Over the forecast period, an increasing number of inorganic strategies, such as acquisition by the major market players to increase their product portfolio, are anticipated to fuel market growth for preclinical assets worldwide. For instance, on May 31, 2022, the biotechnology company Repertoire Genesis Inc. and the global scientific bio analytical testing and clinical diagnostics testing company Eurofins Scientific both announced the completion of the acquisition of a majority stake in the latter.
By acquiring Repertoire Genesis Inc., Eurofins Scientific will be able to better serve the global healthcare industry and diversify its portfolio of special services.
A similar acquisition of PPD, Inc., a global provider of clinical research services to the biopharma and biotech industry, for US$17.4 billion was announced by Thermo Fisher Scientific Inc., a U.S.-based supplier of scientific instrumentation, reagents and consumables, and software services, in December 2021. Thermo Fisher Scientific Inc.’s ability to offer more products in the biotechnology and pharmaceutical industries will be aided by this acquisition.
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The financial standing of companies in all industries, including the private healthcare sector, has been impacted by the COVID-19 pandemic and lockdowns in numerous nations around the world. Due to strict lockdown in several areas, the COVID-19 pandemic has affected the entire supply chain of the healthcare industry. One such example is private healthcare.
The global preclinical assets market has grown as a result of an increasing number of service launches during the COVID-19 pandemic. For instance, in May 2020, Saama Technologies, Inc., a provider of a clinical analytics platform powered by AI (Artificial Intelligence), and iNDX. Ai, a company that provides translational research platforms and multi-omics data analytics, announced the opening of the new COVID-19 Command Center. The Life Science Analytics Cloud (LSAC), iNDX, and Saama Technologies, Inc. served as the foundation for the COVID-19 Command Center. With the help of Ai’s iCore Platform, a therapeutic area-specific data analytics platform, life sciences companies will be better able to move forward with their own internal research and development initiatives for therapies to prevent and treat COVID-19.
Thus, it is anticipated that over the course of the forecast period, the key players will intensify their efforts to create new platforms to treat and prevent COVID-19 infection.
A global virology and immunology contract research organisation (CRO), Viroclinics-DDL, was acquired by Cerba Healthcare, a medical diagnosis company, from Summit Partners, Capital Market Company, on August 9, 2022. This acquisition will expand and change Cerba Healthcare’s clinical trials portfolio. With the acquisition, Cerba Healthcare will be better able to execute on its strategy and solidify its position in the clinical trial laboratory services market.
A clinical research company named ICON plc. announced in July 2021 that it had successfully acquired the research firm PRA Health Sciences. With 38,000 employees in 47 countries, the combined company will continue to be known as ICON and will be an advanced healthcare intelligence and clinical research organisation. With its improved operations, the combined company will transform clinical trials.
The market for preclinical assets worldwide is anticipated to grow at a CAGR of 7.5% from 2022 to 2030 as a result of an increase in inorganic strategies, such as the launch of services and platforms by major market players for preclinical studies.
Due to increased toxicology testing research and development by major market players, the Toxicology Testing segment is anticipated to hold the leading position among service types for the year 2022. For instance, the OECD approved the first toxicology testing strategy without using animals in June 2021. (Organization for Economic Co-operation and Development). To determine whether a substance causes allergic reactions on the skin, the testing strategy consists of three different methods.
Because market players are investing more in research and development related to prostate cancer, patient derived xenograft models are anticipated to hold the leading position among model types. For instance, Crown Bioscience, a global provider of drug discovery and development services, announced in September 2018 that patient-derived xenograft (PDX) models for prostate cancer had been added to their line of products.
IQVIA, The Charles River Laboratories, AmplifyBio, Pharmatest Services, Absorption Systems, PPD Inc., Domainex, SGS SA (SGS), Shanghai Medicilon Inc., Intertek Group plc, TCG Lifesciences Private Limited, Labcorp Drug Development, Comparative Biosciences, Inc., Laboratory Corporation of America, Inc., and Crown Bioscience are some of the major companies competing in the global preclinical assets market.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Preclinical Assets Market Size Analysis from 2023 to 2030
11.6 COVID-19 Outbreak: Preclinical Assets Industry Impact
Chapter 2 Global Preclinical Assets Competition by Types, Applications, and Top Regions and Countries
2.1 Global Preclinical Assets (Volume and Value) by Type
2.3 Global Preclinical Assets (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Preclinical Assets Sales, Consumption, Export, Import by Regions (2017-2023)
Chapter 5 North America Preclinical Assets Market Analysis
Chapter 6 East Asia Preclinical Assets Market Analysis
Chapter 7 Europe Preclinical Assets Market Analysis
Chapter 8 South Asia Preclinical Assets Market Analysis
Chapter 9 Southeast Asia Preclinical Assets Market Analysis
Chapter 10 Middle East Preclinical Assets Market Analysis
Chapter 11 Africa Preclinical Assets Market Analysis
Chapter 12 Oceania Preclinical Assets Market Analysis
Chapter 13 South America Preclinical Assets Market Analysis
Chapter 14 Company Profiles and Key Figures in Preclinical Assets Business
Chapter 15 Global Preclinical Assets Market Forecast (2023-2030)
Chapter 16 Conclusions
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