We recently published a summary article on the size of the contract research market for the period of 2023 to 2028. We collated data from multiple sources. Each of these sources has utilized its own methodologies and datasets to represent market conditions. By collecting the information from all these sources, we aimed to present readers with an overview of the CRO market’s size and growth rate. Please read the full summary article here.
In this post, we will provide the data collected from these reports specifically for the 2023 year and update it yearly over the upcoming years in comparison to what the predictions stated.
We have collated data from 9 different research reports on the CRO market for the years 2023 to 2028. The following data represents the revenues/market size for 2023 from the list of CROs that each research report analyzed. We highlighted the CRO market size that each research report published.
By averaging the data from all the research reports, the size of the global contract research organization (CRO) market is estimated to be anywhere from USD $48.19 billion to USD $82.55 billion in 2023, and averages out to be USD $64.42 Billion for 2023.
Across all research reports, North America was found to control a plurality of the overall CRO market with estimates anywhere from 43% to 52%. However, all sources indicated that other regions, such as Europe and Asia-Pacific, are witnessing rapid growth, driven by an increase in clinical research activities, favourable government initiatives and the availability of skilled personnel.