Asia Pacific Contract Research Organization (CRO) Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Early Phase Development Services, Clinical Research Services, Laboratory Services, and Post-approval Services); End User (Pharmaceutical and Biotechnology Companies and Medical Device Companies) and Geography
The Asia-Pacific contract research organization market was valued at US$ 8,112.00 million in 2020 and it is projected to reach US$ 18,399.87 million by 2028; it is expected to grow at a CAGR of 11.2% during 2021–2028.
Contract research organization (CRO) provides support services to the pharmaceutical, biotechnology, and medical device companies throughout the development of the product. Pharmaceutical& biotechnology companies and the medical device industry require various testing services such as preclinical services, clinical research services, analytical testing services, bioanalytical testing services, and regulatory services. CROs are specifically designed to perform these testing services to reduce the in-house cost and time of the companies, required to conduct the extensive range of testing services to comply with the national and international regulatory standards.
The Asian continent appears to be a rapidly growing destination for conduction of cost-effective clinical trials. Moreover, the ease of regulatory compliance and presence of top clinical institutions further contributes to Asia-Pacific becoming the new choice of destination for conduction of clinical trials. Outsourcing is an integral part of the biopharmaceutical industry primarily during the clinical phases of the research and development (R&D). The rising number of clinical trials in the region also attributes to the presence and easy access of treatment-naïve patient pool.
The high incidence of diseases such as hepatitis, stroke, and lung cancer make Asia-Pacific a promising destination for conduction of clinical trials. According to a World Health Organization (WHO) database study, the total number of registered clinical trials in the Asia Pacific between 2009 and 2018 were reported to be more than 125,000. This implies a 7-fold increase in the total number of clinical trials in Asian region. The report also suggests that Japan conducted highest number of clinical trials, which is approximately 30.8% of the total trials held in the region. The annual average increase in the number of clinical trials in Asia-Pacific is greater than the US, Canada, and EU countries. According to a report published by PubMed in September 2019, Iran recorded the highest annual increase in the number of clinical trials in Asia with 41% increase in 2019 as compared to 2018. Thus, the increasing number of clinical trials in the region implies the increasing demand for outsourcing research and development activities thereby responsible for the growth of the contract research organization (CROs) market in Asia-Pacific during the forecast years.
Market Insights
Research and development (R&D) is an essential and crucial part of the company’s business. Pharmaceutical and biotech companies focus on the research and development (R&D) to come up with new molecules for various therapeutic applications with the greatest medical and commercial potential. The companies invest majorly on the R&Ds with the aim of delivering high quality and innovative products to the market. R&D spending by the biopharmaceutical companies has also increased over the years. In addition, the rapid growth of Asian biopharmaceutical industry has created a community for investors that has plenty of capital. According to a report published in Top 10 Asia Biopharma Clusters 2018, the Asian investors contributed to approximately US$ 4.2 billion in biopharmaceutical start-ups attributing to their high potential for expansion in the coming years
Type: Insights
The Asia-Pacific contract research organization market, based on type, is bifurcated into early phase development services, clinical research services, laboratory services, and post-approval services. The clinical research services segment held a larger share of the market in 2020. However, the same segment is expected to register a higher CAGR in the market during the forecast period.
Asia-Pacific contract research organization Market, by Type – 2020 and 2028
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End User:
Based on end user, the Asia-Pacific contract research organization market is segmented into pharmaceutical and biotechnology companies and medical device companies. The pharmaceutical and biotechnology companies segment held the largest share of the market in 2020, and the same segment is expected to register the highest CAGR during 2021–2028.
Strategic Insights
Players operating in the Asia-Pacific contract research organization market adopt collaboration and partnership strategies to meet the demands of end users through the introduction of technologically advanced offerings, and these strategies significantly support the growth of the market.
By Type
- Early Phase Development Services
- Drug Discovery Services
- Pre-Clinical Services
- Clinical Research Services
- Laboratory Services
- Post-Approval Services
By End User
- Pharmaceutical and Biotechnology Companies
- Medical Device Companies
By Country
- China
- India
- South Korea
- Japan
- Australia
Company Profiles
- IQVIA Inc.
- Parexel International Corporation
- Charles River Laboratories, Inc.
