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Preclinical CRO Market Size By Service (Bioanalysis & DMPK Studies, Toxicology Testing), By End-use (Biopharmaceutical Companies, Government & Academic Institutes, Medical Device Companies), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Japan, China, India, Australia, Mexico, Brazil, South Africa, Saudi Arabia), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI2860
  • Published Date: Dec 2022
  • Report Format: PDF

Industry Statistics

Preclinical CRO Market size was recorded at more than USD 5 billion in 2022. Driven by the soaring number of drugs in preclinical trials, the industry is anticipated to grow at over 7.5% CAGR from 2023 to 2032.
 

An upsurge in outsourcing R&D initiatives to CROs for preclinical validation is foreseen to bolster market progress. The rising burden of chronic diseases in developed economies due to sedentary lifestyles, unhealthy eating habits, and surging consumption of tobacco & smoking has encouraged pharmaceutical companies, several organizations, governments, academic & nonprofit organizations, research institutes, and others to focus on innovations in medicine and make substantial investments toward research in the field.
 

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Increasing R&D expenditure for early-stage development, coupled with the mounting number of drugs in the preclinical phase, is projected to boost the preclinical CRO market share. Additionally, advancements in the drug discovery and development process, preclinical trials, Proof-Of-Concept (POC), and First-In-Human (FIH) multicenter studies are providing lucrative advantages for discovering the target population and refining recruitment, which is foreseen to propel business expansion.
 

Strict regulatory guidelines may restrain industry progression

Stringent regulatory policies are a major factor restraining preclinical CRO market growth. The implementation of international standards including Good Laboratory Practice (GLP) regulations by various regulatory authorities, such as the U.S. FDA and European Medicines Agency (EMA), has hampered the uptake of preclinical CRO services. These guidelines control the quality of drugs developed in preclinical testing to eliminate errors. Nevertheless, ongoing efforts by pharmaceutical companies to develop novel drugs for chronic diseases are expected to aid the market value in overcoming this restraint.
 

Increasing prominence in the preclinical phase to accelerate toxicology testing segment trends

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In terms of service, the preclinical CRO market is categorized into toxicology testing, bioanalysis & DMPK studies, and others. The toxicology testing segment is projected to surpass a valuation of USD 4 billion by 2032. Toxicology studies assist in regulating the safety of a drug for its probable dose as well as its impact on organ structure & functionality to provide data that is vital for defining trial parameters while identifying adverse reactions to toxicities. Toxicology studies are a legal prerequisite of drug development, which is slated to promote product utilization for these testing processes.
 

Booming need for special preclinical CRO services to augment product uptake by medical device companies

With respect to end-use, the preclinical CRO market is segregated into biopharmaceutical companies, medical device companies, government & academic institutes, and others. The medical device companies segment is anticipated to depict more than 7.5% CAGR between 2023 and 2032. The segment growth is attributable to the escalating demand for special preclinical CRO services that fulfill the personalized needs of medical device and diagnostics companies. Preclinical trials are crucial in the development and life cycle of medical devices and support medical device performance and safety claims made by manufacturers, which is speculated to impel the segment development.
 

Strong presence of pharma companies to support North America market expansion

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North America preclinical CRO market held more than 43% business share in 2022 as a result of the strong presence of key pharma and medical device companies in the region. Furthermore, consistent drug development is likely to contribute to the high revenue share of the North America preclinical CRO business.
 

Enhancement of R&D capabilities to strengthen the preclinical CRO market outlook

Charles River Laboratory, Inc., Pharmaceutical Product Development (PPD), LLC (a part of Thermo Fisher Scientific), Laboratory Corporation of America, Inc., ICON plc, Parexel International Corporation, Eurofins Scientific, Medpace, Inc., SGS SA, WuXi AppTec, and Altasciences Company, Inc. are some of the key players in the market. These firms primarily focus on expanding their R&D facilities and collaborating with public and private healthcare companies to gain a competitive edge in the market.
 

Impact of COVID-19 on the preclinical CRO market trends

The COVID-19 outbreak negatively impacted industry growth due to disruptions in clinical trials in the initial phases of the pandemic. However, with the progression of the pandemic, the number of clinical trials increased and developments in vaccine formation surged, encouraging the use of CRO solutions. Preclinical trials are important in drug development and medical research, and thus, the market experienced an upsurge in demand to provide new designs and streamlined ways to benefit patients, researchers, as well as healthcare practitioners. It aided in improving the effectiveness of the process and enhance the quality of research.
 

The preclinical CRO market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2018 to 2032 for the following segments:

By Service

  • Bioanalysis & DMPK studies
  • Toxicology testing
  • Others

By End-use

  • Biopharmaceutical companies
  • Government and academic institute
  • Medical device companies
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
Authors: Sumant Ugalmugle, Rupali Swain

Frequently Asked Questions (FAQ) :

Global market for preclinical CRO exceeded a valuation of USD 5 billion in 2022 and is set to progress at more than 7.5% CAGR over the next 10 years owing to increasing R&D expenditure on early-stage development, coupled with the growing number of drugs in the preclinical phase.
Medical device companies segment is anticipated to depict more than 7.5% CAGR between 2023 and 2032 due to the mounting demand for special preclinical CRO services that fulfill the personalized needs of medical device and diagnostics companies.
Toxicology testing segment is projected to surpass USD 4 billion by 2032 as toxicology studies are a legal prerequisite of drug development.
North America preclinical CRO market held more than 43% business share in 2022 on account of consistent drug development and the strong presence of key medical device manufacturers in the region.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 10
  • Tables & Figures: 129
  • Countries covered: 15
  • Pages: 104
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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