Australia Healthcare Contract Research Organization Market Size & Outlook
Australia healthcare contract research organization market, 2018-2030 (US$M)
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Australia healthcare contract research organization market highlights
- The Australia healthcare contract research organization market generated a revenue of USD 2,706.4 million in 2023 and is expected to reach USD 4,889.4 million by 2030.
- The Australia market is expected to grow at a CAGR of 8.8% from 2024 to 2030.
- In terms of segment, clinical was the largest revenue generating type in 2023.
- Pre-Clinical is the most lucrative type segment registering the fastest growth during the forecast period.
Healthcare contract research organization market data book summary
| Market revenue in 2023 | USD 2,706.4 million |
| Market revenue in 2030 | USD 4,889.4 million |
| Growth rate | 8.8% (CAGR from 2023 to 2030) |
| Largest segment | Clinical |
| Fastest growing segment | Pre-Clinical |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Drug Discovery, Pre-Clinical, Clinical |
| Key market players worldwide | Icon PLC, Charles River Laboratories International Inc, IQVIA Holdings Inc, GVK Biosciences, Labcorp Holdings Inc, Thermo Fisher Scientific Inc, PAREXEL, Dassault Systemes SE, Pharmaron Beijing Co Ltd Ordinary Shares - Class H, SGS AG, Worldwide Clinical Trials, Wuxi AppTec Co Ltd, Caidya |
Other key industry trends
- In terms of revenue, Australia accounted for 5.4% of the global healthcare contract research organization market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan healthcare contract research organization market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 4,181.3 million by 2030.
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Healthcare Contract Research Organization Market Scope
Healthcare Contract Research Organization Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia healthcare contract research organization market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to healthcare contract research organization market will help companies and investors design strategic landscapes.
Clinical was the largest segment with a revenue share of 75.8% in 2023. Horizon Databook has segmented the Australia healthcare contract research organization market based on drug discovery, pre-clinical, clinical covering the revenue growth of each sub-segment from 2018 to 2030.
The clinical research and healthcare industry in Australia is expected to experience steady growth over the forecast period due to its superior infrastructure, top-notch research capabilities, and highly skilled researchers.
Each year, approximately 1,000 new clinical trials are initiated in the country, spanning from phase I to IV for medicines and medical devices. Australia is a cost-competitive option for early-phase clinical trials compared to the U.S., with a cost savings of 28% before tax incentives and 60% after tax incentives.
The country’s simplified regulatory process for clinical trial approval, known as the Clinical Trial Notification scheme, minimizes the regulatory burden on sponsors by delegating the trial review process to ethics committees and only requiring notification of the outcome.
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Our clientele includes a mix of healthcare contract research organization market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia healthcare contract research organization market , including forecasts for subscribers. This country databook contains high-level insights into Australia healthcare contract research organization market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia healthcare contract research organization market size, by type, 2018-2030 (US$M)
Australia Healthcare Contract Research Organization Market Outlook Share, 2023 & 2030 (US$M)
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