Preclinical CRO Market - By Service (Bioanalysis & DMPK Studies, Toxicology Testing), By End-use (Biopharmaceutical Companies, Government & Academic Institutes, Medical Device Companies), By Region & Global Forecast, 2023 – 2032
Published Date: August - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationPreclinical CRO Market - By Service (Bioanalysis & DMPK Studies, Toxicology Testing), By End-use (Biopharmaceutical Companies, Government & Academic Institutes, Medical Device Companies), By Region & Global Forecast, 2023 – 2032
Preclinical CRO Market Size
Preclinical CRO Market size accounted for over USD 5.3 billion in 2022 and is estimated to grow at 7.9% between 2023 and 2032. Technological advancements and rising demand for preclinical CROs are major factors driving the global market growth.
Preclinical CRO is a support center offering expertise in R&D that is necessary for navigating a drug candidate through animal testing and advancing it into the clinical phase. Preclinical research services involve several critical studies to assess drug efficacy and safety in animal models and complete Investigational New Drug (IND) filing studies. Preclinical CRO offer services such as bioanalysis & DMPK studies, toxicology testing and bioequivalence studies among others.
The preclinical CRO industry is primarily driven by increasing early research activities in drug discovery process coupled with rising outsourcing for preclinical CRO services. Conducting preclinical trials, Proof-Of-Concept (POC) and First-In-Human (FIH) as multicenter studies can offer substantial advantages for discovering exact target population and refining recruitment. Thus, preclinical CRO services are vital fragments of effective drug development that will accelerate the market growth in the coming years.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Preclinical CRO Market Size in 2022 | USD 5 Billion |
| Forecast Period | 2023 to 2032 |
| 2032 Value Projection | USD 11 Billion |
| Historical Data for | 2018 to 2032 |
| No. of Pages | 104 |
| Tables, Charts & Figures | 128 |
| Segments covered | Product, Technology, Application, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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Preclinical CRO Market Trends
The rise in chronic diseases is a major concern, and companies are racing to develop treatments and preventatives. For example, GeoVax has outsourced its work on vaccines for cancer and infectious diseases to meet the growing demand for such therapies. Their products are being tested in preclinical trials before they can be approved for human use. This outsourcing trend is creating a surge in demand for preclinical contract research organizations (CROs). CROs provide services like conducting laboratory tests and collecting data on the effectiveness and safety of new drugs. As more companies outsource their preclinical work, the market for CROs is expected to grow significantly over the next few years. Technology is also playing a role in this growth. New technologies are making it possible to automate many of the manual tasks involved in preclinical research, which is making CROs more efficient and affordable. This is making it even more attractive for companies to outsource their preclinical work to CROs. As a result of these factors, the preclinical CRO market is poised for strong growth in the coming years. The rising number of outsourcing activities and the adoption of new technologies are creating a favorable environment for CROs, and the industry is expected to continue to expand rapidly.
Stringent regulatory policies may impede the overall market demand
Stringent regulatory policies for preclinical CROs services may impede the overall industry growth. Various regulatory authorities such as U.S. FDA and European Medicines Agency (EMA) has set international standards including Good Laboratory Practice (GLP) regulations while conducting the preclinical testing. These GLP are based on premises that quality control must be built into preclinical testing in order to eliminate errors. Thus, regulations and standards will hamper the market growth. Furthermore, due to the regulatory policies, high-end tests including genotoxicity are performed in in-house departments of pharmaceutical firms, thereby hindering the market growth.
Preclinical CRO Market Analysis
Imagine you're about to embark on a thrilling journey of creating a new medicine that could revolutionize healthcare. Before you can test it on humans, you need to conduct thorough preclinical studies. That's where preclinical contract research organizations (CROs) come in. One of the most crucial services they offer is bioanalysis and DMPK studies. These studies help you understand how your new drug is absorbed, distributed, and broken down in the body. It's like having a secret map that guides you through the drug's journey. By 2032, this bioanalysis and DMPK studies market is expected to hit a whopping $4.9 billion. That's because it's essential for ensuring the safety and effectiveness of new drugs. But it's not just about testing. These studies also help you analyze the data and understand how your drug interacts with the body. That way, you can make adjustments and optimize its performance before it reaches human trials. It's like putting together a puzzle, where every piece of information—from toxicology tests to pharmacokinetic studies—contributes to a bigger picture. The goal? To create the safest and most effective drug possible. So, as you embark on this journey of developing a groundbreaking medicine, remember the importance of bioanalysis and DMPK studies. They're the guiding light that helps you navigate the complexities of drug development and bring your vision to reality.
Imagine a lot of companies and organizations that need help testing their new drug ideas before they actually start giving them to people. This market is like a big pie, and it's divided into different slices based on who's buying these testing services. The biggest slice of the pie belongs to biopharmaceutical companies, you know, the ones that make the actual drugs. They spent over $2.8 billion on testing services in 2022, and they're expected to keep spending even more in the coming years. Why are biopharmaceutical companies spending so much money on testing? Well, because there are so many more people getting sick these days, especially with diseases like cancer and heart disease. So, these companies are trying to come up with new drugs to treat all these illnesses. And to make sure their drugs are safe and effective, they need to test them out first. These biopharmaceutical companies also want to stay on top of the latest technology and keep their edge in the market. So, they're using different strategies to make sure they're always up-to-date, which means they'll need to test out even more new drugs, giving the preclinical CRO market a big boost.
North America preclinical CRO market accounted for considerable revenue in 2022 and is poised to exceed USD 4.7 billion by 2032. Presence of large number of market players in the region will boost the North America market outlook. Furthermore, increasing focus of pharmaceutical companies on novel drug development for treatment of various chronic disease is anticipated to boost North America preclinical CRO industry over the forecast period.
Preclinical CRO Market Share
Prominent market players operating in the preclinical CRO industry include
- Charles River Laboratories
- Laboratory Corporation of America Holdings
- CON plc
- Pharmaceutical Product Development
These industry players majorly concentrate on various strategies including collaborations, acquisitions, mergers and partnerships to create a global footprint and sustain market competition.
Impact of COVID-19 Pandemic
COVID-19 has been a tough blow to the healthcare industry. Big names in the drug and medical device game have hit the pause button on new clinical trials, and companies of all sizes have had to put their ongoing studies on hold. It's a clear sign of how much the pandemic has shaken things up. Not only that, but the virus has also forced many companies to rethink how they're spending money on research and development. With clinical trials on pause, there's less need for outsourcing preclinical research services, which is hurting revenue for those companies. But there's a glimmer of hopenew approaches to clinical trials are starting to pop up. Companies are using virtual tools and working with regulators to find new ways to conduct studies even during a pandemic. And that could lead to a quick recovery for the industry once this is all over.
The preclinical CRO market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 - 2032, for the following segments
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By Service
- Bioanalysis & DMPK studies
- Toxicology testing
- Others
By End-use
- Biopharmaceutical companies
- Government & academic institute
- Medical device companies
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- Australia
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
- Saudi Arabia
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