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Contract Research Organization (CRO) Market for Early-Stage Development Services and Last-Stage Development Services: Global Industry Perspective, Comprehensive Analysis and Forecast 2014 - 2020

Published: Oct-2015 | Format: PDF | Zion | Number of pages: 77 | Code: MRS - 36074


The report covers forecast and analysis for the contract research organization (CRO) market on a global and regional level. The study provides historic data of 2014 along with a forecast from 2015 to 2020 based on revenue (USD billion). The study includes drivers and restraints for the contract research organization market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the contract research organization market on a global level.
    
In order to give the users of this report a comprehensive view on the contract research organization market, we have included a detailed buying criteria, product portfolio, competitive scenario, and analysis of key industry players. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the contract research organization market has also been included. The study encompasses a market attractiveness analysis, wherein product segments are benchmarked based on their market size, growth rate and general attractiveness.

The study provides a decisive view on the contract research organization market by segmenting the market based on applications. All the end-user segments have been analyzed based on present and future trends and the market is estimated from 2014 to 2020. Key end-user market covered under this study include early-stage development services and last-stage development services. The regional segmentation includes the current and forecast demand for Americas, EMEA (Europe, Middle East & Africa) and Asia Pacific with its further bifurcation into major countries including U.S., China, and India. This segmentation includes demand for contract research organization market based on individual applications in all the regions and countries.

This Report covered some of the key players involved globally in contract research organization market includes Covance, Parexel International, PRA Health Sciences, Quintiles Translational. Other prominent players in the contract research organization market includes Chiltern, Charles River Laboratories, Icon, Inventiv Health, QPS, Ricerca Biosciences, EPS , SynteractHCR, INC Research, WIL Research and WuXi AppTec.

