India Medical Device Contract Research Organization Market Size & Outlook
India medical device contract research organization market, 2018-2030 (US$M)
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India medical device contract research organization market highlights
- The India medical device contract research organization market generated a revenue of USD 308.1 million in 2023 and is expected to reach USD 613.7 million by 2030.
- The India market is expected to grow at a CAGR of 10.3% 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 308.1 million |
| Market revenue in 2030 | USD 613.7 million |
| Growth rate | 10.3% (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, India accounted for 4.0% 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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India 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 88.25% in 2023. Horizon Databook has segmented the India medical device contract research organization market based on preclinical, clinical covering the revenue growth of each sub-segment from 2018 to 2030.
India is considered the second-most highly populated country in the world. According to Invest India, the life expectancy in the country is expected to grow from 67.5 years to 70.0 years. Invest India also states that chronic disease accounts for 50.0% of the total disease burden.
These factors are contributing to the demand for new medical devices in the country to meet the healthcare needs of the growing population. Moreover, the availability of skilled laborers, low cost associated with outsourcing research services in India, and increase in government spending on healthcare R&D are supporting the medical device contract research organization market in India.
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Target buyers of India medical device contract research organization market databook
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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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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 India medical device contract research organization market , including forecasts for subscribers. This country databook contains high-level insights into India medical device contract research organization market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India medical device contract research organization market size, by phase, 2018-2030 (US$M)
India Medical Device Contract Research Organization Market Outlook Share, 2023 & 2030 (US$M)
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