According to IMARC Group’s latest report, titled “Preclinical CRO Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global market reached a value of US$ 4.6 Billion in 2020. A preclinical contract research organization (CRO) refers to a support center, which provides expertise in research and development (R&D). It ensures that a therapeutic gadget or medication is successfully developed and sheltered before being launched in the market. In addition to this, preclinical CRO offers services that assist in clearing a pharmaceutical item through animal testing and advancing it to the clinical phase. It also provides critical studies to the restorative workforce, various industries, researchers, legislative contacts, etc., for assessing drug efficacy and safety in animal models and completing investigational new drug (IND) filing studies.
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The escalating demand for effective drugs and healthcare devices, on account of rising prevalence of chronic diseases, including cardiovascular diseases (CVDs), cancer, diabetes, etc., is primarily driving the preclinical CRO market. Additionally, preclinical CRO offers several end-to-end services, such as toxicology testing, immunization trials, bio-identity study, etc., which are also catalyzing the market growth. Apart from this, continuous upgradations in drug approval processes by the Food and Drug Administration (FDA), such as evaluation of the report, monitoring investigations, design of a protocol, etc., are further augmenting the global market. Moreover, numerous technological advancements, including the development of fast approval processes to analyze patterns and identify molecular compounds for drug discovery activities, are anticipated to fuel the preclinical CRO market over the forecasted period. Looking forward, IMARC Group expects the preclinical CRO market to grow at a CAGR of 8.2% during 2021-2026.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Charles River Laboratories Inc.
- Covance Inc. (Laboratory Corporation of America Holdings)
- Eurofins Scientific
- ICON Plc
- MD Biosciences Inc. (MLM Medical Labs)
- Medpace, Parexel International Corporation
- PPD Inc.
- Wuxi AppTec.
Market Segmentation:
Breakup by Service:
- Bioanalysis and DMPK Studies
- Toxicology Testing
- Others
Breakup by End Use:
- Biopharmaceutical Companies
- Government and Academic Institutes
- Medical Device Companies
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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