Competitive Landscape of Top 50 Contract Research Organizations (CROs)Report

Competitive Landscape of Top 50 Contract Research Organizations (CROs)

  • Published Date: Apr, 2023
  • Report ID: GVR-MT-100114
  • Format: Electronic (PDF)
  • Number of Pages: 150

Increasing number of CROs Globally

Our healthcare portfolio has been developing since our inception in 2014, wherein we have tracked numerous sub-domains and their R&D activities. We have actively been tracking the CROs space and have seen the evolution of these players from just a handful to now over 100 companies. To help understand and highlight their development journey, we have made this special study that focuses on the Top 50 Clinical/Contract Research Organizations (CROs) in the healthcare industry.

Top 50 CROs' Competitive Landscape Report Coverage

Top 50 CROs Analyzed For

Overview/Historic Development of Company

Key Service Catalog

Talent Pool Strength & Composition

Stages of R&D Covered/Research Expertise

Industry Recognitions/Certifications

Financial Reporting


The CROs are the major contributors within the healthcare outsourcing industry closely followed by healthcare IT and CDMOs. The medical device and drug industry contributes for about USD 1.5 trillion in business, thus making it a lucrative running business for decades and promoting R&D activities to contribute to higher revenues. Along with the aforementioned reason, the industry life cycle graph is at a point where patents are expiring and the level of competition is expected to rise, thereby cutting down profit margins substantially. To curb this, players are rigorously conducting R&D activities or acquiring small-scale innovative players/outsourcing partners. For instance, Laboratory Corporation of America Holdings has acquired about 12 companies in the past 5 years, including Covance. Such details about each CRO’s strategic road map, mergers, and collaboration will be provided in the study. 

This study shall be focusing primarily on the former i.e. growth in R&D activities through contract clinical research organizations. This study shall provide you with the landscape of the top 50 CROs across the globe in terms of revenue. It shall also elucidate on the key service offered by each of the listed CROs, and their expertise in any particular therapeutic area. According to the U.S. National Library of Medicine, there are about 83,230 clinical trial studies currently active and/or recruiting across the globe. Furthermore, there also exists a huge demand for highly skilled professionals to work within this space. Thus, a further deep dive into each CROs workforce is a crucial parameter. The study shall provide insights into the number of employees, their skills/designation distribution, and attrition rate (at CXO levels).

ICON plc - Organization Structure and Team Composition

Organization Structure & Team Composition of ICON Plc 

Team Composition

% Share

Research Associates


Clinical Trial Associates


Information Technology Specialists


Program & Project Management





SWOT Analysis of CROs

Criterium, Inc.



  • Criterium, Inc. offers specialty Centralized Network Model (CNM) services to various clients globally, which increases the chances of potential product development.
  • Criterium, Inc. offers a full range of services for pharmaceutical, biopharmaceutical, and CRO industries such as regulatory management, clinical research services, and others.
  • Increasing competition for CRO services may adversely affect the growth of the regulatory affairs market.
  • Limited workforce may adversely affect the company in taking up new projects. Hence, talent acquisition must be the prime focus.



  • Growing demand for clinical trials and the rise of ATMPs are expected to support the clinical trial industry with new opportunities.
  • Criterium’s innovative technologies, combined with the outstanding work ethic of its distinguished staff members in all its locations, provide unprecedented opportunities to exceed clients’ expectations.
  • Changes in the exchange rate may affect Criterium’s market growth as most of its clients are international while its suppliers are local.
  • Increasing competition within regulatory affairs industries can reduce revenue for Criterium, Inc.


Other aspects that shall be analyzed will include the companies overview, historical timeline/experience, contact details, global foothold with breakdown to the regional level, service benchmarking, patient recruitment platforms/partners, service pricing (wherever feasible), special awards/recognition by industry, future projections/growth plans, stakeholder/owner database, key competitors, financial performance and SWOT analysis. 

An in-depth analysis of the financial performance shall be provided for publicly listed companies and shall include pointers such as:

  • Key Financials

    • Net profit

    • Working Capital


    • Net income

    • Total Revenue

  • Income & cash flow

    • Cash for operating activities

    • Cash for investing activities

    • Income tax paid

  • Financial Ratio’s

    • Asset Turnover

    • Debt/Equity Ratio

    • Current Rahio

    • ROE (%)

    • ROA (%)

  • Stock Exchange Performance

    • Earnings/share

    • Quick ratio

    • Price to earnings ratio

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