Report ID :10094812 |
Published Date : 21 Mar 2025 |
Report Format : |
Delivery Timeline :48-72 Business Hours
Global Preclinical CRO Market Highlights Over 2022 - 2031
The global preclinical CRO market is estimated to grow at a CAGR of ~8% over the forecast period, i.e., 2022 – 2031. Moreover, in the year 2021, the market registered a revenue of approximately USD 5.0 billion. The growth of the market can be attributed to the increase in the number of pharmaceutical companies in the world and surge in the research and development expenditure. According to the United Nations Educational, Scientific and Cultural Organization (UNESCO) Institute for Statistics, approximately USD $1.7 trillion has been spent globally on research and development (R&D) and countries have promised to substantially increase their expenditure on R&D by the end of 2031. Additionally, the rising chronic diseases with the need of earlier diagnosis and treatment is expected to increase the research and development process. According to the National Library of Medicine, nearly 1 in a 3 adults suffer from multiple chronic conditions that are leading to a global burden. Therefore, preclinical CRO are required for the trials of medicines in order to defeat chronic diseases.
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Furthermore, the requirement for the right vaccine for COVID-19 has speed up the growth of the preclinical CRO. The investment was made by different research institutes and pharmaceutical players in the market for the trials of the vaccines. Therefore, COVID-19 had a positive impact on the growth of the global preclinical CRO market.
The global preclinical CRO market is segmented by end-user into biopharmaceutical industries, medical device companies, and academic institutes & governments. Out of these, the biopharmaceutical industry segment is expected to have modest growth over the forecast period. This is attributed to government support through subsidies and funds for the development of the biopharmaceutical industry. Furthermore, there is growing trend among the small & medium scale enterprises to outsource their services to biopharmaceutical companies. Hence, government support and small and medium scale enterprises outsourcing trend are expected to drive the growth of the biopharmaceutical industries segment.
Global Preclinical CRO Market Regional Synopsis
Regionally, the global preclinical CRO market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region witnessed noteworthy growth in the year 2021 owing to the presence of advanced level preclinical CRO’s. Furthermore, as per the National Center for Science and Engineering Statistics, the U.S. total expenditure on R&D was USD 667 billion in 2019. Moreover, the market in Europe region is anticipated to have the second largest growth by the end of 2031, attributable to the emerging concept of outsourcing services, which is anticipated to increase the outsourcing of preclinical activities to the CROs.
Market Segmentation
Our in-depth analysis of the global preclinical CRO market includes the following segments:
By End-User
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Biopharmaceutical Industries
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Medical Device Companies
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Academic Institutes & Government
By Service
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Bioanalysis & DMPK Studies
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Toxicology Testing
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Compound Management
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Chemistry
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Others
Growth Drivers and Challenges Impacting the Growth of the Global Preclinical CRO Market
Growth Drivers
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Surge in the research and development expenditure
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Increase in the pharmaceutical companies
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Emerging concept of outsourcing activities to preclinical CRO
Challenges
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Lack of standardization owing to the CRO’s failure to comply with good practices standards
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Poor quality of work of preclinical CRO
Key Companies Dominating the Global Preclinical CRO Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. some of the prominent industry leaders in the global preclinical CRO market that are included in our report are PPD Inc. (Thermo Fisher Scientific), Medpace, Inc., Eurofins, Laboratory Corporation of America Holdings, Charles River Laboratories International, Inc., WuXi AppTec Co., Ltd., Intertek Group plc, Envigo, MPI Research, Crown Bioscience, Inc., and others.
Latest Developments in the Global Preclinical CRO Market:
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14 March 2022: Thermo Fisher Scientific Inc., announced plan to launch bioanalytical labs over the next three years in the Richmond region. The company is planning to invest $97 million for the clinical research operations owing to the increased demand for its services.
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14 October 2019: Medpace, Inc., announced its expansion of molecular and genetic laboratory capabilities in Belgium. Molecular and genetic testing is becoming an important part for assessment of benefits and risk of treatment on individuals and patient selection.
Key Reasons to Buy Our Report
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
Frequently Asked Question
The market is segmented by end-user, service and by region.
The biopharmaceutical industries segment is estimated to grow over the forecast period and display significant growth opportunities.
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