Healthcare Contract Research Organization Market to reach USD 93.23 billion by 2032 at CAGR of 7.10%
The Healthcare Contract Research Organization (CRO) market is undergoing significant transformation, underpinned by rising investments in pharmaceutical R&D, increasing regulatory complexity, and the adoption of advanced technologies in clinical trials. As of 2024, the global CRO market is benefiting from a heightened demand for outsourced clinical services. For instance, IQVIA, one of the market leaders, reported an 11% year-over-year growth in its clinical services division, reflecting the industry’s robust demand for outsourced research services. This growth is driven by pharmaceutical companies’ need for greater efficiency, speed, and regulatory compliance.