Europe CRO Services Market

Europe CRO Services Market Size (2024 to 2032)

The Europe CRO services market is estimated to be worth USD 8.96 billion in 2024 and is projected to reach a valuation of USD 14.41 billion by 2032. it is predicted to register a CAGR of 6.12% from 2024 to 2032.

MARKET SCENARIO

Clinical research, consultation, and laboratory CRO services are progressively utilized by pharmaceutical industries, which is the primary factor accelerating the European CRO services market growth.

The growing expenditure for conducting R&D regarding discovering, testing, and upgrading new products is accelerating regional market growth. In Germany, the pharmaceutical industries' expenses in 2018 are likely to have increased from USD 7,100.6 million in 2015 to USD 7,113.2 million, according to data published by the European Federation of Pharmaceutical Industries and Associations (EFPIA). The growing patient base suffering from various diseases across the European region is promoting the need for more CRO services, which is predicted to result in market growth during the forecast period. Furthermore, growing awareness in healthcare, escalating demand for therapeutically successful products, and upgrading technologies are likely to drive the Europe CRO services market growth.

The growing number of clinical trial activities across the European region results in the Europe CRO services market growth. Clinical trials play a significant role in developing effective drugs. To conduct these clinical trials, CROs are hired by sponsors to perform a task in the presence of the sponsor as per their requirements. Additionally, increasing clinical trials for complex cell and gene therapy require CRO services, which drive the market growth in this region.

The growing expenditure on drug development processes contributes to the European market's growth.

The drug development process includes several preclinical tests and different phases of clinical trials; this requires a considerable investment to get the best drug for the patients. For this investment, CROs play a significant role, and these CROs have a partnership with the sponsor and have complete information about the drug and the sponsor. Furthermore, the growing investments in R&D activities by the market participants are boosting the market’s growth rate. Due to increasing chronic and infectious diseases such as cancer, diabetes, HIV, and AIDS, pharmaceutical and biopharmaceutical companies require heavy investment in researching the disease and manufacturing new drugs.

However, factors such as a lack of skilled professionals to handle the operations of CRO services are among the significant factors that negatively impact the regional market growth. In addition, strict government rules, trust issues associated with the sponsors and CRO services organizations, lack of high-quality standards, and lack of proper sponsors for CROs are hampering the market’s growth rate in Europe to a considerable extent. Furthermore, the snowballing administrative stress on contract research organizations and problems detecting personnel with proficiency for projects are likely to restrain the growth of CRO services in Europe. Also, strict regulations for the approval of drugs may impede the market.

SEGMENTAL ANALYSIS

Europe CRO Services Market Analysis By Type

• Clinical Research Services                

• Phase I Clinical Research Services              

• Phase II Clinical Research Services             
• Phase III Clinical Research Services           
• Phase IV Clinical Research Services           
• Early-Phase Development Services                              
• Discovery Studies             
• Chemistry, Manufacturing, & Control (CMC)        
• Preclinical Services           
  • Pharmacokinetics/Pharmacodynamics (PK/PD)
  • Toxicology Testing Services
  • Other Preclinical Services
• Laboratory Services                             
• Bioanalytical Testing Services      
• Analytical Testing Services            
  • Physical Characterization
  • Raw Material Testing
  • Batch-Release Testing
  • Stability Testing
  • Other Analytical Testing Services
• Consulting Services                

Europe CRO Services Market Analysis By Therapeutic Area

• Oncology
• CNS
• Cardiovascular    

Europe CRO Services Market Analysis By End-User

• Pharmaceutical
• Biopharmaceutical
• Medical Device Companies

GEOGRAPHICAL ANALYSIS

• United Kingdom
• Spain
• Germany
• Italy
• France
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Rest of Europe

Regionally, Europe had the second-largest global market share in 2023 and is predicted to showcase a promising CAGR during the forecast period.

The high-quality pharmaceutical industry standards primarily drive the growth of the European CRO services market, rapid growth in the biosimilars and biologics market, the surge in demand for outsourcing services by pharmaceutical and biopharmaceutical companies, and the rise in the number of clinical trials in this region. In the development process, the researcher checks on a different combination of drugs and tests the drugs on different species, which requires a considerable investment that drives the market forward. Along with this, developing new diseases and viruses also requires clinical trials to develop drugs that increase the market growth in the European region.

The UK CRO services market held the largest share of the European market in 2023. The growing significance of R&D activities by the region’s superior pharmaceutical, biotechnology, and Medtech enterprises fuels this region's growth. Europe is dominating CRO equipment growth because of increased non-communicable diseases like diabetes, cardiovascular diseases, cancer, and chronic diseases. Europe region accounts for a rise in non-communicable diseases, with nearly 77% of the disease stress and anxiety, which immediately enlarges CROs' stipulation to stop the frequency of the diseases. In 2021, 20,256 clinical studies were done in the UK. Sofpromed, one of the most significant vital players, provides high-quality CRO services for biotechnology and pharmaceutical companies to conduct clinical studies in the UK. Increasing mortality rate due to chronic diseases, a large number of key players are focused on the development of drugs that help for increasing the quality of life of the patient.

The CRO services market in Germany held a considerable share of the European market in 2023 and is expected to showcase a healthy CAGR during the forecast period owing to the survival of top income-producing pharmaceutical companies investing a considerable amount in R & D to propel the country's market growth. Germany is in the top three positions in Europe in the development of clinical trials. Nearly 83 million people are living in Germany. To provide the best drugs and vaccines to the people, a clinical trial sponsor completes their enrolment. In Germany, the Federal Institute for Drugs and Medical Devices is the clinical research regulatory authority that helps to deal with the authorization of drugs of medical devices based on the German Medicines Act.

KEY MARKET PLAYERS

Companies playing a promising role in the Europe contract research organization (CRO) services market profiled in this report are Quintiles Transnational Holdings Inc., Laboratory Corporation of America Holdings, Pharmaceutical Product Development, PAREXEL International Corporation, ICON Plc, PRA Health Sciences Inc., InVentiv Health Inc., Charles River Laboratories International Inc., INC Research Holdings Inc., and Wuxi PharmaTech.