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Clinical Trial Services Companies

IQVIA Inc. (US) and ICON Plc (Ireland) are Leading Players in the Clinical Trial Services Market

The clinical trial services market is expected to reach USD 101.86 billion in 2030 from USD 66.59 billion in 2025 at a CAGR of 8.9% during the forecast period. The clinical trial services market is growing due to the increasing outsourcing of clinical studies to Contract Research Organizations (CROs), driven by the flexibility of service models such as Functional Service providers (FSP) and hybrid service delivery. These models allow pharmaceutical, biotechnology, and medical device companies to optimize resources while maintaining operational control. The industry is also shifting toward patient-centric clinical trials, utilizing decentralized trial models, wearable health devices, and digital platforms to improve patient engagement and retention. Technological advancements, including artificial intelligence (AI) and real-world data (RWD), are enhancing trial efficiency, site selection, and patient recruitment strategies. The rising demand for personalized and precision medicine has led to an increasing number of trials focused on targeted therapies, requiring CROs to support complex study designs and biomarker-driven research. Additionally, there is a growing emphasis on pediatric clinical trials due to regulatory requirements, requiring CROs to develop specialized capabilities in this area. The FDA’s guidelines on increasing diversity in clinical trials are also creating opportunities for CROs to expand patient recruitment strategies and ensure broader representation. Furthermore, the increasing number of drug modalities in the clinical pipeline, including cell and gene therapies, biologics, and RNA-based treatments, is driving demand for specialized clinical trial services.

The clinical trial services market is competitive. Key market players include IQVIA Inc. (US), Thermo Fisher Scientific Inc. (US), Fortrea (US), ICON Plc (Ireland), Syneos Health (US), Laboratory Corporation of America Holdings (US), Medpace (US), Wuxi Apptec (China), Frontage Labs (US), Pharmaron (US), Tigermed (China), SGS Société Générale De Surveillance SA. (Switzerland), Eurofins Scientific (Luxembourg), Linical (Japan), Parexel International Corporation (US), Worldwide Clinical Trials (US), Novotech (Australia), PSI (Switzerland), Allucent (US), Premier Research (US), Clario (US), KCR S.A. (US) and Rho, Inc. (US), among others. These companies have adopted various strategies such as the development and launch of advanced clinical trial services, partnerships, contracts, expansions, and acquisitions to strengthen their position in the clinical trial services market. The organic and inorganic strategies have helped the market players expand globally by offering clinical trial services. However, the high monetary investments and complications related to clinical trial regulatory guidelines act as a barrier for new entrants in the market.

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IQVIA Inc. (US) is one of the key players in the clinical trial service market offering various clinical research services to major pharmaceutical and medical device companies. The company utilizes advanced technology, data analytics, and artificial intelligence (AI) to improve patient recruitment, site selection, and trial monitoring, reducing costs and timelines. IQVIA also supports decentralized clinical trials (DCTs) with digital platforms and remote monitoring, making trials more accessible and patient-friendly. Its flexible service models, including Functional Service Provider (FSP) and hybrid approaches, allow companies to customize their outsourcing needs. With expertise in precision medicine and complex trial designs, IQVIA manages studies for advanced drug modalities like cell and gene therapies. The company has launched One Home for Sites, a technology platform that streamlines clinical trial management by integrating multiple applications into a single dashboard, improving site efficiency. Additionally, IQVIA has partnered with NVIDIA to develop AI-driven solutions that enhance automation and precision in clinical research. The company also has a strong global presence and operates in more than 100 countries across North America, Europe, Asia, Latin America, and Africa.

