Contract Pharmaceutical Research Services in the US - Industry Market Research Report

Contract Pharmaceutical Research Services in the US - Industry Market Research Report
Contract Pharmaceutical Research Services in the US

The industry provides a breadth of research and development (R&D) services to manufacturers in the pharmaceutical industry. Over the past five years, demand for outsourced pharmaceutical research has continued to grow, driven by the rising market penetration of contract research organizations (CROs) and growing demand for new drug manufacturing. Rising vertical integration has enabled businesses in this industry to become a one-stop shop for all client needs. Continued efforts to consolidate have led to some large acquisitions, including the acquisition of PPD Inc. by Thermo Fisher Scientific for $17.4 billion in December 2021. Overall, industry revenue is expected to expand at a CAGR of 4.7% to $17.2 billion over the past five years, including 4.7% growth in 2023 alone.

The industry provides a range of research and development services to pharmaceutical manufacturers, including laboratory testing, preclinical and clinical trials, commercialization and post-market surveillance.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.