Global Contract Research Organization (CRO) Growth Opportunities

Global Contract Research Organization (CRO) Growth Opportunities

Strong Competitive Intensity is Mandating a Greater Industry Convergence Resulting in a Strong Market Growth

RELEASE DATE
11-Nov-2022
REGION
North America
Research Code: PDC6-01-00-00-00
SKU: HC03601-NA-MT_27115
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Description

The COVID-19 pandemic led to a sudden surge in R&D activities across the world. Both small and large pharmaceutical and biotech companies were engaged in tremendous efforts to either develop new molecules or repurpose existing therapies as potential drugs for COVID-19 treatment.

The trend is likely to continue with small-to-medium-segment and emerging biopharma participants introducing novel therapies across various indications, primarily oncology, infectious diseases, and neurology. Per Pharma Intelligence's annual R&D review, global non-clinical and clinical pipelines have grown by leaps and bounds--more than 10,000 molecules were in preclinical development and about 6,000 molecules were in clinical development as of January 2022.

Industry dynamics saw a huge shift with much of the clinical research being conducted in emerging economies and third-world countries, such as India, Indonesia, China, LATAM, the Middle East, and South Africa. As a result, several local CROs expanded their market reach by partnering with larger, global CROs and providing local clinical research support. The industry also moved to adopt large-scale decentralized clinical trials, with a year-over-year growth of 50% and 28% between 2020-2021 and 2021-2022, respectively. Such changes expanded the participation of eClinical solution vendors and encouraged collaborations with CROs and pharmaceutical companies, providing cutting-edge solutions for data capture, pharmacovigilance, trial management, and other applications.

Drug discovery and preclinical service outsourcing (traditionally conducted in house because of IP infringement issues) has increased, owing to
the rise in specialized drug discovery and preclinical CROs and the CRDMO model gaining traction. CROs work as risk-sharing partners and offer one-stop-shop services to pharmaceutical companies, thereby cutting down costs and shortening the timeline of development.

Key Issues Addressed:

  • What are the general industry trends pertaining to the global CRO industry?
  • What are the key drivers triggering large-scale outsourcing of both early- and late-stage nonclinical and clinical development?
  • What are the key emerging business models providing a competitive advantage to pharmaceutical sponsors and how is it supporting industry convergence?
  • Who are the leading participants driving market growth?
  • What is the opportunity for small- to medium-segment CRO participants in a sea of competitors?
  • How is the application of technology supporting the growth of the CRO market and, in general, the drug development outsourcing services?

Author: Aarti Siddhesh Chitale
 

RESEARCH: INFOGRAPHIC

This infographic presents a brief overview of the research, and highlights the key topics discussed in it.
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Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Contract Research Organization (CRO) Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Segmentation

Peripheral Segments

Market Trend Analysis

Market Trend Analysis (continued)

Vendor Ecosystem

Growth Drivers

Growth Restraints

Services and Stakeholders

CRDMO—The Future of Outsourcing

CRDMO—The Future of Outsourcing (continued)

CRDMO Transactions to Support Drug Discovery and Development

CRDMO Transactions to Support Drug Discovery and Development (continued)

Digitization of the Drug Development Value Chain

Digitization of Clinical Research

DCTs—Future Impact on the CRO Industry

Investment Trends—Collaborative Approach for Drug Development

Early- to Late-stage CRO Service Collaboration—Nonclinical

Early- to Late-stage CRO Service Collaboration—Nonclinical (continued)

Early- to Late-stage CRO Service Collaboration—Nonclinical (continued)

Early- to Late-stage CRO Service Collaboration—Clinical

Early- to Late-stage CRO Service Collaboration—Clinical (continued)

Early- to Late-stage CRO Service Collaboration—Clinical (continued)

Technology Partnerships Supporting Industry Convergence

Technology Partnerships Supporting Industry Convergence (continued)

Technology Partnerships Supporting Industry Convergence (continued)

Expanding CRO Expertise through Industry Acquisitions

Expanding CRO Expertise through Industry Acquisitions (continued)

Expanding CRO Expertise through Industry Acquisitions (continued)

Expanding CRO Expertise through Industry Acquisitions (continued)

Expanding CRO Expertise through Industry Acquisitions (continued)

Expanding CRO Expertise through Industry Acquisitions (continued)

Growth Metrics

Forecast Assumptions

Forecast Assumptions (continued)

Revenue Forecast

Revenue Forecast—Clinical vs. Nonclinical

Revenue Forecast Analysis

Revenue Forecast Analysis (continued)

