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Preclinical CRO Market Analysis

Report ID: GMI2860
Published Date: Mar 2023
Report Format: PDF

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Preclinical CRO Market Analysis

Preclinical CRO market from service segment includes bioanalysis & DMPK studies, toxicology testing and others. The bioanalysis & DMPK studies segment is estimated to reach USD 4.9 billion by 2032. Bioanalysis and DMPK studies are also essential for proper evaluation and analysis of efficacy and safety data for novel drug development. Moreover, the outcomes of non-clinical toxicological and pharmacological studies must be assessed in combination with the results from non-clinical and clinical pharmacokinetic studies. This should be done to deliver beneficial data for safe and suitable conduct of preclinical trials and for further assessment of the mechanism of action in humans. Thus, bioanalysis & DMPK studies is important in preclinical trials, thereby fostering the segment demand.

Based on end-use, the preclinical CRO market is segmented into biopharmaceutical companies, government & academic institutes, medical device companies and others. Biopharmaceutical companies segment accounted for over USD 2.8 billion in 2022 and is expected to dominate the market during the analysis period. High growth is owing to increasing prevalence of various chronic diseases such as cancer, cardiac disease, neurological and infectious disease. This is further encouraging biopharmaceutical companies to increase investment in the development of novel drugs that will upsurge the demand for preclinical CRO services. Also, biopharmaceutical companies are adopting strategy to remain competitive and flexible in growing knowledge, advancing technologies, and sustain an uneven economic environment. Adoption of such strategies will be conducive to the market expansion.

Preclinical CRO Market Size By Region

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North America preclinical CRO market accounted for considerable revenue in 2022 and is poised to exceed USD 4.7 billion by 2032. Presence of large number of market players in the region will boost the North America market outlook. Furthermore, increasing focus of pharmaceutical companies on novel drug development for treatment of various chronic disease is anticipated to boost North America preclinical CRO industry over the forecast period.

Authors: Mariam Faizullabhoy, Gauri Wani

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.