Preclinical CRO Market Scope
Preclinical CRO market should project a growth rate of 8.14% between 2020 and 2027, says Market Research Future (MRFR). MRFR expects the global Preclinical CRO market to reach USD 5,234.7 Million by 2027-end.
Top Boosters and Key Barriers
The impact of the novel coronavirus has been brutal, with various pharmaceutical vendors forced to pause new trials or even suspend the ongoing ones. This shows the magnitude of the disruptions caused by the COVID-19 outbreak. To address the severe effects of the SARS-CoV-2 pandemic, organizations including patient recruitment organizations (PROs) and site management organizations (SMOs) are collaborating with new virtual trial platform companies, remote monitoring solution vendors and eRecruitment providers. This will help them gain the ability to support hybrid CT models. Despite the world still under a strict lockdown, the preclinical contract research organizations market will recover rapidly, in view of the rising penetration of advanced clinical trial approaches that deploy virtual trial tools coupled with the surge in favorable regulatory policies.
Rising expenditure with respect to CRO services will be favorable for the market as well. The Servier Research Institute conducted a survey that concluded that in the year 2017, close to 50% of the failure during the preclinical phase was caused by toxicology testing, which has steered the focus towards preclinical CRO services. Additionally, strict regulations implemented by the EU pertaining to preclinical CRO services has raised the need for toxicology testing, which could mean higher revenue generation in the next couple of years.
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Major stakeholders in the preclinical contract research organization services market are collaborating with other firms to develop open technology standards, which will benefit the global market. Acquisitions and mergers are a few other competitive strategies prevalent among players, with the aim to bolster their market positions.
Preclinical CRO Market Segmental Insight
The services considered in the MRFR report are Bioanalysis and Drug Metabolism, Pharmacokinetics (DMPK) Studies and Toxicology Testing.
Application—wise, the segments are Central Nervous System (CNS) Disorders, Diabetes, Oncology, Immunological Disorders, Cardiovascular Diseases, Infectious Diseases, Respiratory Diseases, and more.
End users profiled in the market study are Medical Device Companies, Academic Institutes as well as Pharmaceutical and Biopharmaceutical Industries.
Preclinical CRO Market Regional Outlook
Europe, North America along with Asia Pacific or APAC and RoW/Rest of the World are the primary markets for preclinical CRO.
America is currently the top market for preclinical contract research organization, in view of the thriving healthcare industry and the massive patient pool in the region. Evolving lifestyle combined with high healthcare spending also foster substantial market growth in the region. Several renowned pharmaceutical vendors in the US and Canada prefer leaner and structured business models, which pushes their dependency on preclinical CROs. The dramatic expansion of the biotech sector as well as the biopharmaceutical services industry in the region has also resulted in a higher number of vendors focusing on research as well as drug development.
Europe is the second most bankable preclinical CRO market and should attain a CAGR of 6.69% between 2020 and 2027. Considerable funds allocated for research, enormous patient population and increasing spending on healthcare are some of the key growth boosters. The lucrative healthcare industry in the region along with strong government support in terms of R&D also ensures significant gains in the following years. High-quality regulations followed by the pharmaceutical sector, stunning expansion of the biologics and biosimilar industry, and escalation in clinical trial activities should also induce growth in the European market over the review period. In 2018, Germany seized the biggest share of 24.7% in the European market and will continue to lead throughout the analysis period.
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APAC is making the fastest progress in the global market, encouraged by the colossal patient population and rapidly developing countries such as India and China witnessing growth in per capita healthcare spending. Lately, Japan has been a hotspot for various clinical trials, while also observing a surge in product registration and approvals. Moreover, global CROs have been striving to bolster their business in Japan by spending substantially on facilities as well as resources in services including imaging, clinical supplies, and central laboratories, which can translate into considerable growth for the APAC market.
Preclinical CRO Market Key Players
WuXi AppTec (China), Envigo (US), Charles River (US), Eurofins Scientific (Luxembourg), IQVIA (US), PRA Health Sciences (US), PAREXEL International Corporation (US), Laboratory Corporation of America Holdings (US), Pharmaceutical Product Development, LLC (US), ICON PLC (Dublin), MD Biosciences (US), Medpace (US) are the major manufacturers active in the market for preclinical CRO.
Preclinical CRO Industry Latest Updates
June 2021
Scientist.com, a reputed pharmaceutical firm focused on exhaustive life science research has teamed up with oncology CROs for the launch of Disease Model Finder. This invention will assist medical researchers in using cellular, genetic, and patient data to achieve the ideal research models to carry out preclinical development projects. Disease Model Finder makes use of several machine learning algorithms to help researchers explore huge data volumes and identify in vivo and in vitro models for clinical studies.
May 2021
Keensight Capital is set to acquire a substantial share in Symeres from the Gilde Healthcare Private Equity fund. Symeres is a renowned small molecule CRO in Europe and offers R&D services for preclinical drug discovery as well as Phase I & II stage in drug development as well as manufacturing to major biotechnology and pharmaceutical companies all over the world.
Table of Content
1 Executive Summary
2 Market Introduction
2.1 Definition 16
2.2 Scope Of The Study 16
2.3 Market Structure 16
3 Research Methodology
3.1 Research Process 17
3.2 Primary Research 18
3.3 Secondary Research 18
3.4 Market Size Estimation 19
3.5 Forecast Model 20
4 Market Dynamics
4.1 Overview 21
4.2 Drivers 22
4.2.1 Growth In Outsourcing Of Non-Core Functions 22
4.2.2 Enhanced Abilities Of Preclinical CROs To Offer Additional Value-Added Services 22
4.2.3 Surging Number Of Drugs In The Preclinical Phase 22
4.2.4 Economies Of Production And Scale 22
4.2.5 Mutual Benefit To The Contractor As Well As The Client 22
4.2.6 High R&D Expenditure 23
4.3 Restraints 24
4.3.1 Scarcity Of Labour And High Labour Cost 24
4.3.2 Structural Changes In The Industry 24
4.4 Opportunity 24
4.4.1 Opportunity For Medical Device Companies To Outsource Preclinical Trials To CROs 24
4.5 Challenges 25
4.5.1 Supply Chain Complexity And Third-Party Control 25
4.5.2 Outdated Clinical Trial Activities 25
4.6 Macroeconomic Indicators 25
4.7 Trends 25
5 Market Factor Analysis
5.1 Value Chain Analysis 26
5.1.1 R&D 26
5.1.2 Good Laboratory Practices (GLP) 26
5.1.3 Pre-Clinical CRO Testing 26
5.2 Porter’s Five Forces Analysis 27
5.2.1 Bargaining Power Of Suppliers 27
5.2.2 Bargaining Power Of Buyers 27
5.2.3 Threat Of New Entrants 28
5.2.4 Threat Of Substitutes 28
5.2.5 Intensity Of Rivalry 28
5.3 Investment Opportunities 28
5.4 Pricing Analysis 28
…TOC Continued…
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