U.S. Healthcare Contract Research Organization Market Size & Outlook
U.S. healthcare contract research organization market, 2018-2030 (US$M)
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U.S. healthcare contract research organization market highlights
- The U.S. healthcare contract research organization market generated a revenue of USD 12,029.9 million in 2023 and is expected to reach USD 17,126.7 million by 2030.
- The U.S. market is expected to grow at a CAGR of 5.2% 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 12,029.9 million |
| Market revenue in 2030 | USD 17,126.7 million |
| Growth rate | 5.2% (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, U.S. accounted for 23.8% 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 North America, U.S. healthcare contract research organization market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 447.2 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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U.S. 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 75.83% in 2023. Horizon Databook has segmented the U.S. 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 in the U.S. is strong, and research firms devote almost one-fifth of their earnings to R&D. The cost of developing a new drug is high; after 10 years of work, it can reach USD 2.6 billion.
About half of global medical R&D is financed by the U.S. market, according to a 2018 Council of Economic Advisers report. Biologics accounted for USD 211 billion, or 43%, of all medical spending in the U.S. in 2019.
Even though biosimilars for only 11 molecules have emerged, the development & approval of biosimilars has accelerated, with 33 approvals across 13 molecules. Biosimilars have the potential to generate USD 80 billion in revenue over the next 5 years, with USD 16 billion–36 billion generated in 2024.
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Target buyers of U.S. healthcare contract research organization market databook
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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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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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 U.S. healthcare contract research organization market , including forecasts for subscribers. This country databook contains high-level insights into U.S. healthcare contract research organization market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. healthcare contract research organization market size, by type, 2018-2030 (US$M)
U.S. Healthcare Contract Research Organization Market Outlook Share, 2023 & 2030 (US$M)
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