The CRO services market delivers outsourced support for the pharmaceutical, biotech, and medical device industries across all stages of research and development—from preclinical testing and clinical trials to regulatory management, data analysis, and post-market surveillance. This sector is expanding rapidly as companies—especially smaller and mid-sized ones—outsource R&D tasks to access specialized expertise, reduce costs, and scale efficiently. Major growth drivers include increased global R&D investment, rising demand for complex clinical trials (e.g., in oncology and rare diseases), and the adoption of decentralized trial models and digital tools. North America leads the market with its strong healthcare infrastructure and trial activity, while the Asia-Pacific region is the fastest-growing, supported by lower operational costs, growing patient access, and enhancing research capabilities.
According to Fortune Business Insights, the global contract research organization (CRO) services market size was valued at USD 85.54 billion in 2024 and is projected to grow from USD 92.27 billion in 2025 to USD 175.53 billion by 2032, exhibiting a CAGR of 9.6% during the forecast period. North America dominated the CRO services market with a market share of 50.19% in 2024.
A notable development in the industry occurred in February 2024, when Ergomed Group expanded its U.S. operations by opening a new office in Kendall Square, Cambridge, Massachusetts—a strategic move to strengthen its North America footprint.
The CRO services market is propelled by a combination of structural and demand-side dynamics.