Preclinical CRO Market Highlights
Market Research Future (MRFR) analysed the global preclinical CRO market 2020 through the review period 2019 to 2024. As per MRFR analysis, the preclinical CRO market is expected to surge at 14% CAGR across the analysis period. By 2024, the preclinical CRO market is expected to value at USD 5,234.7 Mn by 2024. COVID 19 analysis of the preclinical CRO market is offered along with the report.
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The growing demand for toxicology testing solutions across diagnostic centers can favor the preclinical CRO market across the analysis period. The increase in cases of health issues clinics and the growing demand for disruptive solutions can favor the preclinical CRO market solution. The emergence of new ailments is observed to trigger the demand for research centers that can benefit the market in the near future. Increasing surge in the demand for the assessment of new drugs and chemicals, along with the rapid growth of the biopharmaceutical and pharmaceutical field can boost the market through the analysis period. The introduction of disruptive technologies and their development by various reputed companies to offer better services can promote the expansion of the preclinical CRO market through the analysis period.
Preclinical CRO Market Segment Analysis
The segment study of the worldwide preclinical CRO market is done by services, therapeutics, and end users.
The service-based segments of the preclinical CRO market toxicology, and DMPK (Bioanalysis and Drug Metabolism and Pharmacokinetics) among others. The therapeutic-based segments of the global preclinical CRO market are general surgery, gastrointestinal surgery, respiratory, diagnostic imaging, cardiovascular, orthopedics, ophthalmology, ear-nose-throat (ENT), dental, neurology, and nephrology and urology among others. The end user-based segments of the global preclinical CRO market are diagnostic centers, hospitals & clinics, pharmaceutical companies, and research laboratory.
The toxicological testing segment can churn-up about USD 2,476.28 Mn at a decent pace by 2024. The rising need for the testing of new chemicals and drugs across the biopharmaceutical and pharmaceutical sectors can bolster the preclinical CRO market across the analysis period. However, the DMPK segment can witness rise of about 8.96% CAGR across the assessment period. The introduction of technological developments by several renowned companies and market penetration by start-ups can that can offer better services to pharmaceuticals can offer thrust to the preclinical CRO market rise in the near future.
Global Preclinical CRO Market, by Service
- Toxicology Testing
- Bioanalysis and Drug Metabolism and Pharmacokinetics (DMPK) Studies
Global Preclinical CRO Market, by Application
- Central Nervous System (CNS) Disorders
- Cardiovascular Diseases
- Immunological Disorders
- Respiratory Diseases
- Infectious Diseases
Global Preclinical CRO Market, by End User
- Pharmaceutical and Biopharmaceutical Industries
- Medical Device Companies
- Academic Institutes
Preclinical CRO Market Regional Analysis
As per geographic assessment of the global preclinical CRO market, the market in the Americas can dominant the global market through the assessment period. In Europe, the market can secure considerable share of the world market. The gradual rise in the outsourcing of research activities in Europe can promote the regional preclinical CRO market through the analysis period. Germany is expected to secure the highest market share, about 24.7%, and can register about 6.69% CAGR across the analysis period.
MRFR study reveals that the market in the Americas can hold nearly 40.7% share of worldwide market. The market in the region is expected to rise at 7.49% CAGR in the analysis period. In the Asia Pacific region, the preclinical CRO market is anticipated to rise at considerable pace in the near future. The Indian market can exhibit CAGR of about 9.44% through the review period. In Europe, the market can earn about USD 1,670.19 Million by 2024.
Preclinical CRO Market Players
IQVIA (US), Envigo (US), ICON PLC (Dublin), PAREXEL International Corporation (US), Charles River (US), Eurofins Scientific (Luxembourg), PRA Health Sciences (US), Medpace (US), Laboratory Corporation of America Holdings (US), WuXi AppTec (China), Pharmaceutical Product Development, LLC (US), and MD Biosciences (US) are some prominent names in the global preclinical CRO market that are listed by MRFR.
- Contract research organizations (CROs)
- Pharmaceutical & biopharmaceutical industries
- Medical device companies
- Academic institutes
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