Preclinical CRO Market Highlights

The Global Preclinical CRO Market is estimated to be valued at USD 5,234.7 Million by 2024 and is expected to register a CAGR of 8.14% during the forecast period.

The toxicology testing segment is expected to lead the market and register a substantial CAGR to reach USD 2,476.28 Million by the end of 2024. Increasing demand for testing new drugs and chemicals and vigorous growth in the pharmaceutical and biopharmaceutical sectors are expected to drive the market growth. However, the bioanalysis and drug metabolism and pharmacokinetics (DMPK) studies segment is projected to exhibit the highest CAGR of 8.96% from 2019 to 2024. New technological developments by various companies to provide better services to pharmaceutical companies is driving the growth of the segment.

Free Sample PDF Available Here!! https://www.marketresearchfuture.com/sample_request/7274 

Americas accounted for the largest market share of 40.7% in 2018, and the regional market is projected to register a CAGR of 7.49% during the forecast period. Asia-Pacific is expected to register the fastest CAGR. The Indian market is projected to exhibit the highest growth rate of 9.44% during the forecast period of 2019 to 2024. 

Global Preclinical CRO   Market – Segmentations

For ease of understanding, the MRFR analysis has been segmented into four key dynamics:

By Service                            : Bioanalysis & DMPK Studies and Toxicology Testing among others.

By Therapeutic Area        : Oncology, Diabetes, Infectious Diseases, Immunological Disorders, Cardiovascular Diseases, and Respiratory Diseases among others.

By End-user                         : Pharmaceutical & Biopharmaceutical Industries and Medical Device Companies among others.

By Regions                          : North America, Asia Pacific, Europe, and the Rest-of-the-World.

Global Preclinical CRO   Market – Regional Analysis

The North American region, heading with the presence of established early-stage drug development CROs accounts for the leading market in the global preclinical CRO market. Moreover, factors such as the well-developed healthcare infrastructure, economic stability, and logistic advantages for the giant life science companies are driving the regional market. 

Additionally, growing activities of outsourcing research processes by pharmaceutical and biotechnology companies and huge patient pool are substantiating the growth of the market. The incredibly growing preclinical CRO market in the US which is led by the proliferating healthcare sector in the country propels the growth of the regional market.

The preclinical CRO market in the European region accounts for the second-largest market, globally. Factors fostering the regional market include the presence of key players mainly in Germany, Switzerland, and the UK.  Additional factors like the increased funding for research activities from the public & private organizations, the presence of a well-proliferated healthcare sector, substantial patient population, and the resurging healthcare expenditures are boosting the growth of the regional market.

The preclinical CRO market in Europe is estimated to register a significant CAGR throughout the review period. Among the two divisions of Europe, Western Europe heading with the significant contributions from the UK, Germany, and France, accounts for the larger market share. Eastern Europe on the other hand, accounts for the fastest growing region due to the vast opportunities from the untapped markets.

The Asia Pacific preclinical CRO   market has emerged as a promising market, globally. Factors such as substantial investments by Asian CMOs are leading the regional market. Simultaneously, the availability of cost-competitive, skilled workforce is propelling the growth of the regional market, attracting foreign investors. Moreover, the ever-increasing patient population and the continually improving economic conditions are some of the key factors providing impetus to the growth of the regional market. 

Global Preclinical CRO   Market – Competitive Landscape

Highly competitive, the preclinical CRO market appears to be widely expanded and fragmented characterized by the presence of several small and large-scale companies.  These organizations compete against each other based on pricing and an array of services.

Naturally, the competitive strength of these players is reliant on service pricing, service precision, versatility, and reliability of services. The market is forecasted to witness fierce competition with the potential extensions in innovations. Players operating in the drug discovery market strive to offer unique services with advanced features.

Major Players:

Key players leading the global preclinical CRO market are PAREXEL International Corporation, IQVIA, Envigo, Charles River, ICON plc., Eurofins Scientific, Medpace, PRA Health Sciences (PRA), Laboratory Corporation of America Holdings, WuXi AppTec, MD Biosciences, and Pharmaceutical Product Development, LLC among others.

Industry/Innovation/Related News:

March 12, 2019 –– Turner Scientific, LLC.  (the US), a preclinical CRO specializing in hearing research and the development of tinnitus announced its partnership with Sinclair Research (the US), a nonclinical research organization (CRO) offering animal efficacy models, IND-enabling and specialty toxicology services and GLP to offer GLP ototoxicity testing services collaboratively.

Although one-third of all FDA approved drugs are associated with hearing loss or tinnitus as possible side-effects, the potential for ototoxicity is both well-documented and not adequately addressed. Evaluating such potential damage to hearing represents a substantial unmet need of both patients and drug developers.

Together the companies will provide GLP auditory testing to evaluate the efficacy, as well as potential ototoxicity of compounds and devices ahead of clinical trials and a potential investigational new drug (IND) and investigational device exemption (IDE) approval.

OBTAIN RESEARCH REPORT DETAILS WITH TOC @ https://www.marketresearchfuture.com/reports/preclinical-cro-market-7274

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/preclinical-cro-market-7274