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Contract Research Organization (CRO) Services Market Forecasts to 2024

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Contract Research Organization (CRO) Services Market Forecasts to 2024


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Contract Research Organization (CRO) Services Market Forecasts to 2024



Executive Summary

Global Pharma Contract Research Organization Market-Drivers, Opportunities, Trends, and Forecast: 2018-2024

Overview: Contract Research Organization (CRO), also sometimes referred as also referred as clinical research organization are key constituent of the drug development process, offers range of services to pharmaceutical and biopharmaceutical companies. CRO's can provide services such as early phase development services (includes discovery studies, chemistry, manufacturing & control), Pharmacokinetics/Pharmacodynamics (PK/PD), toxicology testing, clinic research services (Phase I, Phase II, Phase III, Phase IV), laboratory services, analytical and bioanalytical testing, physical characterization, and consulting services. CRO also extend their services to governmental institutes, Universities, in addition to research institutions. CRO's help in the drug development various major diseases such as oncology, cardiovascular disease, diabetes, infectious diseases, CNS disorders, respiratory disorders and other disorders.

The market for pharma contract research organization is driven by increasing outsourcing of research and development by pharmaceutical companies, increasing clinical trials across the globe, increasing number of patent expiration and growth in biopharmaceuticals market are some of the factors driving the growth of CRO market, whereas, lack of skilled personnel and quality issues related to services offered by CROs are limiting the growth of CRO market to an extent.

Market Analysis: The Global Pharma Contract Research Organization market is estimated to witness a CAGR of 8.2% during the forecast period 2018-2024. The global market is analyzed based on three segments -Service type, therapeutic area and regions.

Regional Analysis: The regions covered in the report are the North America, Europe, Asia Pacific, and Rest of the World (ROW). North America is the major shareholder in the global pharma contract research organization market, followed by Europe. Increasing growth of biopharmaceutical market, high quality standards of pharma and biopharma industry and availability of advanced technologies makes North America major shareholder of pharma CRO market. Asia Pacific is expected to grow at high CAGR during forecasted period due to increasing research activities, growing patient pool, and flexible regulatory environment for clinical trials.

Service Type Analysis: The pharma contract research organization market by service type is segmented into discovery, preclinical studies, clinical studies and others. Among these, clinical study services accounted for the highest market share in 2017, due to increasing prevalence of lifestyle and metabolic diseases, growth in the elderly population and increasing clinical trials globally.

Therapeutic Area Analysis: The market by therapeutic area is segmented into oncology, infectious disease, cardiovascular disease, CNS disorders, immunological disorders, respiratory disease, diabetes and others. Oncology occupied a major market share in 2017 and is expected to remain same for next five years. This is due to increasing global prevalence of cancer across the globe and high number of ongoing clinical trials in this segment.

Key Players:

Laboratory Corporation of America Holdings (Covance), Charles River Laboratories, Inc., Pharmaceutical Product Development Inc., IQVIA Holdings Inc., PAREXEL International Corporation, ICON plc, Syneos Health, Inc., Medpace Holdings, Inc., Envigo, Evotec AG, Eurofins Scientific, PRA Health Sciences, Inc., WuXi AppTec, Inc., SGS SA, EPS International, Genscript Biotech Corporation and niche players.

Competitive Analysis: There is increase in acquisitions and mergers by the CRO's in recent years to gain global foothold in the highly competitive CRO market. For instance, in August 2017, LabCorp acquired CRO Chiltern for USD 1.2 billion, which will become part of the company's Covance Drug Development business. This will strengthen LabCorp's Position as a Global Life Sciences Company with Leading Diagnostics and Drug Development Businesses. In August 2017, Avista Healthcare and CRO Envigo have entered into a definitive merger agreement under which Envigo will become a wholly owned subsidiary of Avista. In August 2017, Mercachem and Syncom, two of the leading European drug discovery Contract Research Organizations (CRO), announced the merger of two companies that will result in the formation of Mercachem-Syncom Group, with more than 300 employees and operations in Nijmegen and Groningen. In addition, the company has numerous partnership to enhance their service capabilities. For instance, In March 2018, PAREXEL announced a partnership with CHA Medical Group to increase its early phase clinical development capabilities in South Korea. WuXi AppTec entered into partnership with biopharmaceutical company Antengene Corporation to accelerate drug development for oncology.

