Dublin, Dec. 03, 2024 (GLOBE NEWSWIRE) -- The "Pharmaceutical CRO Market Size, Share & Trends Analysis Report by Type (Drug Discovery, Pre-Clinical, Clinical), Molecule Type (Small Molecules, Large Molecules), Service, Therapeutic Areas, Region, and Segment Forecasts, 2025-2030" report has been added to ResearchAndMarkets.com's offering.
The global pharmaceutical CRO market size is expected to reach USD 62.99 billion in 2030 and is projected to grow at a CAGR of 7.39% from 2025 to 2030 over the forecast period due to rising outsourcing trends and increasing R&D expenditure.
Pharmaceutical CROs provide outsourcing services to various pharmaceutical companies on a contract basis. Increasing outsourcing among pharmaceutical companies, growing investments in the R&D of new drugs, expansions in the pharmaceutical industry, and CRO support in reducing operational and capital expenses are some of the major factors anticipated to propel market growth in the forecast period.
Besides, increasing demand for CRO is driven by rising requirements for improved drug development, product maintenance, and related services, which is expected to drive market growth in the coming years. In addition, the substantial presence of key market players and ongoing clinical trials globally are expected to drive market growth. For instance, according to the U.S. National Library of Medicine, about 83,230 clinical trial studies are currently active and recruiting globally, which is anticipated to contribute to market growth. Likewise, increasing drug development activities, strategic initiatives such as innovation & acquisitions, the growing presence of pharmaceutical companies, and a surge in demand for pharmaceutical CRO innovative services are key factors propelling the market growth.
Furthermore, growing technological innovations pertaining to developing novel pharmaceutical drugs and rising research and development for biologics are anticipated to influence the market positively. Currently, pharmaceutical companies are increasingly bolstering their capacities in CRO's newer, highly specific expertise and technologies for the innovation of various small & large molecules. In addition, most pharmaceutical CROs have an emerging demand for small molecule drug candidates' development as CRO supports early discovery and preclinical drug development studies. For instance, in March 2023, Crown Bioscience & JSR Life Sciences Company mentioned it's a new site in Singapore, which will support the company in expanding its capacity for biotech & pharma companies. The site will help companies that engage in preclinical & translational oncology drug discovery and development.
Pharmaceutical CRO Market Report Highlights
- The clinical segment dominated the market with a share of 75.60% in 2024 due to changing drug development scenarios and the need for sophisticated capabilities to help pharmaceutical companies advance drug manufacturing. In addition, cost-effectiveness and the increasing number of CROs are some of the key factors positively affecting market growth.
- The Small molecules account for 69.14% of all pharmaceutical drugs and are used to treat a range of conditions, including migraines, fever, diabetes, cancer, and other prevalent diseases. Besides, the expanding pipeline of small molecule drugs is anticipated to create opportunities for CROs to provide services.
- Based on service, clinical monitoring segment dominated the market with a share in 2024, which is attributed to the increase in the adoption of monitoring of regulatory requirements and clinical trial management, which includes protocol development to data analysis, making it a suitable option for a wide range of clinical trials.
- In terms of therapeutic areas, the oncology segment held the largest market share of 30.66% in 2024. The segment is driven by the growing incidence of cancer, the rising aging population, and the robust demand for pharmaceuticals, contributing to its prominence in this field.
- Asia Pacific dominated the market globally with a revenue share of 46.40% in 2024. The region's high share is due to an increased number of actively functioning CROs, especially in China and Japan, among others.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
The leading players in the Pharmaceutical CRO market include:
- Parexel
- ICON
- Laboratory Corporation of America
- Thermo Fisher Scientific
- Medpace
- IQVIA
- CTI Clinical Trial & Consulting
- WuXi AppTec
- Veeda Clinical Research
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 231 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $41.22 Billion |
| Forecasted Market Value (USD) by 2030 | $62.99 Billion |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Pharmaceutical CRO Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Market Dynamics
3.2.1. Market driver analysis
3.2.1.1. Increasing Rate of Clinical Research to Boost Demand For Outsourcing Services
3.2.1.2. Surge in the Demand for Personalized Medicine and Advanced Therapeutics
3.2.1.3. Rising Mergers and Collaboration Activities in the CRO Market
3.2.1.4. Growing Demand for Outsourcing Services Across Developing Economies
3.2.1.5. Rising Focus of Life Sciences Companies on Their Core Competencies
3.2.2. Market restraint analysis
3.2.2.1. Compliance Issues While Outsourcing
3.2.2.2. Quality Issues of CRO Services
3.2.2.3. Intellectual Property Right Issues
3.3. Technology Advancements in Pharmaceutical CRO Industry
3.4. R&D Investment Perspective, by Key Sponsors
3.5. Pharmaceutical CRO Market Analysis Tools
Chapter 4. Pharmaceutical CRO Market: Type Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Global Pharmaceutical CRO Market Type Movement Analysis
4.3. Global Pharmaceutical CRO Market Size & Trend Analysis, by Type, 2018 to 2030 (USD Million)
4.4. Drug Discovery
4.5. Pre-Clinical
4.6. Clinical
Chapter 5. Pharmaceutical CRO Market: Molecule Type Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Global Pharmaceutical CRO Market Molecule Type Movement Analysis
5.3. Global Pharmaceutical CRO Market Size & Trend Analysis, by Molecule Type, 2018 to 2030 (USD Million)
5.4. Small Molecules
5.5. Large Molecules
Chapter 6. Pharmaceutical CRO Market: Service Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. Global Pharmaceutical CRO Market Services Movement Analysis
6.3. Global Pharmaceutical CRO Market Size & Trend Analysis, by Service, 2018 to 2030 (USD Million)
6.4. Project Management/Clinical Supply Management
6.5. Data Management
6.6. Regulatory/Medical Affairs
6.7. Medical Writing
6.8. Clinical Monitoring
6.9. Quality Management/ Assurance
6.10. Biostatistics
6.11. Investigator Payments
6.12. Laboratory
6.13. Patient And Site Recruitment
6.14. Technology
Chapter 7. Pharmaceutical CRO Market: Therapeutic Areas Estimates & Trend Analysis
7.1. Segment Dashboard
7.2. Global Pharmaceutical CRO Market Therapeutic Areas Movement Analysis
7.3. Global Pharmaceutical CRO Market Size & Trend Analysis, by Therapeutic Areas, 2018 to 2030 (USD Million)
7.4. Oncology
7.5. CNS Disorders
7.6. Infectious Diseases
7.7. Immunological Disorders
7.8. Cardiovascular Disease
7.9. Respiratory Diseases
7.10. Diabetes
7.11. Ophthalmology
7.12. Pain Management
Chapter 8. Pharmaceutical CRO Market: Regional Estimates & Trend Analysis
8.1. Regional Market Share Analysis, 2023 & 2030
8.2. Regional Market Dashboard
8.3. Market Size, & Forecasts Trend Analysis, 2018 to 2030
Chapter 9. Competitive Landscape
9.1. Company/Competition Categorization
9.2. Service Heat Map Analysis
9.3. Pharmaceutical CRO Market Share Analysis,2024
9.4. Company Profiles/Listing
- Parexel
- ICON
- Laboratory Corporation of America Holdings
- Thermo Fisher Scientific
- Medpace
- IQVIA
- CTI Clinical Trial & Consulting
- WuXi AppTec
- Veeda Clinical Research
For more information about this report visit https://www.researchandmarkets.com/r/xnlyc3
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