Singapore Healthcare Contract Research Organization Market Size & Outlook
Singapore healthcare contract research organization market, 2018-2030 (US$M)
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Singapore healthcare contract research organization market highlights
- The Singapore healthcare contract research organization market generated a revenue of USD 1,685.4 million in 2023 and is expected to reach USD 2,933.4 million by 2030.
- The Singapore market is expected to grow at a CAGR of 8.2% 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 1,685.4 million |
| Market revenue in 2030 | USD 2,933.4 million |
| Growth rate | 8.2% (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, Singapore accounted for 3.3% 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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Singapore 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 76.04% in 2023. Horizon Databook has segmented the Singapore 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 pharmaceutical industry is increasingly drawn to Singapore due to its research & innovation, trusted regulatory & IP environment, and good talent base. Singapore is a lucrative market for preclinical CRO services.
However, the registration process can be a challenge. Unlike other countries, Singapore still depends on in-country testing and its clinical data to approve drugs, even if the drug is already being sold in other major markets.
Moreover, increasing number of drugs entering preclinical trials and rising pressure to reduce R&D expenses are among factors expected to contribute to the increasing demand for preclinical CRO services, thereby boosting the market.
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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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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Singapore healthcare contract research organization market , including forecasts for subscribers. This country databook contains high-level insights into Singapore healthcare contract research organization market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Singapore healthcare contract research organization market size, by type, 2018-2030 (US$M)
Singapore Healthcare Contract Research Organization Market Outlook Share, 2023 & 2030 (US$M)
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