Global Ophthalmology Contract Research Organization (CRO) Market Insights Forecasts to 2033

• The Global Ophthalmology Contract Research Organization (CRO) Market Size was Valued at USD 2.36 Billion in 2023
• The Market Size is Growing at a CAGR of 6.95% from 2023 to 2033
• The Worldwide Ophthalmology Contract Research Organization (CRO) Market Size is Expected to Reach USD 4.62 Billion by 2033
• Europe is Expected to Grow the fastest during the forecast period.

The Global Ophthalmology Contract Research Organization (CRO) Market Size is Anticipated to Exceed USD 4.62 Billion by 2033, Growing at a CAGR of 6.95% from 2023 to 2033.

Market Overview

Ophthalmology contract research organization (CRO) provides technical knowledge, ensuring the design and conducting of trials for ophthalmic research and development of novel therapeutics and medical devices. Ocular safety monitoring, patient population selection, and site coordination enhancing trial efficiency are carried out. This accelerates the development and approval of new drugs and devices for eye care. Ophthalmology CROs conduct quality clinical research programs through innovative processes and technology. These services are provided to life science companies including biotechnology, pharmaceutical, and medical devices companies at reduced costs and timelines at which novel therapeutics, and advanced medical devices are brought to market. The collaboration of CROs with pharmaceutical companies is the strategic advantage for successful and impactful ophthalmic clinical trials. The ever-increasing number of clinical trials and outsourcing services have been significantly benefiting from partnering with CROs.

Report Coverage

This research report categorizes the market for the global ophthalmology contract research organization (CRO) market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global ophthalmology contract research organization (CRO) market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global ophthalmology contract research organization (CRO) market.

Driving Factors

The increased burden of eye diseases leads to rising demand for novel and innovative ophthalmic therapeutics resulting in driving the market. The growing investment in research and development (R&D) by governments and industry for the development of novel therapeutics and advanced medical devices is anticipated to drive market growth. The increasing aging of the population is also responsible for driving the incidence of eye diseases which is likely to drive the market demand. The emergence of new and mid-sized pharmaceutical and biotech companies that have limited resources for conducting R&D is fueling the market demand for ophthalmic CROs. Furthermore, the increasing emphasis on innovative partnerships with the CROs and encouraging multi-sector collaborations are driving the market growth.  

Restraining Factors

The ever-changing and complex regulatory requirements are challenging for CROs to adapt. Compliance with these regulatory requirements is increasing the costs of the ophthalmology drugs outsourcing process resulting in restraining the global ophthalmology contract research organization (CRO) market.

Market Segmentation

The global ophthalmology contract research organization (CRO) market share is classified into service type, therapy, and end-use.

• The clinical research segment dominates the global ophthalmology contract research organization (CRO) market with the largest revenue share in 2023.

Based on the service type, the global ophthalmology contract research organization (CRO) market is categorized into early phase development services, clinical research, laboratory services, and regulatory consulting services. Among these, the clinical research segment dominates the global ophthalmology contract research organization (CRO) market with the largest revenue share in 2023. Advanced ocular imaging technologies and diagnostic tools provide accurate and precise results of eye diagnosis during clinical research. The increasing accessibility of specialized expertise for conducting clinical trials for obtaining high-quality therapeutics is driving the market growth.

• The anti-inflammatory segment dominates the market with the largest revenue share in 2023.

Based on the therapy, the global ophthalmology contract research organization (CRO) market is categorized into traditional interventions, anti-inflammatory interventions, corticosteroids, NSAIDs, Immunomodulators, other anti-inflammatory interventions, anti-oxidative interventions, other traditional interventions, and advanced interventions. Among these, the anti-inflammatory interventions segment dominates the market with the largest revenue share in 2023. Ophthalmic anti-inflammatory are used to treat inflammatory eye conditions such as allergic conjunctivitis, non-infectious uveitis, and eye inflammation after surgery. The growing awareness of ocular inflammatory disorders and the development of new ophthalmic anti-inflammatory drugs are driving the market growth.

• The pharmaceutical & biopharmaceutical companies accounted for the largest market share in 2023.