Benefits: The report provides complete details about the services offered by pharma contract research organizations in various therapeutic verticals and regions. With that, key stakeholders can know about the major trends, drivers, investments, and vertical player's initiatives. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals to analyze before investing or expanding the business in this market.

Key Stakeholders:

Table of Contents

1 Industry Outlook 10

1.1 Industry Overview 10

1.1.1 Industry Trends 11

1.1.2 R&D pipeline in pharmaceutical industry 11

1.2 Total addressable market 12

2 Report Outline 14

2.1 Report Scope 14

2.2 Report Summary 14

2.3 Research Methodology 15

2.4 Report Assumptions 15

3 Market Snapshot 17

3.1 Market Definition-Infoholic Research 17

3.2 Need of CRO 17

3.3 History of CRO 17

3.4 Segmented Addressable Market (SAM) 18

3.5 Trends of the pharma contract research organization market 18

3.6 Related Markets 19

3.6.1 Pharmaceutical Contract manufacturing organization market 19

3.6.2 Drug discovery outsourcing 20

4 Market Outlook 21

4.1 Funding Scenario 24

4.2 Process of Drug Development 25

4.3 Market segmentation 25

4.4 PEST Analysis 26

4.5 Porter 5(Five) Forces 28

5 Market Characteristics 29

5.1 DRO-Global pharma contract research organization Market Dynamics 29

5.1.1 Drivers 29

5.1.1.1 Upsurge in outsourcing of R&D activities 29

5.1.1.2 Rising number of clinical trials across the globe 30

5.1.2 Opportunities 31

5.1.2.1 Growth in the biopharmaceutical market 31

5.1.2.2 Increasing number of deals to develop new compounds for rare disease 31

5.1.3 Restraints 31

5.1.3.1 Quality issues related to services offered by CRO 31

5.1.3.2 Lack of trained professionals 32

5.2 DRO-Impact Analysis 33

5.3 Key Stakeholders 33

6 Service type: Market Size & Analysis 35

6.1 Overview 35

6.2 Discovery services 36

6.3 Preclinical study services 38

6.3.1 Pharmacokinetics/Pharmacodynamics 40

6.3.2 Toxicology testing 40

6.3.3 Others 41

6.4 Clinical study services 41

6.4.1 Phase I 43

6.4.2 Phase II 43

6.4.3 Phase III 43

6.4.4 Phase IV 43

6.5 Others 44

7 Therapeutic indication: Market Size & Analysis 45

7.1 Overview 45

7.2 Oncology 46

7.3 Respiratory disease 46

7.4 CNS disorder 46

7.5 Infectious disease 47

7.6 Cardiovascular disease 47

7.7 Immunological disorder 47

7.8 Diabetes 47

7.9 Others 48

8 Regions: Market Size and Analysis 49

8.1 Overview 49

8.2 North America 50

8.3 Europe 52

8.4 Asia Pacific 53

8.5 Rest of the World 55

9 Competitive Landscape 56

9.1 Overview 56

10 Vendor Profiles 59

10.1 Charles River Laboratories, Inc. 59

10.1.1 Overview 59

10.1.2 Charles River Laboratories, Inc.: Recent Developments 60

10.1.3 Business Units 62

10.1.4 Geographic Revenue 63

10.1.5 Business Focus 64

10.1.6 SWOT Analysis 65

10.1.7 Business Strategies 65

10.2 Laboratory Corporation of America Holdings (LABCORP) 66

10.2.1 Overview 66

10.2.2 Laboratory Corporation of America Holdings: Recent Developments 68

10.2.3 Business Units 70

10.2.4 Geographic Revenue 71

10.2.5 Business Focus 71

10.2.6 SWOT Analysis 72

10.2.7 Business Strategies 72

10.3 IQVIA HOLDINGS INC. 73

10.3.1 Overview 73

10.3.2 Business Units 76

10.3.3 Geographic Revenue 76

10.3.4 Business Focus 77

10.3.5 SWOT Analysis 78

10.3.6 Business Strategies 78

10.4 Pharmaceutical Product Development Inc 79

10.4.1 Overview 79

10.4.2 Business Focus 81

10.4.3 SWOT Analysis 81

10.4.4 Business Strategy 81

10.5 ICON PLC 82

10.5.1 Overview 82

10.5.2 Geographic Revenue 85

10.5.3 Business Focus 86

10.5.4 SWOT Analysis 86

10.5.5 Business Strategies 87

10.6 PAREXEL International Corporation 88

10.6.1 Overview 88

10.6.2 Business Units 90

10.6.3 Geographic Revenue 91

10.6.4 Business Focus 92

10.6.5 SWOT Analysis 93

10.6.6 Business Strategies 93

11 Companies to Watch for 95

11.1 PRA HEALTH SCIENCES, INC. 95

11.1.1 Overview 95

11.2 Syneos Health Inc 96

11.2.1 Overview 96

11.3 WuXi AppTec 99

11.3.1 Overview 99

11.4 Medpace Holdings, Inc. 100

11.4.1 Overview 100

11.5 SGS SA 101

11.5.1 Overview 101

11.6 Envigo 103

11.6.1 Overview 103

11.7 EPS INTERNATIONAL 105

11.7.1 Overview 105

11.8 EVOTEC AG 106

11.8.1 Overview 106

11.9 GenScript Biotech Corporation 110

11.9.1 Overview 110

11.10 Eurofins Scientific 111

11.10.1 Overview 111

Annexure 115

Acronyms 115

To know more information on Purchase by Section, please send a mail to sales@kenresearch.com

