Press release
Global Contract Research Organization (CRO) Services Market Size, Share and Trends is expected to grow at an 9% CAGR 2025 to 2030
A contract research organization (CRO) provides comprehensive clinical trial services for the pharmaceutical, biotechnology, and medical device sectors. CRO services majorly include clinical research services, early-phase development services, laboratory services, consulting services, among others. Some of the typical reasons why the pharmaceutical, biotechnology, and medical devices industries outsource to CROs include, better return on R&D investments, lack of internal capabilities (esp. small biopharma companies), increasing complexity in developing targeted therapeutic areas like immuno-oncology therapies, stringent regulatory requirements, to focus on core competencies, strategic choice, and time and cost-efficiency among others.
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Growing Investments from Governments, Private Companies, and Venture Capitalists to Drive Market Growth
In recent years, fundings and investments in CRISPR technology have been significant, showcasing the growing interest and support for this innovative field. In February 2024, CRISPR Therapeutics secured approximately USD 280 million through an agreement to sell its common shares to a select group of institutional investors. This investment aims to accelerate their gene-editing programs and expand their therapeutic pipeline. Another notable example is the Indian biotechnology start-up CrisprBits, which raised USD 250,000 in pre-seed funding from US-based VJ Group in February 2023. This funding is intended for developing CRISPR-based diagnostics to detect pathogens and antimicrobial resistance genes. Likewise, in July 2023, Pfizer Inc. made a USD 25 million equity investment in Caribou Biosciences, Inc. a leading clinical-stage CRISPR genome-editing biopharmaceutical company. These examples highlight the substantial financial support and confidence in the potential of CRISPR technology.
Market trend towards full-service CROs/one-stop-shop model
The shift toward full-service CROs is driven by the complexities of modern drug development. Biopharma companies prefer CROs that offer end-to-end services, from pre-clinical research to commercialization, ensuring streamlined processes, cost efficiency, and reduced timelines. Full-service CROs provide scalable resources, specialized expertise, and global reach, enabling seamless international trials and regulatory compliance. Their ability to manage entire projects eliminates the need for multiple vendors, improving efficiency. With advanced technologies and therapeutic expertise, these CROs deliver high-quality outcomes, making them the preferred choice for navigating the evolving drug development landscape and accelerating market entry.
Competitive Landscape Analysis
The global contract research organization (CRO) services market is marked by the presence of established and emerging market players such as IQVIA, Labcorp, Syneos Health, Thermo Fisher Scientific, Parexel, ICON, Charles River, WUXI Apptec, Pharmacon Beijing, and SGS; among others. Some of the key strategies adopted by market players include new service launches, strategic partnerships and collaborations, and geographic expansion.
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Market Segmentation
This report by Medi-Tech Insights provides the size of the global contract research organization (CRO) services market at the regional- and country-level from 2023 to 2030. The report further segments the market based on service type, therapy area, end user.
Market Size & Forecast (2023-2030), By Service Type, USD Million
Clinical Research Services
By Phase
Phase III
Phase II
Phase I
Phase IV
By Study Design
Interventional
Real World Evidence (RWE)
Early-phase Development Services
Chemistry, Manufacturing and Controls Services
Preclinical Services
Pharmacokinetics/ Pharmacodynamics Services
Toxicology Testing Services
Other Preclinical Services
Discovery Studies
Laboratory Services
Analytical Testing Services
Physical Characterization Services
Raw Material Testing Services
Batch Release Testing Services
Stability Testing Services
Other Analytical Testing Services
Bioanalytical Testing Services
Consulting Services
Other Services
Market Size & Forecast (2023-2030), By Therapy Area, USD Million
Oncology
Infectious Diseases
CVS Disorders
Neurology
Vaccines
Endocrinology
Immunological Disorders
Mental Health Disorders
Dermatology
Ophthalmology
Others
Market Size & Forecast (2023-2030), By End User, USD Million
Pharmaceutical & Biotechnology Companies
Medical Device Companies
Other End Users
Find more related report:
Immuno-Oncology (IO) Market: https://meditechinsights.com/immuno-oncology-market/
Clinical Trial Supplies Market: https://meditechinsights.com/clinical-trial-supplies-market/
Oncology Information System Market: https://meditechinsights.com/oncology-information-system-market/
Contact:
Ruta Halde
Associate, Medi-Tech Insights
Phone: +32 498 86 80 79
Email: info@meditechinsights.com
Website: https://meditechinsights.com/
About Medi-Tech Insights
Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy. Our methodology includes rigorous secondary research combined with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply side decision-makers.
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