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Focus on Specialized Technical Proficiency and Growing Pressure to Reduce R&D Costs Drive Growth in the Contract Research Outsourcing Market


Published: April 2017

REPORT STATISTICS


  • Code: MCP-1534
  • Pages: 282
  • Tables: 44
  • Companies: 115


CONTRACT RESEARCH OUTSOURCING: A RESEARCH BRIEF

The global market for Contract Research Outsourcing is forecast to reach US$71.2 billion by 2022, driven by the growing efforts of pharmaceutical and biopharmaceutical companies to enhance productivity, optimize R&D costs and reduce time to market of new drugs. The changing structure of clinical research from a vertical and fixed model to a matrix model is a fundamental factor encouraging volume growth of research work moving to Contract Research Organizations (CROs). With clinical studies getting larger, the increased workload and tighter timelines are spurring interest in outsourcing strategies. Adoption of ICH GCP guidelines the world over and standardization of international quality standards are also helping increase the number of CRO collaborations. The United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 11.8% over the analysis period led by factors such as rapidly expanding domestic pharmaceutical industry; favorable foreign direct investment (FDI) policies in the pharmaceutical sector; low cost of clinical trials by over 20% to 30%; growing volumes of clinical trials conducted in developing Asian countries due to the availability of “willing” cohort of participants; and rise of emerging markets as preferred locations for conducting non-traditional research due to less strict legislations and research protocols. 

    Summary of Findings

  • Growing R&D Budget Constraints and the Need to Run Leaner and Meaner Help Shift the Focus from In-House Clinical Operations to Outsourced Services
  • Speed-to-Market as the Most Rewarding Competitive Advantage Drives the Emphasis on Outsourcing Clinical Research Activity
  • Outsourcing of Toxicology Testing Services Used in Drug Development and Discovery Processes Gathers Steam
  • Digital Automation of Clinical Trials and New Technologies to Help Shorten Patient Enrollment Times Offer New Growth Opportunities for CROs
  • Growing Technological Prowess of CROs: An Incentive for Pharma Majors to Build Alliances and Partnerships with CROs to Explore Open Market Innovation

    Timeline for Analysis

  • Market Estimates and Forecasts for 2015-2022
  • Historic Review 2009-2014

    Geographic Markets Analyzed

  • US, Canada, Japan, Europe, Asia-Pacific (China, India and Rest of Asia-Pacific), and Rest of World

    Market Segmentation & Classification

  • Service Segments:
    • Drug Discovery, Preclinical Research, and Clinical Research

MAJOR PLAYERS

  • Albany Molecular Research, Inc.
  • Charles River Laboratories International, Inc.
  • Chiltern International Ltd.
  • ICON plc
  • INC Research, LLC
  • InVentiv Health, Inc.
  • Jubilant Biosys Ltd.
  • Laboratory Corporation of America® Holdings

KEY RESEARCH DELIVERABLES

  • Review of Industry/Market Structure
  • Analysis of Trends & Drivers
  • Insights on Macro Market Scenarios
  • Market SWOT Analysis
  • Latent Demand Forecasts & Projections
  • Comprehensive Geographic Market Analysis
  • Presentation Ready Facts & Statistical Data Findings
  • Coverage of Major/Niche Players, Market Shares & Competition
  • Coverage of major Company/Technology/Product/Financial Stories
  • Extensive Product/Service/End-Use/Technology Coverage Where Applicable