The global preclinical CRO market size is expected to be worth around US$ 8.9 billion by 2030, according to a new report by Vision Research Reports.
The global preclinical CRO market size was valued at US$ 4.8 billion in 2020 and is anticipated to grow at a CAGR of 8.5% during forecast period 2021 to 2030.
Preclinical CRO Market (By Service: Bioanalysis and DMPK Studies, Toxicology Testing, Others; By End-use: Biopharmaceutical Companies, Government and Academic Institutes, Medical Device Companies) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
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Report Coverage
| Report Scope | Details |
| Market Size | US$ 8.9 Bn by 2030 |
| Growth Rate | CAGR of 8.5% From 2021 to 2030 |
| Base Year | 2020 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Service, End-use |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Envigo Corp.; MPI Research; Eurofins Scientific; PRA Health Sciences, Inc.; Wuxi AppTec; Medpace, Inc.; Pharmaceutical Product Development (PPD), LLC; PARAXEL International Corp.; ICON Plc; Laboratory Corporation of America, Inc. |
Growth Factors
The market is expected to witness lucrative growth over the forecast period due to increasing R&D expenditure and growing outsourcing trend. The increasing volume of new drugs entering the preclinical phase is also anticipated to boost the market growth over the forecast period.
The market is undergoing a series of mergers and acquisitions, resulting in the improvement in full-service capabilities and international reach of larger companies. For instance, in 2019, WuXi AppTec acquired Pharmapace. On the other hand, mid-sized and smaller contract research organizations (CROs) are focusing on niche sectors and are providing a personalized approach to their sponsors. Various companies are focusing on research and development of new drugs, and therefore are outsourcing these activities to launch efficient CRO services in the market. This, in turn, provides a positive atmosphere for joint ventures among market participants owing to the preference of sponsors to maximize their benefits.
Key Players
Market Segmentation
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