Tables

TABLE 1 MERGER AND ACQUISITIONS IN CRO MARKET (2010-2018) 21

TABLE 2 FUNDING SCENARIO 24

TABLE 3 GLOBAL PHARMA CONTRACT RESEARCH ORGANIZATION REVENUE BY REGIONS, 2017-2024 (USD BILLION) 50

TABLE 4 OTHER VENDORS OF PHARMA CONTRACT RESEARCH ORGANIZATION MARKET 57

TABLE 5 CHARLES RIVER LABORATORIES, INC.: OFFERINGS 59

TABLE 6 LABORATORY CORPORATION OF AMERICA HOLDINGS: PRODUCT OFFERINGS 67

TABLE 7 IQVIA HOLDINGS INC.: OFFERINGS 74

TABLE 8 IQVIA HOLDINGS INC.: RECENT DEVELOPMENTS 74

TABLE 9 PHARMACEUTICAL PRODUCT DEVELOPMENT INC.: OFFERINGS 79

TABLE 10 PHARMACEUTICAL PRODUCT DEVELOMENT INC.: RECENT DEVELOPMENTS 79

TABLE 11 ICON PLC: OFFERINGS 83

TABLE 12 ICON PLC: RECENT DEVELOPMENTS 83

TABLE 13 PAREXEL INTERNATION CORPORATION: OFFERINGS 88

TABLE 14 PAREXEL INTERNATIONAL CORPORATION: RECENT DEVELOPMENTS 89

TABLE 15 PRA HEALTH SCIENCES, INC.: SNAPSHOT 95

TABLE 16 PRA HEALTH SCIENCES, INC.: RECENT DEVELOPMENTS 96

TABLE 17 SYNEOS HEALTH, INC: SNAPSHOT 97

TABLE 18 SYNEOS HEALTH INC: RECENT DEVELOPMENTS 97

TABLE 19 WUXI APPTEC: SNAPSHOT 99

TABLE 20 WUXI APPTEC: RECENT DEVELOPMENTS 100

TABLE 21 MEDPACE HOLDINGS, INC.: SNAPSHOT 100

TABLE 22 MEDPACE HOLDINGS, INC.: RECENT DEVELOPMENTS 101

TABLE 23 SGS SA: SNAPSHOT 102

TABLE 24 SGS SA: RECENT DEVELOPMENTS 102

TABLE 25 ENVIGO: SNAPSHOT 103

TABLE 26 ENVIGO: RECENT DEVELOPMENTS 105

TABLE 27 EPS INTERNATIONAL: SNAPSHOT 106

TABLE 28 EPS INTERNATIONAL: RECENT DEVELOPMENTS 106

TABLE 29 EVOTEC: SNAPSHOT 107

TABLE 30 EVOTEC AG: RECENT DEVELOPMENTS 108

TABLE 31 GENSCRIPT BIOTECH CORPORATION: SNAPSHOT 110

TABLE 32 GENSCRIPT BIOTECH CORPORATION: RECENT DEVELOPMENTS 110

TABLE 33 EUROFINS SCIENTIFIC: SNAPSHOT 111

TABLE 34 EUROFINS SCIENTIFIC: RECENT DEVELOPMENTS 112

Tables

TABLE 1 MERGER AND ACQUISITIONS IN CRO MARKET (2010-2018) 21

TABLE 2 FUNDING SCENARIO 24

TABLE 3 GLOBAL PHARMA CONTRACT RESEARCH ORGANIZATION REVENUE BY REGIONS, 2017-2024 (USD BILLION) 50