- ACM Global Laboratories
- Merck KGaA (Bio Reliance Corporation)
- Celerion
- Clinitude
- Laboratory Corporation of America Holdings (Covance Inc.)
- Novotech
- Icon PLC
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Asia-Pacific Contract Research Organization Market – By Type
1.3.2 Asia-Pacific Contract Research Organization Market – By End User
1.3.3 Asia-Pacific Contract Research Organization Market– By Geography
2. Contract Research Organization Market– Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia-Pacific Contract Research Organization Market– Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 APAC PEST Analysis
4.3 Expert Opinion
4.4 Pharmaceutical Drugs Market Forecast and Analysis, By Region
4.5 Global R&D Spend by Pharmaceutical and Biotechnology Companies, Forecast To 2028
4.6 Global Outsourcing Scenario (Qualitative Insights)
5. Contract Research Organization Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing R&D Expenditures and Outsourcing Activities
5.1.2 Increasing Number of Clinical Trials in Asia Pacific
5.2 Market Restraint
5.2.1 Availability of Skilled Professionals
5.3 Market Opportunity
5.3.1 Rising Demand for Specialized Testing Services
5.4 Future Trend
5.4.1 Rising Market Consolidation
5.5 Impact analysis
6. Contract Research Organization Market– Asia-Pacific Analysis
6.1 Asia-Pacific Contract Research Organization Market Revenue Forecast and Analysis
6.2 Market Positioning of Key Players
7. Contract Research Organization (CRO) Market Analysis – By Type
7.1 Overview
7.2 Contract Research Organization (CRO) Market Revenue Share, by Type (2020–2028)
7.3 Early Phase Development Services
7.3.1 Overview
7.3.2 Early Phase Development Services: Contract Research Organization (CRO) Market – Revenue and Forecast to 2028 (US$ Million)
7.3.3 Drug Discovery Services Market
7.3.3.1 Overview
7.3.3.2 Drug Discovery Services: Contract Research Organization (CRO) Market – Revenue and Forecast to 2028 (US$ Million)
7.3.4 Pre-Clinical Services Market
7.3.4.1 Overview
7.3.4.2 Pre-Clinical Services: Contract Research Organization (CRO) Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Clinical Research Services
7.4.1 Overview
7.4.2 Clinical Research Services: Contract Research Organization (CRO) Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Laboratory Services
7.5.1 Overview
7.5.2 Laboratory Services: Contract Research Organization (CRO) Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Post-Approval Services
7.6.1 Overview
7.6.2 Post-Approval Services: Contract Research Organization (CRO) Market – Revenue and Forecast to 2028 (US$ Million)
8. Contract Research Organization (CRO) Market Analysis – By End User
8.1 Overview
8.2 Contract Research Organization (CRO) Market Revenue Share, by End User (2020–2028)
8.3 Pharmaceutical and Biotechnology Companies
8.3.1 Overview
8.3.2 Pharmaceutical and Biotechnology Companies: Contract Research Organization (CRO) Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Medical Device Companies
8.4.1 Overview
8.4.2 Medical Device Companies: Contract Research Organization (CRO) Market – Revenue and Forecast to 2028 (US$ Million)
9. Contract Research Organization Market Analysis and Forecasts To 2028 – Geographical Analysis
9.1 Asia-Pacific: Contract Research Organization Market
9.1.1 Overview
9.1.2 Asia-Pacific: Contract Research Organization Market - Revenue and Forecast to 2028 (USD Million)
9.1.3 Asia-Pacific: Contract Research Organization Market, by Type, 2019–2028 (USD Million)
9.1.3.1.1 Asia-Pacific: Early Phase Development Services Market, by Type, 2019–2028 (USD Million)
9.1.4 Asia-Pacific: Contract Research Organization Market, by End User, 2019–2028 (USD Million)
9.1.5 Asia-Pacific: Contract Research Organization Market, by Country, 2020 & 2028 (%)
9.1.6 China: Contract Research Organization Market – Revenue and Forecast to 2028 (USD Million)
