQVIA; and Charles River Laboratory International, Inc.

Market Segment Insights

Rising need drives the clinical monitoring segment

Based on services, the global healthcare contract research outsourcing market is divided into technology, laboratory, bio-statistics, clinical monitoring, regulatory/medical affairs, project management/clinical supply management, patient & site recruitment, investigator payments, quality management/assurance, medical writing, data management, and others. The clinical monitoring segment is projected to expand at robust growth rate during the forecast period due to rising need for monitoring ongoing clinical trial studies. However, the regulatory/medical affairs segment is anticipated to expand at a substantial CAGR during the forecast period owing to maintain compliance and growing demand to acquire approval for new drugs or devices.

 Clinical segment to grow at high CAGR

On the basis of types, the market is segregated into pre-clinical, clinical, and drug discovery. The clinical segment is further segregated into phase I trial services, phase II trial services, phase III trial services, and phase IV trial services. The drug discovery segment is sub-categorized as lead optimization, target validation, and lead identification. The clinical segment is estimated to grow at high CAGR during the forecast period owing to the increasing need of personalized medicine, rising number of biologics, and escalating demand for advanced technologies. On the other hand, the pre-clinical segment is anticipated to register significant growth during the projected period attributed to the rising need to curb R&D expenses and increase in the number of preclinical trials involving large molecules.

Asia Pacific to constitute a key market share

In terms of region, the global healthcare contract research outsourcing market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to constitute a key share of the market during the projected period owing to the favorable government initiatives, easy patient recruitment and retention, and high prevalence of chronic conditions in the region. However, the market of North America is anticipated to grow at a rapid pace during the forecast period due to the growing government support for R&D activities and increasing number of trials conducted and outsourced in the region.


Healthcare Contract Research Outsourcing Market By Regions

Segments

Segments Covered in the Report
The global healthcare contract research outsourcing market has been segmented on the basis of

Services
  • Technology
  • Laboratory
  • Bio-statistics
  • Clinical Monitoring
  • Regulatory/Medical Affairs
  • Project Management/Clinical Supply Management
  • Patient & Site Recruitment
  • Investigator Payments
  • Quality Management/Assurance
  • Medical Writing
  • Data Management
  • Others
Types
  • Pre-Clinical
  • Clinical
    • Phase I Trial Services
    • Phase II Trial Services
    • Phase III Trial Services
    • Phase IV Trial Services
  • Drug Discovery
    • Lead Optimization
    • Target Validation
    • Lead Identification
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Syneos Health
  • GVK Biosciences Pvt. Ltd.
  • ICON Plc
  • Pharmaceutical Product Development, Inc.
  • IQVIA
  • Charles River Laboratory International, Inc.

Competitive Landscape

Key players competing in the global healthcare contract research outsourcing market are Syneos Health; GVK Biosciences Pvt. Ltd.; ICON Plc; Pharmaceutical Product Development, Inc.; IQVIA; and Charles River Laboratory International, Inc. Companies are focusing on providing various types of services to maintain their competitive position in the market. Companies have been widely engaged in strategic partnership, merger & acquisition, new product launch, and collaborations to boost their market share and acquiring new buyers.

For instance, in October 2019, Society for Clinical Research Sites, a US based global and first organization completely dedicated to representing the interest of clinical research sites expanded its collaboration with the Parexel, a US based biopharmaceutical service provider. The company initially joined as a Site Engagement Partner and managed many important initiatives dedicated to improving the experience of the patient in clinical trials.

Healthcare Contract Research Outsourcing Market By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Healthcare Contract Research Outsourcing Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Healthcare Contract Research Outsourcing Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Healthcare Contract Research Outsourcing Market - Supply Chain
  4.5. Global Healthcare Contract Research Outsourcing Market Forecast
     4.5.1. Healthcare Contract Research Outsourcing Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Healthcare Contract Research Outsourcing Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Healthcare Contract Research Outsourcing Market Absolute $ Opportunity
5. Global Healthcare Contract Research Outsourcing Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Healthcare Contract Research Outsourcing Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Healthcare Contract Research Outsourcing Demand Share Forecast, 2019-2026
6. North America Healthcare Contract Research Outsourcing Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Healthcare Contract Research Outsourcing Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Healthcare Contract Research Outsourcing Demand Share Forecast, 2019-2026
7. Latin America Healthcare Contract Research Outsourcing Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Healthcare Contract Research Outsourcing Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Healthcare Contract Research Outsourcing Demand Share Forecast, 2019-2026
8. Europe Healthcare Contract Research Outsourcing Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Healthcare Contract Research Outsourcing Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Healthcare Contract Research Outsourcing Demand Share Forecast, 2019-2026
9. Asia Pacific Healthcare Contract Research Outsourcing Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Healthcare Contract Research Outsourcing Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Healthcare Contract Research Outsourcing Demand Share Forecast, 2019-2026
10. Middle East & Africa Healthcare Contract Research Outsourcing Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Healthcare Contract Research Outsourcing Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Healthcare Contract Research Outsourcing Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Healthcare Contract Research Outsourcing Market: Market Share Analysis
  11.2. Healthcare Contract Research Outsourcing Distributors and Customers
  11.3. Healthcare Contract Research Outsourcing Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Syneos Health GVK Biosciences Pvt. Ltd. ICON Plc Pharmaceutical Product Development, Inc. IQVIA Charles River Laboratory International, Inc.
Segments Covered in the Report
The global healthcare contract research outsourcing market has been segmented on the basis of

Services
  • Technology
  • Laboratory
  • Bio-statistics
  • Clinical Monitoring
  • Regulatory/Medical Affairs
  • Project Management/Clinical Supply Management
  • Patient & Site Recruitment
  • Investigator Payments
  • Quality Management/Assurance
  • Medical Writing
  • Data Management
  • Others
Types
  • Pre-Clinical
  • Clinical
    • Phase I Trial Services
    • Phase II Trial Services
    • Phase III Trial Services
    • Phase IV Trial Services
  • Drug Discovery
    • Lead Optimization
    • Target Validation
    • Lead Identification
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Syneos Health
  • GVK Biosciences Pvt. Ltd.
  • ICON Plc
  • Pharmaceutical Product Development, Inc.
  • IQVIA
  • Charles River Laboratory International, Inc.

Key players competing in the global healthcare contract research outsourcing market are Syneos Health; GVK Biosciences Pvt. Ltd.; ICON Plc; Pharmaceutical Product Development, Inc.; IQVIA; and Charles River Laboratory International, Inc. Companies are focusing on providing various types of services to maintain their competitive position in the market. Companies have been widely engaged in strategic partnership, merger & acquisition, new product launch, and collaborations to boost their market share and acquiring new buyers.

For instance, in October 2019, Society for Clinical Research Sites, a US based global and first organization completely dedicated to representing the interest of clinical research sites expanded its collaboration with the Parexel, a US based biopharmaceutical service provider. The company initially joined as a Site Engagement Partner and managed many important initiatives dedicated to improving the experience of the patient in clinical trials.

Healthcare Contract Research Outsourcing Market By Key Players

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