Contract Research Organization Market – End-user Analysis

  • Early-Stage Development Services
  • Last-Stage Development Services

Contract Research Organization Market - Regional Analysis

  • Americas
    • U.S.
  • Europe
  • Asia Pacific
    • China
    • India
  • Middle East and Africa
  • Chapter 1. Preface
    • 1.1. Report description and scope
    • 1.2. Research methodology
      • 1.2.1. Market research process
      • 1.2.2. Market research methodology
    • 1.3. List of abbreviations
  • Chapter 2. Executive Summary
    • 2.1. Global CRO Market Revenue, 2014 - 2020 (USD Billion)
    • 2.2. Global Market: Snapshot
  • Chapter 3. CRO Market – Global Industry Analysis
    • 3.1. Introduction
    • 3.2. Market Drivers
      • 3.2.1. Drivers for Global CRO Market: Impact Analysis
      • 3.2.2. Rising Outsourcing of Research and Development
        • 3.2.2.1. Comparison of Research Costs in US and India
      • 3.2.3. Increase in Patent Expiries
        • 3.2.3.1. Number of Drugs Going Off-patent 2013-2016
      • 3.2.4. Emergence of CROs in Developing Countries
      • 3.2.5. Increased Demand for Outsourced Services
      • 3.2.6. Expansion of Product Portfolio
    • 3.3. Market Restraints
      • 3.3.1. Restraints for Global CRO Market: Impact Analysis
      • 3.3.2. Shortage of Skilled Technicians
      • 3.3.3. Clinical Trial Failures
        • 3.3.3.1. Key Factors in Failure of Clinical Trials
      • 3.3.4. Stringent Government Regulations
      • 3.3.5. Reduced R&D Budgets
    • 3.4. Opportunity
      • 3.4.1. Increase in M&A
      • 3.4.2. Increased R&D by Biopharmaceutical Vendors
      • 3.4.3. Increase in Strategic Alliances
      • 3.4.4. Forward and Backward Integration by CROs
    • 3.5. Porter’s Five Forces Analysis
    • 3.6. Market Attractiveness Analysis
      • 3.6.1. Market Attractiveness Analysis by End-user Segment
      • 3.6.2. Market Attractiveness Analysis by Geography
  • Chapter 4. Global CRO Market – Competitive Landscape
    • 4.1. Buying Criteria
    • 4.2. Product Offerings
    • 4.3. Competitive Scenario
      • 4.3.1. Key News
      • 4.3.2. Mergers and Acquisitions
    • 4.4. Market Share Analysis 2014
      • 4.4.1. Segmentation of Global CRO Market by Vendor 2014
        • 4.4.1.1. Quintiles: Revenue by Business Segmentation 2013
        • 4.4.1.2. PAREXEL: Business Segmentation, 2014
        • 4.4.1.3. Market Share of Top Four CROs, 2014
    • 4.5. Other Prominent Vendors
  • Chapter 5. Global CRO Market – End-user Segment Analysis
    • 5.1. CRO Market: End-user Segment Analysis
      • 5.1.1. Global CRO Market Share by End-user Segment, 2014 - 2020
    • 5.2. Early-Stage Development Services
      • 5.2.1. Global Early-Stage Development Services Market for CRO, 2014 - 2020, (USD Billion)
    • 5.3. Last-Stage Development Services
      • 5.3.1. Global CRO Market for Last-Stage Development Services, 2014 - 2020, (USD Billion)
    • 5.4. Segmentation of Global CRO Market by Type of Activity 2014
  • Chapter 6. Global CRO Market – Therapeutic Area Analysis
    • 6.1. Global CRO Market: Therapeutic Area Analysis
      • 6.1.1. R&D Clinical Trial Pipeline Exhibit 10: by Therapeutic Area 2014
  • Chapter 7. Global CRO Market – Geography Analysis
    • 7.1. CRO Market: Geography Analysis
      • 7.1.1. Global CRO Market Share by Geography, 2014 – 2020
    • 7.2. North America
      • 7.2.1. North America CRO Market, 2014 – 2020, (USD Billion)
    • 7.3. Europe
      • 7.3.1. Europe CRO Market, 2014 – 2020, (USD Billion)
    • 7.4. Asia-Pacific
      • 7.4.1. Asia-Pacific CRO Market, 2014 – 2020, (USD Billion)
    • 7.5. China
      • 7.5.1. China CRO Market, 2014 – 2020, (USD Billion)
    • 7.6. India
      • 7.6.1. India CRO Market, 2014 – 2020, (USD Billion)
    • 7.7. Middle East and Africa
      • 7.7.1. Middle East and Africa CRO Market, 2014 – 2020, (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1. Covance
      • 8.1.1. Overview
      • 8.1.2. Financials
      • 8.1.3. Covance Revenue by Geography, 2013
      • 8.1.4. Covance Revenue by Product Segment, 2013
      • 8.1.5. Business Strategy
      • 8.1.6. Recent Developments
      • 8.1.7. SWOT Analysis
    • 8.2. Parexel International
      • 8.2.1. Overview
      • 8.2.2. Financials
      • 8.2.3. Parexel International Revenue by Geography, 2013
      • 8.2.4. Strategy
      • 8.2.5. Recent Developments
      • 8.2.6. SWOT Analysis
    • 8.3. PRA Health Sciences
      • 8.3.1. Overview
      • 8.3.2. Business Strategy
      • 8.3.3. Recent Developments
      • 8.3.4. SWOT Analysis
    • 8.4. Quintiles
      • 8.4.1. Overview
      • 8.4.2. Financials
      • 8.4.3. Quintiles Revenue by Geography, 2013
      • 8.4.4. Quintiles Revenue by Segment, 2013
      • 8.4.5. Recent Developments
      • 8.4.6. SWOT Analysis

List of Tables

1.    Market Snapshot    
2.    Drivers For Global CRO Market: Impact Analysis    
3.    Restraints For Global CRO Market: Impact Analysis    
4.    Strategic Alliances between Large Biopharmaceutical Vendors and CROs    
5.    Key Deals in CRO and Related Services Space    
6.    Buying Criteria    
7.    Product Offerings


List of Figures

1.    Market Research Process    
2.    Market Research Methodology    
3.    Global CRO Market, 2014 - 2020 (USD Billion)    
4.    Comparison of Research Costs in US and India    
5.    Number of Drugs Going Off-patent 2013-2016    
6.    Key Factors in Failure of Clinical Trials    
7.    Porter’s five forces analysis    
8.    Market Attractiveness Analysis by End-user Segment    
9.    Market Attractiveness Analysis by Geography    
10.    Segmentation of Global CRO Market by Vendor 2014    
11.    Quintiles: Revenue by Business Segmentation 2013    
12.    PAREXEL: Business Segmentation, 2014    
13.    Market Share of Top Four CROs, 2014    
14.    Global CRO Market Share by End-User Segment, 2014 - 2020    
15.    Global Early-Stage Development Services Market for CRO, 2014 - 2020, (USD Billion)    
16.    Global CRO Market for Last-Stage Development Services, 2014 - 2020, (USD Billion)    
17.    Segmentation of Global CRO Market by Type of Activity 2014    
18.    R&D Clinical Trial Pipeline Exhibit 10: by Therapeutic Area 2014    
19.    Global CRO Market Share by Geography, 2014 - 2020    
20.    Americas CRO Market, 2014 – 2020, (USD Billion)    
21.    U.S. CRO Market, 2014 – 2020, (USD Billion)    
22.    Europe CRO Market, 2014 – 2020, (USD Billion)    
23.    Asia-Pacific  CRO Market, 2014 – 2020, (USD Billion)    
24.    China CRO Market, 2014 – 2020, (USD Billion)    
25.    India CRO Market, 2014 – 2020, (USD Billion)    
26.    Middle East and Africa CRO Market, 2014 – 2020, (USD Billion)    
27.    Covance Revenue by Geography, 2013    
28.    Covance Revenue by Product Segment, 2013    
29.    Covance: SWOT Analysis    
30.    Parexel International Revenue by Geography, 2013    
31.    Parexel International: SWOT Analysis    
32.    PRA Health Sciences: SWOT Analysis    
33.    Quintiles Revenue by Geography, 2013    
34.    Quintiles Revenue by Segment, 2013    
35.    Quintiles: SWOT Analysis

