Frequently Asked Questions
The global contract research organization services market was valued at USD 74.2 Billion in 2022.
The contract research organization services market is expected to grow at a CAGR of 5.7% between 2023 and 2030, reaching USD 171.3 Billion in 2030.
Phase III is the leading segment by Application, holding over 30% share in value in 2022.
The infectious disease segment governs the global demand for contract research organization services, holding a massive share of over 70% in 2022.
The pharmaceutical & biotechnological companies’ equipment segment is expected to post the highest CAGR during the forecast period.
North America is fueling the growth of the contract research organization services industry, with an over one-third share in 2022.
The top players include BIO Agile Therapeutics, Novotech Health Holding, Parexel International, and Firma Clinical Research.
The major market drivers are the increasing complexity of clinical trials, outsourcing research and development activities, and the rise of precision medicine and personalized therapies.
The major market restraints are stringent regulatory environment and quality control and assurance challenges.
The rise of precision medicine and personalized therapies, real-world evidence studies, emerging markets, and advancements in digital technologies.