Colombia Healthcare Contract Research Organization Market Size & Outlook
Colombia healthcare contract research organization market, 2018-2030 (US$M)
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Colombia healthcare contract research organization market highlights
- The Colombia healthcare contract research organization market generated a revenue of USD 555.4 million in 2023 and is expected to reach USD 808.1 million by 2030.
- The Colombia market is expected to grow at a CAGR of 5.5% 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 555.4 million |
| Market revenue in 2030 | USD 808.1 million |
| Growth rate | 5.5% (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, Colombia accounted for 1.1% 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 Latin America, Brazil healthcare contract research organization market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 1,739.0 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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Colombia 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 75.86% in 2023. Horizon Databook has segmented the Colombia 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 government of Colombia is undertaking various initiatives to make Colombia more attractive for clinical research. The country’s National Institute of Food and Drug Monitoring (INVIMA), in April 2016, announced the reduction of time for evaluation of study protocol and approval process.
The timelines for clinical research associated with investigational drugs have been reduced to 60 days from an average 135 days. Furthermore, as per INVIMA, conducting research in Colombia is cost-effective, which results in more than 30% savings as compared to the U.S. and Europe.
The availability of a large patient pool, nearly 600 million people, also serve as a driving factor to conduct clinical trials in this country. Hence, creating demand for healthcare contract research organizations.
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Horizon Databook provides a detailed overview of country-level data and insights on the Colombia healthcare contract research organization market , including forecasts for subscribers. This country databook contains high-level insights into Colombia healthcare contract research organization market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Colombia healthcare contract research organization market size, by type, 2018-2030 (US$M)
Colombia Healthcare Contract Research Organization Market Outlook Share, 2023 & 2030 (US$M)
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