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Zion Research uses the synergy of combination of both primary research and secondary research for its research reports. For this study, we have conducted extensive primary research, wherein we have conducted in-depth interviews of the key opinion leader of this industry. Primary research make up for the biggest chunk of our data sources in addition to secondary research.

We referred to product literature of leading industry participants, annual reports, press releases, government publications, and other relevant sources for data collection and analysis thereof. Secondary research also includes a search of recent trade journals, technical writing, internet sources, and statistical data from government websites, trade associations and agencies.  

Zion Research has collected key data related to the Contract Research Organization market and analyzed these data using a variety of methods. The market dynamics have been ascertained following a detailed study of the micro, meso, and macroeconomic indicators of the market.

This report is based on in-depth qualitative and quantitative analyses of the global Contract Research Organization market. The quantitative analysis involved the application of various projection and sampling techniques. The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions.

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically partake in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals


Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Based on the research results and technical insights thus gathered, Zion research analysts have provided a comprehensive analysis of the varied aspects of the market. The impact of global economic conditions and other macroeconomic indicators was also considered when assessing the market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

CRO is an organization that works on a contract basis for various industries and it serves the outsourced research services. Different industries served by CROs include pharmaceutical, medical device, biotechnology, government institutions & foundations, universities, etc. CROs facilitate effective control on research and development expenditure of a company. CROs save the valuable time of companies and make them focus on their core activities. Additionally, it also helps them to develop their ability for healthcare regulatory submissions, biostatistics, and data management. CROs have started providing their research and development services to their vendors throughout all the phases of a drug development.
 
Increasing outsourcing of research and development industry is one of the major driving factors for the growth of the contract research organization market. Major benefit associated with outsourcing of research and development to CROs helps to optimize the expenditure of the research institutes. Moreover, institutes get strength to concentrate on their basic skills and abilities. The global CRO market is expected to grow at a rapid CAGR of above 9% between 2015 and 2020. Outsourcing of clinical trial activities to CROs is gaining popularity, especially in major developed economies such as the U.S. Increasing aging population and rise in the instance and occurrence of lifestyle-related diseases such as CVD and diabetes have increased the demand for improved pharmaceutical products.

Contract_Research_Organization_Market
However, global CRO market is expected to face major challenges for the growth such as shortage of experienced personnel to conduct various activities in CROs. The soaring failure rate of recently discovered drugs in the clinical trial stage is expected to hold the growth of this market.

The contract research organization market can be segmented on the basis of end-user segments such as early stage development services and late stage development services. Late stage development services segment dominated the contract research organization market with around 70% share of the total market in 2014. It is also expected to exhibit fastest growth rate during the forecast period. On the basis of therapeutic area, the R&D clinical trial pipeline comprises seven segments such as oncology, infectious diseases, CNS, cardiovascular, metabolic, respiratory, and others. Oncology dominated the research and development clinical trial pipeline with around 25% share of the total market in 2014.

With around 50% share of the total market the Americas dominated the global CRO market in 2014. The U.S. was the largest market for CRO in the region. EMEA was the second largest market for CRO in 2014. CRO market in EMEA region is mainly driven by the UK, France, Germany, Italy, and Spain. The CRO market in the APAC region is expected to exhibit strong growth in the years to come. China, India, and South Korea, Malaysia and Singapore, are expected to drive CRO market in the region. Owing to strong growth in these countries CRO market in Asia Pacific is expected to exhibit fastest growth rate during forecast period.

Some of the key players involved globally in contract research organization market include Covance, Parexel International, PRA Health Sciences, Quintiles Translational. Other prominent players in the contract research organization market includes Chiltern, Charles River Laboratories, Icon, Inventiv Health, QPS, Ricerca Biosciences, EPS , SynteractHCR, INC Research, WIL Research and WuXi AppTec.


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