by The global Medical Device Contract Research Organization market size is expected to be worth around US$ 15.1 billion by 2030, according to a new report by Vision Research Reports.
The global Medical Device Contract Research Organization market size was valued at US$ 7.3 billion in 2020 and is anticipated to grow at a CAGR of 9.6% during forecast period 2021 to 2030.
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Growth Factors
During the second half of the COVID-19 pandemic in 2020, the market witnessed a surge in demand for CRO services as compared to the first half, where the growth was stagnant. The main driver of the market includes time-saving, cost efficiency, and expertise in the area, which accelerates the process of devices reaching the market. In addition, outsourcing to a CRO with precise expertise in a medical device helps in meeting the complex regulatory requirements and audits as they work on it on a daily basis.
They also have access to the most advanced technological resources, such as all the latest and most advanced hardware, software, and internet-based applications, to make the process fast and maintain quality.
Report Coverage
| Report Scope | Details |
| Market Size | US$ 15.1 billion by 2030 |
| Growth Rate | CAGR of 9.6% From 2021 to 2030 |
| Largest Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Phase, Service |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Icon Plc; IQVIA; Covance; Charles River Laboratories; Syneos Health; MedPace; Promedica International; Wuxi AppTec; Eurofins; Qserve Group |
By Service Analysis
The clinical monitoring segment led the global market in 2020 accounting for a revenue share of 21.1% in 2020. The segment is anticipated to maintain its position over the forecast period owing to a large number of clinical trials performed and, to study them, increasing demand for clinical trial monitoring.
On the basis of services, the market is segmented into project management/clinical supply management, data management, regulatory/medical affairs, medical writing, clinical monitoring, quality management/assurance, bio-statistics, investigator payments, laboratory, patient & site recruitment, technology, and others.
By Phase Analysis
On the basis of phase, the market has been bifurcated into clinical and preclinical. The clinical segment dominated the market and accounted for the largest revenue share of more than 88% in 2020.
The preclinical segment is projected to register the fastest growth rate of 10.0% during the forecast period. An increase in the number of preclinical trials involving large molecules and the growing need to curb R&D expense is expected to contribute to the segment growth.
By Regional Analysis
Asia Pacific dominated the market accounting for the largest revenue share of 41.1% in 2020. This growth is due to several medical research organizations’ investments in developing the capability to analyze medical devices and technology.
In North America, the market for healthcare CROs held a substantial share in 2020 owing to the highest number of trials undertaken and outsourced in the region. This large number can be attributed to the presence of well-established CROs in the region and high investments by pharmaceutical companies.
Key Players
- Icon Plc
- IQVIA
- Covance
- Charles River Laboratories
- Syneos Health
- MedPace
- Promedica International
- Wuxi AppTec
- Eurofins
- Qserve Group
Market Segmentation
- By Phase
- Preclinical
- Clinical
- By Service
- Project Management/Clinical Supply Management
- Data Management
- Regulatory/Medical Affairs
- Medical Writing
- Clinical Monitoring
- Quality Management/Assurance
- Bio-statistics
- Investigator Payments
- Laboratory
- Patient & Site Recruitment
- Technology
- Others
- Regional
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- India
- Japan
- China
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- North America
Table of Contents
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Medical Device Contract Research Organization Market, By Phase
7.1. Medical Device Contract Research Organization Market, by Phase, 2021-2030
7.1.1. Preclinical
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Clinical
7.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Medical Device Contract Research Organization Market, By Service
8.1. Medical Device Contract Research Organization Market, by Service, 2021-2030
8.1.1. Project Management/Clinical Supply Management
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Data Management
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Regulatory/Medical Affairs
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Medical Writing
8.1.4.1. Market Revenue and Forecast (2017-2030)
8.1.5. Clinical Monitoring
8.1.5.1. Market Revenue and Forecast (2017-2030)
8.1.6. Quality Management/Assurance
8.1.6.1. Market Revenue and Forecast (2017-2030)
8.1.7. Bio-statistics
8.1.7.1. Market Revenue and Forecast (2017-2030)
8.1.8. Investigator Payments
8.1.8.1. Market Revenue and Forecast (2017-2030)
8.1.9. Laboratory
8.1.9.1. Market Revenue and Forecast (2017-2030)
8.1.10. Patient & Site Recruitment
8.1.10.1. Market Revenue and Forecast (2017-2030)
8.1.11. Technology
8.1.11.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Medical Device Contract Research Organization Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Phase (2017-2030)
9.1.2. Market Revenue and Forecast, by Service (2017-2030)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Phase (2017-2030)
9.1.3.2. Market Revenue and Forecast, by Service (2017-2030)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Phase (2017-2030)
9.1.4.2. Market Revenue and Forecast, by Service (2017-2030)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Phase (2017-2030)
9.2.2. Market Revenue and Forecast, by Service (2017-2030)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Phase (2017-2030)
9.2.3.2. Market Revenue and Forecast, by Service (2017-2030)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Phase (2017-2030)
9.2.4.2. Market Revenue and Forecast, by Service (2017-2030)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Phase (2017-2030)
9.2.5.2. Market Revenue and Forecast, by Service (2017-2030)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Phase (2017-2030)
9.2.6.2. Market Revenue and Forecast, by Service (2017-2030)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Phase (2017-2030)
9.3.2. Market Revenue and Forecast, by Service (2017-2030)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Phase (2017-2030)
9.3.3.2. Market Revenue and Forecast, by Service (2017-2030)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Phase (2017-2030)
9.3.4.2. Market Revenue and Forecast, by Service (2017-2030)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Phase (2017-2030)
9.3.5.2. Market Revenue and Forecast, by Service (2017-2030)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Phase (2017-2030)
9.3.6.2. Market Revenue and Forecast, by Service (2017-2030)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Phase (2017-2030)
9.4.2. Market Revenue and Forecast, by Service (2017-2030)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Phase (2017-2030)
9.4.3.2. Market Revenue and Forecast, by Service (2017-2030)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Phase (2017-2030)
9.4.4.2. Market Revenue and Forecast, by Service (2017-2030)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Phase (2017-2030)
9.4.5.2. Market Revenue and Forecast, by Service (2017-2030)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Phase (2017-2030)
9.4.6.2. Market Revenue and Forecast, by Service (2017-2030)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Phase (2017-2030)
9.5.2. Market Revenue and Forecast, by Service (2017-2030)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Phase (2017-2030)
9.5.3.2. Market Revenue and Forecast, by Service (2017-2030)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Phase (2017-2030)
9.5.4.2. Market Revenue and Forecast, by Service (2017-2030)
Chapter 10. Company Profiles
10.1. Icon Plc
10.1.1. Company Overview
10.1.2. Phase Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. IQVIA
10.2.1. Company Overview
10.2.2. Phase Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Covance
10.3.1. Company Overview
10.3.2. Phase Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Charles River Laboratories
10.4.1. Company Overview
10.4.2. Phase Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. Syneos Health
10.5.1. Company Overview
10.5.2. Phase Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. MedPace
10.6.1. Company Overview
10.6.2. Phase Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Promedica International
10.7.1. Company Overview
10.7.2. Phase Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Wuxi AppTec
10.8.1. Company Overview
10.8.2. Phase Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Eurofins
10.9.1. Company Overview
10.9.2. Phase Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Qserve Group
10.10.1. Company Overview
10.10.2. Phase Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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