Growth Metrics

Revenue Forecast Assumptions and Methodology

Key Services—Drug Discovery and Preclinical Research,

Nuances of Drug Discovery and Preclinical Development

Pharmaceutical R&D Expenditure

Revenue Forecast

Revenue Forecast by Nonclinical Phases of Development

Revenue Forecast Analysis

Revenue Forecast Analysis (continued)

Revenue Forecast Analysis (continued)

Growth Metrics

Revenue Forecast Assumptions

Revenue Forecast Methodology

Revenue Forecast

Revenue Forecast by Clinical Phases of Development

Percent Revenue Forecast by Clinical Phases of Development

Revenue Forecast Analysis

Revenue Forecast Analysis (continued)

Clinical Trial Split by Therapy Area

Revenue Share Analysis By Region

North America—Key Trends

North America—Revenue Forecast by Clinical Development Phase

North America—Revenue Forecast Analysis

Europe—Key Trends

Europe—Revenue Forecast by Clinical Development Phase

Europe—Revenue Share Analysis

APAC—Key Trends

APAC—Revenue Forecast by Clinical Development Phases

APAC—Revenue Share Analysis

RoW—Key Trends

RoW—Revenue Forecast by Clinical Development Phase

RoW—Revenue Share Analysis

Competitive Environment

Key Competitors

Revenue Share

Revenue Share Analysis

Revenue Share Analysis (continued)

Cost Split by Service Type

Peripheral Services—Analytical Testing Services

Peripheral Services—Clinical Outcomes and Post-market Surveillance

Peripheral Services—Data Capture and Management

Growth Opportunity 1: Agile Partnership Models for Drug Discovery and Preclinical Drug Testing

Growth Opportunity 1: Agile Partnership Models for Drug Discovery and Preclinical Drug Testing (continued)

Growth Opportunity 2: Bioanalytical CRO Partnerships for Customized Testing Solutions for Biologics

Growth Opportunity 2: Bioanalytical CRO Partnerships for Customized Testing Solutions for Biologics (continued)

Growth Opportunity 3: eClinical Solutions for Pharmacovigilance Services

Growth Opportunity 3: eClinical Solutions for Pharmacovigilance Services (continued)

Growth Opportunity 4: AI-enabled Oncology Trial Design, Recruitment, and Execution

Growth Opportunity 4: AI-enabled Oncology Trial Design, Recruitment, and Execution (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

The COVID-19 pandemic led to a sudden surge in R&D activities across the world. Both small and large pharmaceutical and biotech companies were engaged in tremendous efforts to either develop new molecules or repurpose existing therapies as potential drugs for COVID-19 treatment. The trend is likely to continue with small-to-medium-segment and emerging biopharma participants introducing novel therapies across various indications, primarily oncology, infectious diseases, and neurology. Per Pharma Intelligence's annual R&D review, global non-clinical and clinical pipelines have grown by leaps and bounds--more than 10,000 molecules were in preclinical development and about 6,000 molecules were in clinical development as of January 2022. Industry dynamics saw a huge shift with much of the clinical research being conducted in emerging economies and third-world countries, such as India, Indonesia, China, LATAM, the Middle East, and South Africa. As a result, several local CROs expanded their market reach by partnering with larger, global CROs and providing local clinical research support. The industry also moved to adopt large-scale decentralized clinical trials, with a year-over-year growth of 50% and 28% between 2020-2021 and 2021-2022, respectively. Such changes expanded the participation of eClinical solution vendors and encouraged collaborations with CROs and pharmaceutical companies, providing cutting-edge solutions for data capture, pharmacovigilance, trial management, and other applications. Drug discovery and preclinical service outsourcing (traditionally conducted in house because of IP infringement issues) has increased, owing to the rise in specialized drug discovery and preclinical CROs and the CRDMO model gaining traction. CROs work as risk-sharing partners and offer one-stop-shop services to pharmaceutical companies, thereby cutting down costs and shortening the timeline of development.--BEGIN PROMO--

Key Issues Addressed:

  • What are the general industry trends pertaining to the global CRO industry
  • What are the key drivers triggering large-scale outsourcing of both early- and late-stage nonclinical and clinical development
  • What are the key emerging business models providing a competitive advantage to pharmaceutical sponsors and how is it supporting industry convergence
  • Who are the leading participants driving market growth
  • What is the opportunity for small- to medium-segment CRO participants in a sea of competitors
  • How is the application of technology supporting the growth of the CRO market and, in general, the drug development outsourcing services

Author: Aarti Siddhesh Chitale
 

More Information
Author Aarti Siddhesh Chitale
Industries Healthcare
No Index No
Is Prebook No
Podcast No
WIP Number PDC6-01-00-00-00