9.1.6.1 China: Contract Research Organization Market – Revenue and Forecast to 2028 (USD Million)
9.1.6.2 China: Contract Research Organization Market, by Type, 2019–2028 (USD Million)
9.1.6.2.1 China: Early Phase Development Services Market, by Type, 2019–2028 (USD Million)
9.1.6.2.2 China: Imaging Tests Market, by End User, 2019–2028 (USD Million)
9.1.6.3 Japan: Contract Research Organization Market – Revenue and Forecast to 2028 (USD Million)
9.1.6.4 Japan: Contract Research Organization Market – Revenue and Forecast to 2028 (USD Million)
9.1.6.5 Japan: Contract Research Organization Market, by Type, 2019–2028 (USD Million)
9.1.6.5.1 Japan: Early Phase Development Services Market, by Type, 2019–2028 (USD Million)
9.1.6.6 Japan: Contract Research Organization Market, by End User, 2019–2028 (USD Million)
9.1.7 India: Contract Research Organization Market – Revenue and Forecast to 2028 (USD Million)
9.1.7.1 India: Contract Research Organization Market – Revenue and Forecast to 2028 (USD Million)
9.1.7.2 India: Contract Research Organization Market, by Type, 2019–2028 (USD Million)
9.1.7.2.1 India: Early Phase Development Services Market, by Type, 2019–2028 (USD Million)
9.1.7.3 India: Contract Research Organization Market, by End User, 2019–2028 (USD Million)
9.1.8 Australia: Contract Research Organization Market – Revenue and Forecast to 2028 (USD Million)
9.1.8.1 Australia: Contract Research Organization Market – Revenue and Forecast to 2028 (USD Million)
9.1.8.2 Australia: Contract Research Organization Market, by Type, 2019–2028 (USD Million)
9.1.8.2.1 Australia: Early Phase Development Services Market, by Type, 2019–2028 (USD Million)
9.1.8.3 Australia: Contract Research Organization Market, by End User, 2019–2028 (USD Million)
9.1.9 South Korea: Contract Research Organization Market – Revenue and Forecast to 2028 (USD Million)
9.1.9.1 South Korea: Contract Research Organization Market – Revenue and Forecast to 2028 (USD Million)
9.1.9.2 South Korea: Contract Research Organization Market, by Type, 2019–2028 (USD Million)
9.1.9.2.1 South Korea: Early Phase Development Services Market, by Type, 2019–2028 (USD Million)
9.1.9.3 South Korea: Contract Research Organization Market, by End User, 2019–2028 (USD Million)
9.1.10 Rest of Asia-Pacific: Contract Research Organization Market – Revenue and Forecast to 2028 (USD Million)
9.1.10.1 Rest of Asia-Pacific: Contract Research Organization Market – Revenue and Forecast to 2028 (USD Million)
9.1.10.2 Rest of Asia-Pacific: Contract Research Organization Market, by Type, 2019–2028 (USD Million)
9.1.10.2.1 Rest of Asia-Pacific: Early Phase Development Services Market, by Type, 2019–2028 (USD Million)
9.1.10.3 Rest of Asia-Pacific: Contract Research Organization Market, by End User, 2019–2028 (USD Million)
10. Impact of COVID-19 Pandemic on Asia-Pacific Contract Research Organization Market
10.1 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11. Contract Research Organization Market– Industry Landscape
11.1 Overview
11.2 Growth Strategies in The Asia Pacific Contract Research Organization (CRO) Devices Market, 2018-2021
11.3 Organic Growth Strategies
11.3.1 Overview
11.3.2 Recent Organic Developments in the Asia Pacific Contract Research Organization (CRO) Market
11.4 Inorganic Growth Strategies
11.4.1 Overview
12. Company Profiles
12.1 IQVIA Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 PAREXEL INTERNATIONAL CORPORATION
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 CHARLES RIVER LABORATORIES, INC.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 ACM Global Laboratories
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 MERCK KGaA (Bio Reliance Corporation)
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Celerion
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Clinitude
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Laboratory Corporation of America Holdings (Covance Inc.)