Based on the end-use, the global ophthalmology contract research organization (CRO) market is categorized into pharmaceutical & biopharmaceutical companies, medical device companies, and academic institutes. Among these, the pharmaceutical & biopharmaceutical companies accounted for the largest market share in 2023. There is an increasing need for outsourcing for the research and development of ophthalmic drugs. The advanced imaging and diagnostic technologies and state-of-the-art facilities in the ophthalmology CRO facilitate the research activities. The growing investments by the pharmaceutical and biopharmaceutical companies for ophthalmic drug development are propelling the market growth.

Regional Segment Analysis of the Global Ophthalmology Contract Research Organization (CRO) Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global ophthalmology contract research organization (CRO) market over the predicted timeframe.

North America is projected to hold the largest share of the global ophthalmology contract research organization (CRO) market over the forecast period. The increasing R&D investments for the development of novel ophthalmology therapies are significantly driving the market growth in the region. Further, the increased number of conducting clinical trials is responsible for driving the market. Furthermore, the availability of a highly skilled workforce as well as favorable regulatory scenarios are driving the regional market.  

Europe is expected to grow at the fastest CAGR growth of the global ophthalmology contract research organization (CRO) market during the forecast period. The growing need for advanced research and development efforts from CRO is driving the market demand. Further, the increasing aging population and increasing eye-related ailments are responsible for driving the market. In addition, commitment to cutting-edge ophthalmic treatments is fueling the market demand.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global ophthalmology contract research organization (CRO) market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Medpace, Inc.
• ORA Inc.
• Charles River Laboratories International, Inc.
• Syneos Health
• WuXi AppTec ICON plc
• Iris Pharma
• Trial Runners
• The Emmes Company LLC
• Lexitas Pharma Services, Inc.
• TFS HeathScience
• ProTrial Research, Inc.
• Laboratory Corporation of America Holdings (Covance Inc.)
• Pharmaceutical Products Development (Thermo Fisher Scientific, Inc.)
• Worldwide Clinical Trials
• CTRG (Clinical Trial Resource Group)
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In May 2024, Ora, Inc., the foremost global ophthalmology contract research organization (CRO), announced a strategic, exclusive partnership with the Singapore Eye Research Institute (SERI), a world-renowned institution for cutting-edge eye research and ophthalmic preclinical studies. This partnership aimed at providing early-stage innovators around the world with comprehensive research support, set to revolutionize the development of new ophthalmic therapies.

• In January 2024, iuvo BioScience, a specialty PRO (Partner Research Organization) providing preclinical and clinical development services, lab services, and scientific consulting, acquired Promedica International, a California Corp. (PMI), a specialty ophthalmology-focused clinical CRO. The combined organization would support all aspects of ophthalmic clinical research, leveraging an even larger team of experts in ophthalmology.

• In July 2023, Ora, Inc., the world’s leading Clinical Research Organization (CRO) for ophthalmology pharmaceutical and device development, announced its partnership with the North West London Clinical Trials Alliance (NWL Clinical Trials Alliance), a collaboration between clinical trial teams that aims to improve access to and the quality of clinical research in the region.

• In January 2023, TFS HealthScience, a global contract research organization, announced a strategic acquisition of Appletree CI Group to enhance the company's existing expertise in the complex fields of ophthalmology, dermatology, medical devices, and pediatric studies, simultaneously expanding geographic reach for clients.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global ophthalmology contract research organization (CRO) market based on the below-mentioned segments:     

Global Ophthalmology Contract Research Organization (CRO) Market, By Service Type

• Early Phase Development Services
• Clinical Research
• Laboratory Services
• Regulatory Consulting Services

Global Ophthalmology Contract Research Organization (CRO) Market, By Therapy

• Traditional Interventions
• Anti-Inflammatory Interventions
• Corticosteroids
• NSAIDs
• Immunomodulators
• Other Anti-Inflammatory Interventions
• Anti-Oxidative Interventions
• Other Traditional Interventions
• Advanced Interventions

Global Ophthalmology Contract Research Organization (CRO) Market, By End-Use

• Pharmaceutical & Biopharmaceutical Companies
• Medical Device Companies
• Academic Institutes

Global Ophthalmology Contract Research Organization (CRO) Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa