The CRO services market supports pharmaceutical, biotechnology, and medical device firms by providing outsourced research and development services—ranging from early-stage discovery and preclinical work to clinical trial management, regulatory support, and post-market surveillance. Growth in this market is fueled by increasing complexity of drug development, rising costs, global trial demand, and a strategic shift toward outsourcing specialized work. As biopharma companies look to streamline operations and speed up development, CROs play a vital role in accelerating innovation and bringing new therapies to patients.
According to Fortune Business Insights, the global Contract Research Organization (CRO) services market was valued at USD 85.54 billion in 2024. The market 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. In 2024, North America dominated the CRO services market with a market share of 50.19%.
In February 2024, Ergomed Group expanded its U.S. footprint by opening a new office in Kendall Square, Cambridge, Massachusetts, enhancing early-phase clinical and pharmacovigilance services