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Novotech
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 ICON PLC
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About the Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. Global Pharmaceutical Drugs Market, By Region – Revenue and Forecast to 2028 (USD Million)
Table 2. Global R&D Expenditure by Pharmaceutical and Biotechnology Companies– Revenue and Forecast to 2028 (USD Million)
Table 3. R&D Investments by Pharmaceutical Companies in Asia
Table 4. Asia-Pacific Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 5. Asia-Pacific: Early Phase Development Services Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 6. Asia-Pacific Contract Research Organization Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 7. China: Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 8. China: Early Phase Development Services Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 9. China: Imaging Tests Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 10. Japan: Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 11. Japan: Early Phase Development Services Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 12. Japan: Contract Research Organization Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 13. India: R&D Spending of Indian Pharmaceutical Companies (2017)
Table 14. India: Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 15. India: Early Phase Development Services Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 16. India: Contract Research Organization Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 17. Australia: Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 18. Australia: Early Phase Development Services Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 19. Australia: Contract Research Organization Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 20. South Korea: Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 21. South Korea: Early Phase Development Services Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 22. South Korea: Contract Research Organization Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 23. Rest of Asia-Pacific: Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 24. Rest of Asia-Pacific: Early Phase Development Services Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 25. Rest of Asia-Pacific: Contract Research Organization Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 26. Recent Inorganic Developments in The Asia Pacific Contract Research Organization (CRO) Market
Table 27. Glossary of Terms, Contract Research Organization Market
LIST OF FIGURES
Figure 1. Contract Research Organization Market Segmentation
Figure 2. Contract Research Organization Segmentation, By Region
Figure 3. Asia-Pacific Contract Research Organization Market Overview
Figure 4. Clinical Research Services Held Largest Share of Type Segment in Contract Research Organization Market
Figure 5. India to Show Remarkable Growth During Forecast Period
Figure 6. Asia-Pacific Contract Research Organization Market– Leading Country Markets (US$ Million)
Figure 7. Asia-Pacific Contract Research Organization Market, Industry Landscape
Figure 8. APAC: PEST Analysis
Figure 9. Contract Research Organization Market Impact Analysis of Driver and Restraints
Figure 10. Asia-Pacific Contract Research Organization Market– Revenue Forecast and Analysis – 2020- 2028
Figure 11. Market Positioning of Key Players in Asia-Pacific Contract Research Organization Market
Figure 12. Contract Research Organization (CRO) Market Revenue Share, by Type (2020–2028)
Figure 13. Early Phase Development Services: Contract Research Organization (CRO) Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Drug Discovery Services: Contract Research Organization (CRO) Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Pre-Clinical Services: Contract Research Organization (CRO) Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Clinical Research Services: Contract Research Organization (CRO) Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Laboratory Services: Contract Research Organization (CRO) Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Post-Approval Services: Contract Research Organization (CRO) Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Contract Research Organization (CRO) Market Revenue Share, by End User (2020–2028)
Figure 20. Pharmaceutical and Biotechnology Companies: Contract Research Organization (CRO) Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Medical Device Companies: Contract Research Organization (CRO) Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Asia-Pacific: Contract Research Organization Market, by Key Country – Revenue (2020) (USD Million)
Figure 23. Asia-Pacific Contract Research Organization Market Revenue and Forecast to 2027 (USD Million)
Figure 24. Asia-Pacific: Contract Research Organization Market, by Country, 2020 & 2028 (%)
Figure 25. China: Contract Research Organization Market – Revenue and Forecast to 2028 (USD Million)
Figure 26. Japan: Contract Research Organization Market – Revenue and Forecast to 2028 (USD Million)
Figure 27. India: Contract Research Organization Market – Revenue and Forecast to 2028 (USD Million)
Figure 28. Australia: Contract Research Organization Market – Revenue and Forecast to 2028 (USD Million)
Figure 29. South Korea: Contract Research Organization Market – Revenue and Forecast to 2028 (USD Million)
Figure 30. Rest of Asia-Pacific: Contract Research Organization Market – Revenue and Forecast to 2028 (USD Million)
Figure 31. Impact of COVID-19 Pandemic on Contract Research Organization Market in Asia-Pacific Countries
Figure 32. Growth Strategies in The Asia Pacific Contract Research Organization (CRO) Devices Market, 2018-2021
The List of Companies - Asia Pacific Contract Research Organization (CRO) Market
- IQVIA Inc.
- Parexel International Corporation
- Charles River Laboratories, Inc.
- ACM Global Laboratories
- Merck KGaA (Bio Reliance Corporation)
- Celerion
- Clinitude
- Laboratory Corporation of America Holdings (Covance Inc.)
- Novotech
- Icon PLC
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific contract research organization market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
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- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution