Preclinical CRO Market Trends and Forecast Report to 2030
- by marketherald
Preclinical CRO Industry Overview
The global preclinical CRO market size was valued at USD 4.87 billion in 2021 and is expected to advance at a compound annual growth rate (CAGR) of 7.9% from 2022 to 2030.
Increased R&D budget for drug development is leading to rising demand for preclinical contract research organization (CRO) services, thus boosting the market growth during the forecast period. The surge in the number of preclinical trials involving large molecules and the growing need to curb R&D expense is expected to contribute to the growing demand for quality preclinical CRO. The ongoing COVID-19 pandemic initially disrupted preclinical research projects, especially during the first quarter of 2020. Nevertheless, lifesaving drugs are developing and are brought to market swiftly.
Gather more insights about the market drivers, restrains and growth of the Global Preclinical CRO Market
Over the years, there has been a significant change in the process of drug approval by the Food and Drug Administration (FDA). Recently, the 21st Century Cures bill was passed in the U.S., which fastened the approval process for the launch of breakthrough drugs and medical devices. These changes in approval processes are expected to drive innovation and are also anticipated to increase demand for preclinical services, thereby contributing to market growth.
With regards to the COVID-19 vaccine itself, preclinical studies have been performed at an exponential speed, indicative of the overwhelming role of CROs. Increasing spending on CRO services is expected to boost the market growth significantly during the forecast period. The growing demand for drugs for COVID-19 is further contributing to the market growth. Different organizations across the globe had made significant funding for developing therapeutics and medical devices for COVID-19. For instance, in April 2021, the WHO in the R&D Blusmartbizpostint of COVID-19 reported that over USD 1,618.5 million was funded for COVID-19 vaccine research. Such initiatives are likely to profit from the market growth.
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Preclinical CRO Market Segmentation
Grand View Research has segmented the global Preclinical CRO market on the basis of service, model type, end-use, and region:
- Preclinical CRO Service Outlook (Revenue, USD Million, 2018 – 2030)
- Bioanalysis and DMPK studies
- In vitro ADME
- In-vivo PK
- Toxicology Testing
- Compound Management
- Process R&D
- Custom Synthesis
- Medicinal Chemistry
- Computation Chemistry
- Safety Pharmacology
- Bioanalysis and DMPK studies
- Preclinical CRO Model Type Outlook (Revenue, USD Million, 2018 – 2030)
- Patient Derived Organoid (PDO) Model
- Patient derived xenograft model
- Preclinical CRO Model End-use Outlook (Revenue, USD Million, 2018 – 2030)
- Biopharmaceutical Companies
- Government and Academic Institutes
- Medical Device Companies
- Preclinical CRO Regional Outlook (Revenue, USD Million, 2018- 2030)
- North America
- Asia Pacific
- Latin America
Market Share Insights
- August 2021: Eurofins Scientific partnered with Fusion Antibodies; the partnership is to provide the best antibodies for a wide range of diseases. The agreement for this partnership is for two years and in this, advanced technology will be used.
- December 2021: Labcorp acquired Toxikon Corporation which is a contract research organization. This acquisition will help Labcorp with the development and expansion of CRO services in pharmaceuticals and medical devices.
Key Companies profiled:
Some prominent players in the Preclinical CRO market include
- Eurofins Scientific
- PRA Health Sciences, Inc.
- Wuxi AppTec
- Medpace, Inc.
- Charles River Laboratories International, Inc.
- Pharmaceutical Product Development (PPD), LLC
- SGS SA (SGS)
- Intertek Group Plc (IGP)
- Laboratory Corporation of America, Inc.
- Crown Bioscience
Order a free sample PDF of the Preclinical CRO Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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Preclinical CRO Industry Overview The global preclinical CRO market size was valued at USD 4.87 billion in 2021 and is expected to advance at a compound annual growth rate (CAGR) of 7.9% from 2022 to 2030. Increased R&D budget for drug development is leading to rising demand for preclinical contract research organization (CRO) services, thus boosting…
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