Global Preclinical CRO Market to Grow with a CAGR of 8.53% through 2028
Increasing in the number of Pharmacokinetics and
Pharmacodynamics (PK/PD) Studies support the Preclinical CRO are the major
drivers for the Global Preclinical CRO Market.
According to TechSci Research report, “Preclinical
CRO Market –Global Industry
Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, the Global Preclinical CRO
Market stood 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. This
can be ascribed to collaborations and partnerships among leading companies with
a diverse approach to merge the expertise of individual companies and to
strengthen their position in the market.
Preclinical CRO plays a
critical role in the early stages of drug development and research. They
provide a range of services to pharmaceutical, biotechnology, and medical
device companies, as well as academic and government institutions. The primary
purpose of preclinical CROs is to conduct comprehensive and specialized testing
and research to evaluate the safety, efficacy, and potential risks of new drug
candidates and medical products before they advance to clinical trials in
humans. Significant growth in the healthcare industry across the globe
represents one of the key factors creating a positive outlook for the market.
Furthermore, the increasing number of drugs in preclinical phase and resource
efficacy is also driving the market growth. Such growing global business and
the use of Toxicology Studies and Efficacy Testing in Preclinical CRO in
various drugs developments lead to the increasing demand for Preclinical CRO.
According to a report published in July 2023, TransCure Bio Services, a
humanized mouse model co-operation research organisation (CRO), has entered
into a strategic partnership with a South Korean leading preclinical research
organisation (Preclina Inc), a Preclinical Research Organisation (CRO)
specialising in Autoimmune and Inflammatory Diseases. This partnership is a
major development for the company, as it expands its presence in the
Asia-Pacific region (APAC) and strengthens its services portfolio, thereby
improving the quality of research results. By partnering with Precline Inc, the
company will be able to provide biotechnology and pharma companies in
Asia-Pacific (APAC) with access to state-of-the-art mouse models and an
extensive suite of services necessary for optimal preclinical development.
Therefore, the increasing demand in the pharmaceutical and biotechnology
industry will drive the Preclinical CRO market. Preclinical CROs are
extensively used by pharmaceutical companies to conduct comprehensive testing
and research on new drug candidates.
These studies help determine the safety,
efficacy, and potential adverse effects of compounds before they enter clinical
trials. Rapid infrastructural development across the globe represents one of
the key factors stimulating the growth of the market. Moreover, leading players
operating in the industry are focusing on product innovations to offer a better
customer experience. They are also engaging in partnerships and collaborations
to increase their brand presence. Apart from this, Biotechnology companies rely
on preclinical CROs to validate their discoveries and assess the feasibility of
new therapies. CROs provide expertise in testing and characterizing biologics,
gene therapies, and other innovative treatments. Moreover, Preclinical CROs are
involved in evaluating the safety and performance of medical devices, including
implants, diagnostics, and medical equipment, before they are introduced to the
market.
This, along with the rising demand for clinical trials of drug
developments, is driving the market. Governments worldwide acknowledge the
economic and environmental significance of the Preclinical CRO industry and
have implemented various initiatives to foster its production and growth. There
is a growing emphasis on Real-World Evidence (RWE) practices within the
Preclinical CRO industry, with The use of real-world evidence from observational
studies was gaining importance, especially for post-market surveillance, safety
monitoring, and demonstrating the real-world effectiveness of treatments.
Additionally, Government support for the Global Preclinical Contract Research
Organization (CRO) market can take various forms and is often aimed at
fostering innovation, promoting research and development, ensuring public
health and safety, and advancing the overall healthcare ecosystem. Different
countries and regions may have unique approaches to supporting the CRO
industry. They also provide support for grants, subsidies, or funding programs
to support preclinical research and development activities conducted by CROs.
These funds can help CROs enhance their capabilities, invest in advanced technologies,
and drive innovation. Collaboration plays a pivotal role in the pursuit of
environmental sustainability within the Preclinical CRO industry.
Through
strategic partnerships, brands, manufacturers, and Preclinical CROs can
collaborate to implement sustainable practices. Governments may offer tax
incentives, credits, or deductions to encourage companies, including CROs, to
invest in research and development efforts. These incentives can help offset
the costs associated with preclinical research activities. AppTec, a leading
global provider of research, development and manufacturing services to the
pharmaceutical, biotechnology and medical device industries for the advancement
of discoveries and the delivery of innovative treatments to patients, today
announced that it has been named a recipient of Frost & Sullivan’s 2022
Global Contract Research and Development and Manufacturing Company of the Year
Awards. Frost & Sullivan is a global research and consulting firm that
works with customers to help them drive growth. This is the 6th consecutive
year that AppTec has received the award for leadership and innovative services.
However, Communication
and Collaboration and regulatory compliance and quality assurance are expected
to slow down the growth of the market in the coming years.
Browse over XX market data Figures and spread through XX Pages and an in-depth TOC on "Global Preclinical CRO Market”
The Global Preclinical
CRO Market segmentation is based on Service, Model Type, End-Use Industry, By
Company, and Region.
Some of the major companies
operating in the Global
Preclinical CRO Market include:
- Eurofins Scientific SE
- PRA Health Sciences, Inc.
- Wuxi AppTec
- Medpace, Inc.
- Charles River Laboratories
International, Inc.
- PPD (Thermo Fisher Scientific,
Inc.)
- SGA SA
- Intertek Group Plc (IGP)
- LABCORP Inc
- Crown Bioscience Inc
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“Certain regions, particularly North America, are
projected to exert significant demand for Preclinical CRO worldwide. The growth
in the competitive landscape and the presence of well-established companies in
the market, committed to enhancing their Preclinical CRO productivity each
year, are expected to contribute to a remarkable growth of the Global
Preclinical CRO Market in the forecast period," said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based Global management
consulting firm.
Preclinical CRO Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028
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,
Medical Device Companies), By Region, Competition has evaluated the future growth potential of
Global Preclinical CRO Market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
innovative market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global
Preclinical CRO Market.
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