Preclinical CRO Market Outlook, Global Size, Share, Trends and Industry Statistics 2023-2028

The latest report published by IMARC Group, titled “Preclinical CRO Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.”, offers a comprehensive analysis of the industry, which comprises insights on the market trends. The report also includes competitor and regional analysis, and contemporary advancements in the market.

How Big is the Preclinical CRO Market?

The global preclinical CRO market size reached US$ 5.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.7 Billion by 2028, exhibiting a growth rate (CAGR) of 7.7% during 2023-2028.

What is Preclinical CRO Market?

A preclinical contract research organization (CRO) is a specialized entity that offers outsourced research services to pharmaceutical, biotechnology, and medical device companies for the purpose of drug and product development. These organizations are instrumental during the preclinical phase, a critical stage that precedes clinical trials involving human subjects. During this phase, the safety and efficacy of new compounds or medical products are tested in vitro (in a controlled environment outside of a living organism) and in vivo (on living organisms, usually laboratory animals). Preclinical CROs provide a comprehensive suite of services that may include pharmacology studies, toxicology testing, pharmacokinetics, and pharmacodynamics analysis, as well as data management and regulatory consultation.

Request a Free PDF Sample of the Report:
https://www.imarcgroup.com/preclinical-cro-market/requestsample

What Are the Growth Prospects and Trends in the Preclinical CRO Industry?

The increasing investment of pharmaceutical and biotechnology companies in research and development (R&D) activities represents one of the key factors driving the growth of the market across the globe. This rise in research and development (R&D) budgets drives the demand for preclinical studies, and hence, for specialized CRO services. The stringent regulations around drug development necessitate comprehensive preclinical testing to ensure safety and efficacy. Complying with these complex regulatory frameworks often requires specialized expertise, which CROs provide. By outsourcing preclinical activities, pharmaceutical companies concentrate on their core competencies, such as drug formulation and marketing, which optimizes their operations. Progress in fields like genomics, proteomics, and bioinformatics is leading to more complex testing procedures. CROs equipped with the latest technologies offer advanced services that in-house laboratories might not be able to provide.

Many CROs offer international services, including knowledge of regional regulations, which facilitates a more streamlined global strategy. As medical science advances, the complexity of drug compounds and the diseases they aim to treat increases. Specialized CROs have the capability to handle this complexity more effectively than generalized research setups. Many pharmaceutical companies form long-term partnerships with CROs, providing a steady revenue stream for the CRO and fostering innovation through collaborative efforts which is creating a positive outlook for the market across the globe.


Key Market Segmentation:

The report has segmented the global preclinical CRO market based on service, end use and region.

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
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape With Key Players:

The competitive landscape of the Preclinical CRO Market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • 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

Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=3715&flag=C

Key Highlights of The Report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • 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.

About Us

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.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Media Contact:
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: sales@imarcgroup.com
Phone: +1-631-791-1145
Address: 134 N 4th St
City: Brooklyn
State: NY
Country: United States
Website: https://www.imarcgroup.com/

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