Icon Plc (Ireland) is a leading CRO offering clinical trial services such as clinical trial management, consulting, contract staffing, data solutions, and laboratory services spanning the entire lifecycle of product development. The company supports clinical research activities for pharmaceutical and medical device companies offering flexible outsourcing solutions, and providing clients with scalable resources and expertise across various functions, including clinical monitoring and data management. In January 2025, the company expanded its portfolio of artificial intelligence (AI) tools to improve study startup, document management, resource forecasting, and operational metrics. Its AI Centre of Excellence has developed tools such as iSubmit for document automation, Mapi Research Trust COA for real-time Clinical Outcome Assessment updates, FORWARD+ for resource management, and Study Start-up Site Contracts for contract drafting. Additionally, in 2023, ICON partnered with LEO Pharma to strengthen clinical trial execution in medical dermatology by combining full outsourced and functional service provider (FSP) models, optimizing trial scalability and efficiency while improving patient access to innovative treatments. The company operates in 106 locations across 53 countries worldwide.

Thermo Fisher Scientific Inc. (US) became a leading player in the clinical trial services market following its USD 17.4 billion acquisition of PPD in December 2021. The company operates through four business segments: laboratory products and biopharma services, life sciences solutions, specialty diagnostics, and analytical instruments, and offers clinical trial services through its clinical research business unit under its laboratory products and biopharma services operating segment. The company utilizes advanced analytics, real-world data (RWD), and decentralized clinical trial (DCT) capabilities to optimize study execution and improve patient access. PPD has strengthened its position through strategic collaborations, such as its partnership with the National Institute of Allergy and Infectious Diseases (NIAID) to support HIV clinical research, focusing on clinical site monitoring and drug resistance studies. Additionally, in 2024, PPD expanded its collaboration with Medidata to enhance trial efficiency through AI-driven solutions like PPD TrueCast, which improves study timelines using predictive modeling.

Syneos Health (US) is a fully integrated biopharmaceutical solution provider focusing on Phase I to IV clinical development services for the biopharmaceutical and medical device industries. Its services include a fully integrated biopharmaceutical solution provider focusing on Phase I to IV clinical development services for the biopharmaceutical and medical device industries. The company has expanded its global clinical trial capabilities through strategic collaborations. For instance, in January 2025, the company partnered with ACTIVATO to strengthen trial operations in Japan by improving patient access, streamlining site selection, and accelerating trial processes through centralized IRB and ICF strategies. Similarly, the company collaborated with the Pacific Clinical Research Network (PCRN) in New Zealand to enhance trial efficiency and participant safety across PCRN’s nine sites. These partnerships align with the company’s strategy to optimize clinical development worldwide while ensuring high-quality research and efficient trial execution.

Fortrea (US) is a key player in the clinical trial service market offering services such as clinical development, patient access solutions, and consulting to pharmaceutical, biotechnology organizations, and medical device companies. The company’s service portfolio includes comprehensive Phase I through IV clinical trial management, clinical pharmacology, differentiated technology-enabled trial solutions, and post-approval services. The maintain its position in the market the company launched its AI Innovation Studio, an AI-driven platform aimed at optimizing clinical trial executions. Moreover, the company also focuses on inorganic growth strategies such as collaboration to support its growth, for instance, in January 2024, the company partnered with Veeva Systems and Advarra to enhance the clinical trial experience by streamlining clinical trial operations through the integration of Veeva's cloud-based applications and Advarra’s Longboat solution into a unified platform.

Market Ranking, 2024

The global clinical trial services market is competitive with the presence of several local, regional, and global players. There are various small and medium-sized players operating in both developed and emerging markets. The market also features small players operating at the local and regional levels. The global clinical trial services market is primarily dominated by IQVIA Inc. (US). This player accounted for the major share of the market in 2024.

The leading market players are based across the US and Europe. Dominant market players have numerous advantages, such as a strong geographic presence, a comprehensive service portfolio, and strategic mergers, acquisitions, and collaborations. The market also has a presence of numerous small players operating at the regional as well as global levels.

Related Reports:

Clinical Trial Services Market by Type (Laboratory, Monitoring, Recruitment, PV, Data Management), Phase (I, II, III), Therapy (Oncology, Neurology, Dermatology, CVD), Modality (Biologics, Devices), Delivery Model (FSP, Hybrid) - Global Forecast to 2030

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Clinical Trial Services Market Size,  Share & Growth Report
Report Code
PH 1622
RI Published ON
3/11/2025
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