TABLE 4 OTHER VENDORS OF PHARMA CONTRACT RESEARCH ORGANIZATION MARKET 57

TABLE 5 CHARLES RIVER LABORATORIES, INC.: OFFERINGS 59

TABLE 6 LABORATORY CORPORATION OF AMERICA HOLDINGS: PRODUCT OFFERINGS 67

TABLE 7 IQVIA HOLDINGS INC.: OFFERINGS 74

TABLE 8 IQVIA HOLDINGS INC.: RECENT DEVELOPMENTS 74

TABLE 9 PHARMACEUTICAL PRODUCT DEVELOPMENT INC.: OFFERINGS 79

TABLE 10 PHARMACEUTICAL PRODUCT DEVELOMENT INC.: RECENT DEVELOPMENTS 79

TABLE 11 ICON PLC: OFFERINGS 83

TABLE 12 ICON PLC: RECENT DEVELOPMENTS 83

TABLE 13 PAREXEL INTERNATION CORPORATION: OFFERINGS 88

TABLE 14 PAREXEL INTERNATIONAL CORPORATION: RECENT DEVELOPMENTS 89

TABLE 15 PRA HEALTH SCIENCES, INC.: SNAPSHOT 95

TABLE 16 PRA HEALTH SCIENCES, INC.: RECENT DEVELOPMENTS 96

TABLE 17 SYNEOS HEALTH, INC: SNAPSHOT 97

TABLE 18 SYNEOS HEALTH INC: RECENT DEVELOPMENTS 97

TABLE 19 WUXI APPTEC: SNAPSHOT 99

TABLE 20 WUXI APPTEC: RECENT DEVELOPMENTS 100

TABLE 21 MEDPACE HOLDINGS, INC.: SNAPSHOT 100

TABLE 22 MEDPACE HOLDINGS, INC.: RECENT DEVELOPMENTS 101

TABLE 23 SGS SA: SNAPSHOT 102

TABLE 24 SGS SA: RECENT DEVELOPMENTS 102

TABLE 25 ENVIGO: SNAPSHOT 103

TABLE 26 ENVIGO: RECENT DEVELOPMENTS 105

TABLE 27 EPS INTERNATIONAL: SNAPSHOT 106

TABLE 28 EPS INTERNATIONAL: RECENT DEVELOPMENTS 106

TABLE 29 EVOTEC: SNAPSHOT 107

TABLE 30 EVOTEC AG: RECENT DEVELOPMENTS 108

TABLE 31 GENSCRIPT BIOTECH CORPORATION: SNAPSHOT 110

TABLE 32 GENSCRIPT BIOTECH CORPORATION: RECENT DEVELOPMENTS 110

TABLE 33 EUROFINS SCIENTIFIC: SNAPSHOT 111

TABLE 34 EUROFINS SCIENTIFIC: RECENT DEVELOPMENTS 112

Laboratory Corporation of America Holdings (Covance), Charles River Laboratories, Inc., Pharmaceutical Product Development Inc., IQVIA Holdings Inc., PAREXEL International Corporation, ICON plc, Syneos Health, Inc., Medpace Holdings, Inc., Envigo, Evotec AG, Eurofins Scientific, PRA Health Sciences, Inc., WuXi AppTec, Inc., SGS SA, EPS International, Genscript Biotech Corporation and niche players


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