Australia Medical Device Contract Research Organization Market Size & Outlook
Australia medical device contract research organization market, 2018-2030 (US$M)
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Australia medical device contract research organization market highlights
- The Australia medical device contract research organization market generated a revenue of USD 375.4 million in 2023 and is expected to reach USD 690.9 million by 2030.
- The Australia market is expected to grow at a CAGR of 9.1% from 2024 to 2030.
- In terms of segment, clinical was the largest revenue generating phase in 2023.
- Preclinical is the most lucrative phase segment registering the fastest growth during the forecast period.
Medical device contract research organization market data book summary
| Market revenue in 2023 | USD 375.4 million |
| Market revenue in 2030 | USD 690.9 million |
| Growth rate | 9.1% (CAGR from 2023 to 2030) |
| Largest segment | Clinical |
| Fastest growing segment | Preclinical |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Preclinical, Clinical |
| Key market players worldwide | IQVIA Holdings Inc, Charles River Laboratories International Inc, Icon PLC, Syneos Health, Labcorp Holdings Inc, Wuxi AppTec Co Ltd, Medpace Holdings Inc, Eurofins Scientific SE, Promedica International, Qserve |
Other key industry trends
- In terms of revenue, Australia accounted for 4.8% of the global medical device 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 medical device 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 613.7 million by 2030.
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Medical Device Contract Research Organization Market Scope
Medical Device Contract Research Organization Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia medical device 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 medical device contract research organization market will help companies and investors design strategic landscapes.
Clinical was the largest segment with a revenue share of 87.91% in 2023. Horizon Databook has segmented the Australia medical device contract research organization market based on preclinical, clinical covering the revenue growth of each sub-segment from 2018 to 2030.
There is a high demand for a wide range of medical equipment in Australia. The market is very competitive and mature. The country's population expects superior quality medical treatments, and there is a constant need for state-of-the-art medical products. The demand for medical products and other healthcare services is projected to increase, owing to continuous technological developments, rapidly aging population, increasing burden of chronic diseases, and growing individual income.
Besides, the longest life expectancies across the globe & the demand for medical devices is expected to grow with increase in the geriatric population. Opportunities exist for products that can provide a significant improvement in clinical outcomes.
There is also growing demand for products that aid faster recovery, reduce hospitalization, & rehabilitation costs, and manage chronic diseases. These factors are anticipated to boost the demand for CRO services for medical devices in Australia.
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Our clientele includes a mix of medical device 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 medical device contract research organization market , including forecasts for subscribers. This country databook contains high-level insights into Australia medical device contract research organization market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia medical device contract research organization market size, by phase, 2018-2030 (US$M)
Australia Medical Device Contract Research Organization Market Outlook Share, 2023 & 2030 (US$M)
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