Preclinical CRO Market Overview:
The global preclinical contract research organization (CRO) market, as per the report of Market Research Future (MRFR), is all set to growth by an impressive 6.6% CAGR during the forecast period (2018-2023). Preclinical CRO market size was previously valued at USD 4,450.2 million in 2017.
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Preclinical CROs are organizations that provide support to the pharmaceutical and biotechnological in their research endeavor by aiding with outsourced research services. Their service includes testing of bioanalysis & pharmacokinetics/pharmacodynamics (PK/PD) or drug metabolism and pharmacokinetics (DMPK), and toxicology. Launching of a product or extensive researches often require a substantial number of experts and factors such as scientists, medical personnel, administrators, governmental and industry liaisons, marketing experts, and a host of other technical and creative individuals. Mostly, these different sorts of people with sufficient credentials under one roof are quite unimaginable. Preclinical CRO segment can provide a holistic service by providing access to all the above-mentioned.
The preclinical CRO market is all set to benefit from the growing numbers of the life science companies that are investing much in research and development. Many drugs, on the other hand, are now no longer patent-protected, which can push the preclinical CRO market forward. However, the growing production of biosimilars and biologics can hinder the market growth in the coming years.
Segments Covered in the Report
MRFR in their report in the global preclinical CRO market segmented the market by service, therapeutic area, and end-user.
Based on the service, the preclinical CRO market can be segmented into bioanalysis and dystrophia myotonica protein kinase (DMPK) studies, toxicology testing, and others. The toxicology testing segment can lead the market over the forecast period as the rising demand for new drugs is spurring the new product testing.
Based on the therapeutic area, the preclinical CRO market can be segmented into cardiovascular diseases, oncology, diabetes, immunological disorders, infectious diseases, respiratory diseases, and others.
Based on the end user, the preclinical CRO market comprises pharmaceutical & biopharmaceutical industries, medical device companies, and others. Growth in biosimilar production and demand for new drugs can substantially promote the pharmaceutical & biopharmaceutical segment ahead.
Middle East. The regulatory body of the UAE is helping research and development sector by cooperating extensively which can ensure substantial growth during the forecast period.
Country Outlook (Revenue, USD Million, 2015 – 2026)
- Rest of Europe
- Australia & New Zealand
- Southeast Asia
- Rest of Asia-Pacific
Rest of the World
- Middle East
Notable players to grace the preclinical CRO market are PAREXEL International Corporation, Envigo, Charles River, IQVIA, ICON plc, Eurofins Scientific, PRA Health Sciences (PRA), Medpace, Laboratory Corporation of America Holdings, WuXi AppTec, Pharmaceutical Product Development, LLC, and MD Biosciences.
Wuxi PharmaTech’s entry in the San Diego market is now showing an increasing trend of relying on the Chinese giant for preclinical CRO needs. Chinese reform in regulations regarding foreign treatments is helping regional drug makers in licensing their product from the Chinese firm.
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