Preclinical CRO Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Service (Bioanalysis and DMPK studies, Toxicology Testing, Compound Management, Chemistry, Safety Pharmacology, Others), By Model Type (Patient Derived Organoid (PDO) Model, Patient derived xenograft model), By End-Use Industry (Biopharmaceutical Companies, Government and Academic Institutes, Medi
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationPreclinical CRO Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Service (Bioanalysis and DMPK studies, Toxicology Testing, Compound Management, Chemistry, Safety Pharmacology, Others), By Model Type (Patient Derived Organoid (PDO) Model, Patient derived xenograft model), By End-Use Industry (Biopharmaceutical Companies, Government and Academic Institutes, Medi
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 5.89 billion |
| CAGR (2023-2028) | 8.53% |
| Fastest Growing Segment | Patient Derived Organoid (PDO) Model |
| Largest Market | North America |
Market Overview
Global Preclinical CRO Market has valued at USD 5.89 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 8.53% through 2028. Preclinical CRO are colored substances that are applied in the form of an aqueous solution on various substrates. They serve as colorants in various industrial applications such as food processing, printing inks, wood stain, textile processing, and others. Preclinical CRO exhibit high selective absorptivity for liquids and substrates, making them superior to other color-imparting materials like pigments. Their exceptional absorption characteristics facilitate the modification of their physical and structural properties when applied on substrates. However, Preclinical CRO have low resistance to light and a relatively shorter shelf life. As a result, they are primarily used in surface coating, food, and printing applications that demand high levels of transparency in the manufacturing of finished products. Preclinical CRO can be categorized based on their solubility in a specific medium or substrate, including basic Preclinical CRO, fat-soluble Preclinical CRO, and metal complex Preclinical CRO.
Key Market Drivers
Increasing Outsourcing Trends Drives the Market Growth
The increasing outsourcing trend is a significant driver behind the growth of the Global Preclinical Contract Research Organization (CRO) market. This trend involves pharmaceutical and biotechnology companies opting to delegate their preclinical research and development activities to specialized CROs rather than conducting them in-house.
Rising Number of Drugs In Preclinical Phases
The rising number of drugs in preclinical phases contributes to the growth of the Global Preclinical Contract Research Organization (CRO) market in several ways. As pharmaceutical and biotechnology companies continue to develop a larger pipeline of potential drug candidates, the demand for preclinical research and testing services provided by CROs increases.
Rising R&D Costs Drives the Market Growth
The rising costs of research and development (R&D) in the pharmaceutical and biotechnology industries are a significant driver behind the growth of the Global Preclinical Contract Research Organization (CRO) market. As R&D costs continue to escalate, companies are increasingly turning to preclinical CROs to optimize their drug development processes, improve cost-effectiveness, and enhance overall efficiency.
Key Market Challenges
Regulatory Compliance and Quality Assurance
Regulatory compliance and quality assurance pose significant challenges to the Global Contract Research Organization (CRO) market, particularly in the context of preclinical research.
Data Interpretation and Reporting
Data interpretation and reporting present significant challenges to the Global Contract Research Organization (CRO) market, particularly in the context of preclinical research. Accurate and meaningful data interpretation and reporting are essential for informed decision-making in drug development.
Communication and Collaboration
Communication and collaboration challenges can impact the Global Contract Research Organization (CRO) market, particularly in the context of preclinical research. Effective communication and collaboration between CROs and their clients are essential for successful project outcomes.
Key Market Trends
Increase in the number of Virtual Trials
The increase in the number of virtual trials is a significant trend in the Global Contract Research Organization (CRO) market, transforming how clinical research is conducted. Virtual trials, also known as decentralized clinical trials, leverage technology to remotely collect data from participants, reducing the need for physical site visits.
Segmental Insights
Service
In 2022, the Preclinical CRO market was dominated by the Toxicology testing and is predicted to continue expanding over the coming years. Toxicology testing is a crucial and dominant segment within the Global Contract Research Organization (CRO) market, especially in the preclinical stage of drug development. Toxicology testing assesses the potential adverse effects of new compounds on living organisms, helping to determine their safety profiles before progressing to clinical trials.
Model Type Insight
In 2022, the Preclinical CRO market was dominated by PDO segment and is predicted to continue expanding over the coming years.
End-Use Industry Insights
In 2022, the Preclinical CRO market was dominated by biopharmaceutical companies’ segment and is predicted to continue expanding over the coming years. Biopharmaceutical companies often prioritize their core competencies, such as research, innovation, and commercialization. Outsourcing certain functions, including preclinical and clinical research, to CROs allows these companies to concentrate their internal resources on critical areas.
Regional Insights
The Asia Pacific region has established itself as the leader in the Global Preclinical CRO Market. established CROs focused on early drug discovery, like Charles River Laboratories or LabCorp. U.S. Preclinical Trial Outsourcing the U.S. preclinical trial outsourcing market is the largest because many biopharma companies prefer to outsource their preclinical trial to a CRO based in the United States in order to take advantage of the FDA-approved Investigational New Drug application.
Recent Developments
- In February 2021, ICONAcquires PRA Health Sciences to Create a Global Leader in HealthcareIntelligence & Clinical Research. Theconsolidation combines two organizations that have a long-standing track recordof strong growth and performance and are well-positioned to capitalize on thisstrength by leveraging the exceptional talent of both organizations to creategreater value for patients, clients, staff and shareholders. The combination will meet the increasing demand for decentralised andhybrid trial services from a unique mix of mobile and connected healthcareplatforms, a global network of sites, home health services, and wearablesknowledge.
- In November 2022, AppTec, aleading global provider of research, development and manufacturing services tothe pharmaceutical, biotechnology and medical device industries for theadvancement of discoveries and the delivery of innovative treatments topatients, today announced that it has been named a recipient of Frost &Sullivan’s 2022 Global Contract Research and Development and ManufacturingCompany of the Year Awards. Frost & Sullivan is a global research andconsulting firm that works with customers to help them drive growth. This isthe 6th consecutive year that AppTec has received the award for leadership andinnovative services.
- In March 2023, Apollo™ is acloud-based, industry-leading platform for drug developers to save time andimprove the client experience. Today, Charles River Laboratories International,LLC (CRL) announced the launch of Apollo™, the industry’s first cloud-based,secure platform for drug development. Apollo’s suite of features includesAccess to study data Study milestones Documentation Cost estimates Programplanning tools Current capabilities includeSafety assessment Toxicologystudies.
Key Market Players
- EurofinsScientific SE
- PRA HealthSciences, Inc.
- Wuxi AppTec
- Medpace,Inc.
- CharlesRiver Laboratories International, Inc.
- PPD (ThermoFisher Scientific, Inc.)
- SGA SA
- IntertekGroup Plc (IGP)
- LABCORP Inc
- CrownBioscience Inc
| By Service | By Model Type | By End User | By Region |
|
|
|
|
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy