IMARC Group has recently released a new research study titled “Preclinical CRO Market Report by Service (Bioanalysis and DMPK Studies, Toxicology Testing, and Others), End Use (Biopharmaceutical Companies, Government and Academic Institutes, Medical Device Companies), and Region 2024-2032”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
The global preclinical CRO market size reached US$ 6.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 11.0 Billion by 2032, exhibiting a growth rate (CAGR) of 6.8% during 2024-2032.
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Preclinical CRO Market
A preclinical contract research organization (CRO) is a specialized entity that provides outsourced research services to pharmaceutical, biotechnology, and medical device companies for drug development and testing. These organizations offer a broad spectrum of services that include pharmacology, toxicology, bioanalysis, and other research studies mandated by regulatory authorities. Preclinical CROs offer a wide range of services, including in vitro and in vivo studies, toxicology testing, pharmacokinetics analysis, bioanalytical services, and regulatory support. They work closely with drug developers to design and execute preclinical studies, collect data, analyze results, and generate comprehensive reports for submission to regulatory authorities.
Preclinical CRO Market Trends:
Escalating costs and complexities associated with drug development are driving the market growth. In addition to this, the boom in innovative therapeutic areas, such as gene therapies and personalized medicine is surging the demand for specialized preclinical services which in turn is impelling the market growth. Besides this, the increasing number of mergers and acquisitions within the pharmaceutical industry provides an impetus the market growth.
Furthermore, advancements in technology, such as the integration of artificial intelligence (AI) and Big Data analytics in research, are not only enhancing the quality and speed of preclinical studies but also adding a competitive edge to the market.
Apart from this, the development of advanced technologies such as high-throughput screening, in-silico modeling, and genomics has enhanced the efficiency and accuracy of preclinical research, is supporting the market growth. Other factors, including enhanced focus on research and development (R&D) activities, growing outsourcing trend, stringent regulatory requirements: and rising prevalence of chronic diseases such as cancer, cardiovascular disorders, and neurological disorders, are presenting remunerative growth opportunities for the market.
Preclinical CRO Market Report Segmentation:
By Service:
- Bioanalysis and DMPK Studies
- Toxicology Testing
- Others
By End Use:
- Biopharmaceutical Companies
- Government and Academic Institutes
- Medical Device Companies
Regional Insights:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
Competitive Landscape with Key Players:
The competitive landscape of the preclinical CRO market size has been studied in the report with the detailed profiles of the key players operating in the market.
Some of These Key Players Include:
- 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
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Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
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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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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