Global Preclinical Cro Market Size 2024, Forecast To 2033
6 Mar, 2024
The preclinical Contract Research Organization (CRO) market has demonstrated robust growth, escalating from $5.15 billion in 2023 to $5.66 billion in 2024, with a remarkable Compound Annual Growth Rate (CAGR) of 9.9%. The historic period's growth is attributed to the demand for accelerated drug development, adoption of cost containment strategies, a focus on core competencies, compliance with regulatory requirements, and the globalization of clinical trials. Projecting forward to 2028, the preclinical CRO market is expected to continue its upward trajectory, reaching $7.94 billion at a CAGR of 8.8%. The forecast period will witness growth driven by factors such as the rise in personalized medicine, emphasis on rare diseases and orphan drugs, increased outsourcing in biopharmaceuticals, a focus on biomarker research, and the demand for real-world evidence generation. Key trends in the forecast period involve the integration of artificial intelligence (AI), expansion of oncology research, advancements in omics technologies, developments in in vitro and in vivo models, and collaboration for translational research.
Global Preclinical CRO Market Key Driver
The growing demand for preclinical trials is set to propel the expansion of the preclinical CRO market. Preclinical trials encompass studies conducted on medicines or treatments before involving human volunteers as test subjects. These trials, often involving novel medical devices, prescription medications, and diagnostics, aim to determine a safe starting dose for first-in-human research and assess potential product toxicity. The pivotal role of preclinical trials in drug development is increasingly recognized, with a focus on ensuring the safety and efficacy of new drugs. As of the end of 2022, a significant increase in preclinical studies was noted, with 437,536 trials completed compared to the 399,501 conducted by the end of 2021, as reported by the National Library of Medicine. Consequently, the escalating demand for preclinical trials is a driving force behind the growth of the preclinical CRO market, showcasing positive trends in 2023, 2024, and 2028.
Get A Free Sample Of The Global Preclinical CRO Market ReportGlobal Preclinical CRO Market Segments
The preclinical cro market covered in this report is segmented –
1) By Service: Bioanalysis And DMPK Studies, Toxicology Testing, Compound Management, Chemistry, Safety Pharmacology, Others Services
2) By Type: Patient Derived Organoid (PDO) Model, Patient Derived Xenograft Model
3) By Animal Model: Small Animal Model, Large Animal Model
4) By Model System: In Vivo, In Vitro
5) By End User: Biopharmaceutical Companies, Government And Academic Institutes, Medical Device Companies, Other End-users
By Geography:The regions covered in the preclinical cro market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the preclinical CRO market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global preclinical CRO market during the forecast period. The regions covered in the preclinical cro market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Preclinical CRO Industry Players
Eurofins Scientific SE, PRA Health Sciences Inc., Wuxi AppTec Co. Ltd., Medpace Holdings Inc., Charles River Laboratories International Inc., Laboratory Corporation of America Holdings, SGA SA, Intertek Group plc, Crown Bioscience International, Cynbiose, AmplifyBio LLC, Vivotecnia SL, Simavita Ltd., BioEmission Technology Solutions, Altasciences Company Inc., Global Center For Medical Innovation, Pharmaceutical Product Development LLC, Parexel International Corporation, Envigo RMS Holding Corporation, Veeda Clinical Research Ltd., ICON plc, Kunming Biomed International Ltd., PharmaLegacy Laboratories, NorthEast BioAnalytical Laboratories LLC, MDS Pharma Services, MPI Research, Toxikon Corporation, BioReliance Corporation, Covance Inc., Syngene International Limited
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Preclinical CRO Market Overview
Preclinical CROs (contract research organizations) are support organizations that provide the knowledge in research and development needed to guide a drug candidate through animal testing and advance it to the clinical stage. A preclinical CRO supports new medical product producers in showing product safety and efficacy in living animals that the Food and Drug Administration (FDA) considers mirroring human anatomy most closely before entering clinical trials or being used for human care.
Preclinical CRO Global Market Report 2023 provides data on the global preclinical cro market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The preclinical cro market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.