Drug Discovery CRO Market was valued at USD 10.2 Billion in 2022 and is projected to reach USD 25.4 Billion by 2030, growing at a CAGR of 12.2% from 2024 to 2030.
During this period, the global Drug Discovery CRO Market saw an influx of investment in new technologies, such as artificial intelligence (AI), machine learning (ML), and automation, enabling CROs to accelerate drug discovery and reduce development timelines. These advancements helped pharmaceutical companies streamline the discovery process, leading to faster market entry for new treatments. Additionally, the need for precision medicine, coupled with the demand for more tailored therapeutic solutions, further propelled the market's growth. With many pharmaceutical companies focusing on expanding their R&D pipeline, CROs became a vital partner in ensuring clinical trials were conducted efficiently and within regulatory frameworks.
The market also experienced a steady increase in the adoption of virtual trials and decentralized clinical trial models. These approaches provided flexibility and reduced geographical and logistical barriers, making clinical trials more accessible to diverse populations and enhancing data collection. As a result, the demand for CROs specializing in drug discovery grew rapidly, with companies seeking trusted partners to ensure regulatory compliance and accelerate the development of new drugs.
Looking ahead to the demand from 2023 to 2033, the Drug Discovery CRO Market is expected to experience continued growth, albeit with some evolving trends. The focus on biotechnology and the increasing complexity of molecular research will continue to drive demand for CRO services, but with a shift towards more integrated and specialized solutions. CROs will increasingly need to adopt next-generation technologies such as CRISPR gene editing, next-gen sequencing, and biomarker identification to keep up with advancements in drug discovery.
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The global Drug Discovery CRO Market has witnessed significant transformations between 2018 and 2022, driven by various factors such as technological advancements, increased demand for outsourced drug development, and the rise of personalized medicine. The market outlook from 2018 to 2022 reflected a robust growth trajectory, with Contract Research Organizations (CROs) playing a crucial role in supporting pharmaceutical and biotechnology companies. The demand for CRO services was largely fueled by the increasing complexity of drug discovery processes and the growing need for cost-effective solutions in the research and development (R&D) space.
Charles River
Wuxi Apptec
Eurofins Scientific
Pharmaron
Labcorp
ChemPartner
Viva
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Drug Discovery CRO Market
Drug
Biologics
Based on Types the Market is categorized into Below types that held the largest Drug Discovery CRO market share In 2023.
HTS
FBDD
SBDD
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Drug Discovery CRO Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Drug Discovery CRO Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Drug Discovery CRO Market, By Type
6. Global Drug Discovery CRO Market, By Application
7. Global Drug Discovery CRO Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Drug Discovery CRO Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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