Preclinical CRO Market Growth, Scope, Trends Analysis and Forecast 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Preclinical CRO Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the preclinical CRO market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the Preclinical CRO Market?

What is Preclinical CRO?

A preclinical contract research organization (CRO) is a company that provides outsourced research services to the biotechnology, pharmaceutical, and medical device industries to help in the preclinical development stage of a product. This stage involves in vitro (test tube or cell culture) and in vivo (animal model) experiments to assess the safety and biological activity of a drug or medical device before it is tested in humans. Preclinical CROs provide a wide range of services including pharmacology services, toxicology testing (acute, sub-acute, and chronic toxicity tests), pharmacokinetic and absorption, distribution, metabolism, and excretion (ADME) studies, and bioanalytical testing. These services help clients determine whether a product is safe and effective and provide data to support the decision of whether to proceed to clinical trials. By outsourcing these services, companies can save time and resources, access specialized expertise and advanced technologies, increase flexibility, and better manage the risks associated with drug and medical device development. CROs must operate in compliance with regulatory guidelines such as good laboratory practice (GLP) to ensure the quality and reliability of preclinical data.

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What are the Growth Prospects and Trends in the Preclinical CRO Market?

The rising number of biotech startups and small and medium-sized enterprises (SMEs), particularly in emerging markets, is driving demand for contract research organization services which represents one of the key factors driving the growth of the market across the globe. These companies often lack the infrastructure and resources to conduct preclinical studies in-house. Preclinical contract research organizations increasingly rely on the expertise of contract research organizations as pharmaceutical and biotech companies increase their research and development (R&D) budgets to innovate and develop new drugs and therapies which is contributing to the growth of the market. Companies are outsourcing their preclinical studies to contract research organizations to reduce costs, improve efficiency, and access specialized expertise and technologies. This allows them to focus on their core competencies, such as drug discovery and development, which are fueling the growth of the market. The evolving and complex regulatory environment encourages companies to work with contract research organizations that are regulatory expertise and ensure compliance with good laboratory practice (GLP) and other standards.

Significant advances in drug discovery technologies and techniques, including personalized medicine and cell and gene therapies, are driving the need for specialized preclinical testing, which is a service that contract research organizations are well equipped to provide. As companies expand their clinical trials globally, they require the support of contract research organizations to manage studies across different regions, each with its unique regulatory requirements and patient populations. Apart from this, drug development is a high-risk venture, along with many potential compounds failing during preclinical and clinical testing. Moreover, outsourcing to a contract research organization allows companies to mitigate some of this risk which is further creating a positive outlook for the market across the globe.

Who are the Key Players Operating in the Preclinical CRO Industry?

The competitive landscape of the industry has also been examined along with the profiles of the 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.

What is Included in Market Segmentation?

The report has categorized the market based on service, end use and Region.

Breakup by Service:

• Bioanalysis and DMPK Studies
• Toxicology Testing
• Others

Based on End Use:

• Biopharmaceutical Companies
• Government and Academic Institutes
• Medical Device Companies

Regional Analysis:

• 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, South Africa, Others)

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.

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