The scientific
research and development services industry comprises establishments engaged in
research and experimental development on a contract, consultancy or outsourced
basis in the areas such as biotechnology, physical sciences, engineering
sciences, life sciences and social sciences.
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The global
scientific research and development services market is valued at $900 billion
in 2017 and the growth is predicted due to the aging population, technology
advances, rising non-communicable diseases and emphasis on innovation.
In
the report, the global scientific research and development services market is
divided into four segments, i.e. social sciences and humanities, physical and
engineering sciences, life sciences, biotechnology and others. Social sciences and
humanities was the largest segment in the
scientific research and development services market accounting for two-fifths
of the market share.
The
USA was the largest country in the scientific research and development services
market in 2017, accounting for nearly one-third of the market share. This was
mainly due to increase in demand for products related to health and medicine.
The scientific research and development services market is fragmented
with a number of large and small research organizations. The top five
competitors in the market made up around 2% of the total market in 2017. Battelle
Memorial Institute was the largest competitor, followed by IQVIA Holdings,
Inc., and Defense Advanced Research Projects Agency. Battelle Memorial
Institute was established in 1929 and is currently headquartered in Columbus,
Ohio. It currently has over 22,000 employees.
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