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.
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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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