Latest Statistics on Scientific Research and Development Services Market

2022-12-01 09:57:45

By : JSB Market Research

In : BLOG

In 2021, the global scientific research and development services market reached $725.56 billion. However, it saw growth in 2022 to $817.06 billion. According to market research reports, the CAGR stood at 12.6%. And the expectation for growth in 2026 is $1154.1 billion at a CAGR of 9.0%. The market research concerning scientific research and development services provides information on regional shares, market segments, data, in-depth analysis of the present and future scenario of the involved industries, statistics on the services industry, market trends, competitors, opportunities, global market size, and market share.

The Extent of Scientific Research and Development Services

Scientific research and development service providers partake in procedures where the major input is human capital. The skills and knowledge of the employees are the keys to everything. The employees can be hired as a team, as individuals, or on an assignment basis. They are then absorbed into the delivery of services and developing technologies for manufacturers, consumers, or clients.

The relevant market involves the sales of services for scientific research and development, and related goods by sole traders, organizations, partnerships, and other entities, which take part in experimental and research development on outsourcing, consultancy, and contract basis, in the field of physical sciences, biotechnology, life sciences, social sciences, and engineering sciences.

Types of Scientific Research and Development Services

Some of the major types include physical, social sciences, and humanities services, life sciences, engineering, biotechnology services, and nanotechnology services. The fields exploring scientific research and development services as per the market research reports are energy, medicine, manufacturing, consumer goods, and materials. Nanotechnology is having a peak performance because of its ability to deliver almost atomic manipulation in creating new materials, technologies, and structures.

Segmentation of Market for Global Scientific Research and Development:

By end-user sizes such as small and medium enterprise and large enterprise
By types such as physical, biotechnology services, social sciences and humanities services, life sciences, engineering, and nanotechnology services.
By offline and online mode

The Prominent Regions with the Largest Market:

North America in 2021
Asia Pacific
Western Europe
Eastern Europe
South America
Middle East
Africa

The Growth of Scientific Research and Development Services

As per market research reports, the growth in scientific research and development services is because of chronic and lifestyle diseases, and these are increasing with time. Unhealthy lifestyle practices and the aging population are the lead factors in obesity and inactivity. As per the WHO, in 2020, the prevalence of chronic diseases stood at 57% across the world with India and China having 193.4 million in 2019, suffering from diabetes. By 2030, India may have around 101 million patients with diabetes.

Also, according to WHO, in the mental health field, one in every 4 persons will have some type of mental disorder such as schizophrenia, depression, or anxiety in the prediction for the future. Thus, governments globally have increased their efforts and expenses in medical research. For example, in 2020, medical research expenditure by China reached $1 trillion. Thus, growing medical research investments for chronic diseases and treatment is accelerating the demand for scientific research and developmental services.

4D Printing and 3D Printing Biotechnology

3D printing has been one of the latest technologies. In 3D printing, the drawback was that the print could only take the original shape in which it was made. It would remain inanimate and static. But with scientific research and development, the tech has evolved to 4D printing. It involves changing the mechanical properties and geometrical shapes, taking you to the world of the fourth dimension. However, with 4D printing, now objects transform to any external stimulation because of the use of responsive materials containing the relevant properties.

Major research companies in biotechnology in 4D printing are Precise Bio, Biolife4D, and Poietis. 4D printing today has several applications in the biomedical and medical science fields about tissue regeneration. For instance, a micro-tissue printed in 4D with bio-ink and having a cellular coating can go through maturation and become functional tissue constructs. And it imitates the engineered tissue constructs.

The Impact of COVID-19 on the Market

In 2020, the pandemic era restricted the scientific research and development services market. Because of the lockdowns imposed by governments around the world, trade was restricted. This resulted in reduced requirements for professional services. The effects of this were also seen in 2021. But it is expected that the market will soon recover from the event and find its way back into growth.

Countries Covered Under Market Research

The market research report for scientific research and development services covers the markets for the countries such as Belgium, Italy, Argentina, the UK, Sweden, the USA, Colombia, Demark, Finland, Turkey, South Africa, Brazil, Venezuela, Hong Kong, South Korea, UAE, Spain, France, India, Germany, Vietnam, Australia, Switzerland Indonesia, Saudi Arabia, South Korea, Thailand, Japan, Chile, Ireland, Mexico, Czech Republic, Israel, Malaysia, New Zealand, Austria, Netherlands, Peru, Poland, Nigeria, Canada, Norway, Portugal, China, Egypt, Philippines, Russia, Singapore, and Romania.

Leading Company Profiles

In the market research report, you will find the company profiles for:

Defense Advanced Research Projects Agency
WuXi AppTec Co., Ltd.
IQVIA Holdings Inc.
Lawrence Livermore National Laboratory LLC
Piramal Group
Battelle Memorial Institute
Frog Design, Lawrence Berkeley National Lab
Charles River Laboratories, Inc.
Jackson Laboratory