Colombia Healthcare Contract Research Organization Market Size & Outlook

The healthcare contract research organization market in Colombia is expected to reach a projected revenue of US$ 706.1 million by 2030. A compound annual growth rate of 5.4% is expected of Colombia healthcare contract research organization market from 2024 to 2030.
Revenue, 2023 (US$M)
$490.3
Forecast, 2030 (US$M)
$706.1
CAGR, 2024 - 2030
5.4%
Report Coverage
Colombia

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Colombia healthcare contract research organization market, 2018-2030 (US$M)

Colombia healthcare contract research organization market, 2018-2030 (US$M)

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Related Markets

Colombia healthcare contract research organization market highlights

  • The Colombia healthcare contract research organization market generated a revenue of USD 555.4 million in 2023 and is expected to reach USD 808.1 million by 2030.
  • The Colombia market is expected to grow at a CAGR of 5.5% from 2024 to 2030.
  • In terms of segment, clinical was the largest revenue generating type in 2023.
  • Pre-Clinical is the most lucrative type segment registering the fastest growth during the forecast period.


Healthcare contract research organization market data book summary

Market revenue in 2023USD 555.4 million
Market revenue in 2030USD 808.1 million
Growth rate5.5% (CAGR from 2023 to 2030)
Largest segmentClinical
Fastest growing segmentPre-Clinical
Historical data2018 - 2022
Base year2023
Forecast period2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationDrug Discovery, Pre-Clinical, Clinical
Key market players worldwideIcon PLC, Charles River Laboratories International Inc, IQVIA Holdings Inc, GVK Biosciences, Labcorp Holdings Inc, Thermo Fisher Scientific Inc, PAREXEL, Dassault Systemes SE, Pharmaron Beijing Co Ltd Ordinary Shares - Class H, SGS AG, Worldwide Clinical Trials, Wuxi AppTec Co Ltd, Caidya


Other key industry trends

  • In terms of revenue, Colombia accounted for 1.1% of the global healthcare contract research organization market in 2023.
  • Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
  • In Latin America, Brazil healthcare contract research organization market is projected to lead the regional market in terms of revenue in 2030.
  • Brazil is the fastest growing regional market in Latin America and is projected to reach USD 1,739.0 million by 2030.

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Healthcare Contract Research Organization Market Companies

Name Profile # Employees HQ Website
GVK Biosciences View profile 1001-5000 Hyderabad, Andhra Pradesh, India, Asia http://www.gvkbio.com/
Caidya View profile 1001-5000 Morrisville, North Carolina, United States, North America https://www.caidya.com
Pharmaron Beijing Co Ltd Ordinary Shares - Class H View profile 20295 No. 248 Queen’s Road East, 40th Floor, Dah Sing Financial Centre, Wanchai, Hong Kong, Hong Kong https://www.pharmaron.com
Worldwide Clinical Trials View profile 1001-5000 Morrisville, North Carolina, United States, North America https://www.worldwide.com
Dassault Systemes SE View profile 23811 10, Rue Marcel Dassault, Velizy-Villacoublay, France, 78140 https://www.3ds.com
PAREXEL View profile 10001+ Waltham, Massachusetts, United States, North America http://www.parexel.com
SGS AG View profile 103193 1 Place des Alpes, P.O. Box 2152, Geneva, Switzerland, CH-1211 https://www.sgs.com
IQVIA Holdings Inc View profile 87000 2400 Ellis Road, Durham, NC, United States, 27703 https://www.iqvia.com
Wuxi AppTec Co Ltd View profile 41116 288 Fute Zhong Road, Waigaoqiao Free Trade Zone, Shanghai, China, People's Republic of, 200131 https://www.wuxiapptec.com
Icon PLC View profile 41150 South County Business Park, Leopardstown, Dublin, Ireland, D18 X5R3 https://www.iconplc.com
Labcorp Holdings Inc View profile 67000 358 South Main Street, Burlington, NC, United States, 27215 https://www.labcorp.com
Charles River Laboratories International Inc View profile 21400 251 Ballardvale Street, Wilmington, MA, United States, 01887 https://www.criver.com
Thermo Fisher Scientific Inc View profile 122000 168 Third Avenue, Waltham, MA, United States, 02451 https://www.thermofisher.com

Colombia healthcare contract research organization market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to healthcare contract research organization market will help companies and investors design strategic landscapes.


Clinical was the largest segment with a revenue share of 75.86% in 2023. Horizon Databook has segmented the Colombia healthcare contract research organization market based on drug discovery, pre-clinical, clinical covering the revenue growth of each sub-segment from 2018 to 2030.


The government of Colombia is undertaking various initiatives to make Colombia more attractive for clinical research. The country’s National Institute of Food and Drug Monitoring (INVIMA), in April 2016, announced the reduction of time for evaluation of study protocol and approval process.

The timelines for clinical research associated with investigational drugs have been reduced to 60 days from an average 135 days. Furthermore, as per INVIMA, conducting research in Colombia is cost-effective, which results in more than 30% savings as compared to the U.S. and Europe.

The availability of a large patient pool, nearly 600 million people, also serve as a driving factor to conduct clinical trials in this country. Hence, creating demand for healthcare contract research organizations.

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Target buyers of Colombia healthcare contract research organization market databook

  • Our clientele includes a mix of healthcare contract research organization market companies, investment firms, advisory firms & academic institutions.
  • 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Horizon Databook provides a detailed overview of country-level data and insights on the Colombia healthcare contract research organization market , including forecasts for subscribers. This country databook contains high-level insights into Colombia healthcare contract research organization market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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Colombia healthcare contract research organization market size, by type, 2018-2030 (US$M)

Colombia Healthcare Contract Research Organization Market Outlook Share, 2023 & 2030 (US$M)

Colombia healthcare contract research organization market size, by type, 2018-2030 (US$M)

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