Contract Research Organization (CRO) Market Set to Surpass $113 Billion by 2031 Amid Rising R&D Outsourcing and Biotech Expansion | The Insight Partners

Increasing complexity of clinical trials, demand for cost-efficient research, and growing biologics and biosimilars development drive robust growth across global CRO markets.

/EIN News/ -- US & Canada, May 07, 2025 (GLOBE NEWSWIRE) -- According to a new, comprehensive report from The Insight Partners, the contract research organization market is growing significantly owing to increased outsourcing of R&D. The report runs an in-depth analysis of market trends, key players, and future opportunities. The contract research organization market is analyzed based on service type, product type, application, and end user.

Contract Research Organization Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Service Type, Product Type, Application, End User, and Geography you can easily download a sample PDF of the report - https://www.theinsightpartners.com/sample/TIPBT00002008/

Overview of Report Findings 

1. Market Growth: The global contract research organization market is expected to reach US$ 113.79 billion by 2031 from US$ 65.39 billion in 2024; it is estimated to register a CAGR of 8.2% during the forecast period. The contract research organization (CRO) industry is witnessing robust growth due to the growing need for outsourced clinical trial service, higher R&D spending in biotechnology and pharma companies, and heightened complexity in clinical trials. The market is also being supported by technological advancements, including AI and data analytics, to improve trial efficiency and patient recruitment. The market in North America is currently leading; likewise, the market in Asia Pacific is expanding at a high pace due to reduced costs of operations and increased patient population.
   
2. Expansion of Pharmaceutical and Biotechnology Companies: The demand for specialized research services further increases (particularly in drug discovery, preclinical research, and clinical trials), with pharma and biotech companies expanding their operations and venturing into new therapeutic categories or geographic regions. CROs provide the required infrastructure, regulatory acumen, and global reach that enable these firms to expedite time-to-market, manage disparate regulatory environments, and administer complicated, multi-site trials more effectively. This phenomenon is most significant among small to mid-size biotech companies, which typically lack internal resources for large-scale research and look to CROs as value-added partners in innovation and expansion.
   
3. Expansion of Biologics and Biosimilars: Biologics and biosimilars are more demanding in research, require longer development timeframe, and are more specialized in clinical trial design than conventional small-molecule drugs. This complexity compels pharmaceutical and biotech firms to collaborate with CROs possessing the scientific capabilities, technological proficiency, and regulatory penetration necessary for biologics and biosimilar development. Moreover, with patents on blockbusters of biologics set to expire, there is an upsurge in biosimilar development, creating further demand for CROs to cover anything from analytical characterization to large-scale clinical trials and global regulatory approvals.
   
4. Geographic Insights: In 2022, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific. Further, Asia Pacific is expected to register the highest CAGR during the forecast period.
   

For Detailed Contract Research Organization (CRO) Market Insights, Visit: https://www.theinsightpartners.com/reports/contract-research-organization-cro-market

Market Segmentation 

• Based on service type, the contract research organization market is segmented into early phase development services, clinical research services, laboratory services, and post-approval services. The clinical research services segment held the largest share of the market in 2024.
• In terms of product type, the contract research organization market is segmented into cell and gene therapy, biosimilars, antibody drug conjugates, and others. The biosimilars system segment led the market in 2024.
• By type, the contract research organization market is bifurcated into in-house and outsource. The outsource segment held a larger share of the market in 2024.
• In terms of application, the contract research organization market is segmented into oncology, neurology, cardiology, infectious diseases, metabolic disorder, nephrology, respiratory, dermatology, ophthalmology, hematology, and others. The oncology segment dominated the market in 2024.
• Based on end user, the contract research organization market is segmented into pharmaceutical and biotech companies, medical device companies, academic and research institutes, and others. The pharmaceutical and biotech companies segment held the largest share of the market in 2024.
• The contract research organization market is segmented into five major regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.

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Competitive Strategy and Development

• Key Players: Parexel International Corp, Thermo Fisher Scientific, Precision Medicine Group, LLC, ProPharma Group, Medpace Holdings Inc, 04 Research Ltd, Julius Clinical, Siron Clinical, Clinmark sp. Z.0.0, and Pharmaxi LLC, are among the major companies operating in the contract research organization market.
• Trending Topics: Microbiology CRO Services, Early Phase Development Services, Biosimilars, Post-Approval Services, Clinical Research Services, Cell and Gene Therapy, Antibody Drug Conjugates, etc.

The Contract Research Organization (CRO) industry describes the outsourcing of research services by pharmaceutical, biotechnology, and medical device firms to specialized entities. CROs offer various services, such as clinical trials, drug development, regulatory affairs, and data management. The industry is propelled by the need for cost-effective and efficient research solutions, investment in pharmaceutical R&D, and the requirement for expertise in handling complex regulatory frameworks.

Global Headlines on Contract Research Organization Market

• Fortrea Positions itself as a Leading Global Contract Research Organization to Bring Life-Changing Therapies to Patients Faster
• ICON Becomes the First Large Clinical Research Organization to Fully Integrate Medidata Clinical Data Studio, Streamlining Data Management and Review
• EUROAPI Enhances its CDMO Capabilities Through a Pivotal Collaboration with SpiroChem, a Leading Contract Research Organization
  
  

For more inquiries or to access the full report, please visit: (2025-2031) at: https://www.theinsightpartners.com/buy/TIPBT00002008/

Conclusion

The contract research organization market continues to experience robust growth, driven by increasing demand for cost-efficient and time-saving solutions in drug development and clinical trials. Pharmaceutical, biotechnology, and medical device companies are increasingly outsourcing research activities to CROs to focus on core competencies and streamline operations. Technological advancements, globalization of clinical trials, and the rise of personalized medicine are further fueling market expansion. Additionally, the market in Asia Pacific is accelerating due to lower operational costs and a growing patient pool. However, regulatory complexities and data security concerns remain key challenges. Despite these hurdles, the CRO market is poised for sustained growth, with strategic collaborations, digital integration, and innovation in trial methodologies playing pivotal roles. As the healthcare landscape evolves, CROs will continue to be indispensable partners in accelerating research, enhancing efficiency, and bringing new therapies to market faster and more effectively.

The report from The Insight Partners provides several stakeholders—including service providers and end users—with valuable insights to successfully navigate this evolving market landscape and unlock new opportunities.

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