IMARC Group, a leading market research company, has recently releases report titled “Preclinical CRO Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global preclinical CRO market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Preclinical CRO Market?
|Market Size in 2022||US$ 5.6 Billion|
|Market Forecast in 2028||US$ 8.7 Billion|
|Growth rate (2023 to 2028)||CAGR of 7.7%|
|Base Year of the Analysis||2022|
What is Preclinical CRO?
A preclinical contract research organization (CRO) refers to a support center, which provides expertise in research and development (R&D). It ensures that a therapeutic gadget or medication is successfully developed and sheltered before being launched in the market. In addition to this, preclinical CRO offers services that assist in clearing a pharmaceutical item through animal testing and advancing it to the clinical phase. It also provides critical studies to the restorative workforce, various industries, researchers, legislative contacts, etc., for assessing drug efficacy and safety in animal models and completing investigational new drug (IND) filing studies.
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What are the Growth Prospects and Trends in the Preclinical CRO Market?
The escalating demand for effective drugs and healthcare devices, on account of rising prevalence of chronic diseases, including cardiovascular diseases (CVDs), cancer, diabetes, etc., is primarily driving the preclinical CRO market. Additionally, preclinical CRO offers several end-to-end services, such as toxicology testing, immunization trials, bio-identity study, etc., which are also catalyzing the market growth. Apart from this, continuous upgradations in drug approval processes by the Food and Drug Administration (FDA), such as evaluation of the report, monitoring investigations, design of a protocol, etc., are further augmenting the global market. Moreover, numerous technological advancements, including the development of fast approval processes to analyze patterns and identify molecular compounds for drug discovery activities, are anticipated to fuel the preclinical CRO market over the forecasted period.
Who are the Key Players Operating in the Preclinical CRO Industry?
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Charles River Laboratories Inc.
- Covance Inc. (Laboratory Corporation of America Holdings)
- Eurofins Scientific
- ICON Plc
- MD Biosciences Inc. (MLM Medical Labs)
- Medpace, Parexel International Corporation
- PPD Inc.
- Wuxi AppTec.
What is Included in Market Segmentation?
The report has categorized the market based on service, end use and Region.
Breakup by Service:
- Bioanalysis and DMPK Studies
- Toxicology Testing
Breakup by End Use:
- Biopharmaceutical Companies
- Government and Academic Institutes
- Medical Device Companies
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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