The increasing R&D investments from pharmaceutical companies and extensive drug pipelines for the treatment of various chronic diseases, such as immunological disorders, metabolic disorders, and neurological disorders, are the predominant growth drivers for the global healthcare contract research organization (CRO) market. Additionally, the increasing outsourcing of pharmaceutical and biopharmaceutical R&D activities, high failure rate of drug clinical trials, and low cost of conducting clinical trials in emerging countries are also driving the growth of the market. The growing numbers of mergers and acquisitions is a key trend observed in the market. Among the various end-user segments of healthcare CRO, the pharmaceutical and biopharmaceutical companies accounted for the largest share in the global market.

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The stringent regulation for the approval of pharmaceutical and biopharmaceutical drugs is restraining the growth of the global healthcare CRO market. Moreover, the lack of skilled research professionals is also hindering the growth of the market, especially in the developing countries, such as India and China.

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Apart from these regions, Latin America is another important market. This is due to improving research infrastructure and growing demand of novel pharmaceutical and biopharmaceutical drugs in the region. Brazil holds the largest share in the Latin American market, due to the increasing R&D activities in the country.

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