Global Preclinical CRO Market Overview
Preclinical CRO Market Size was valued at USD 10.47 Billion in 2023. The Global Preclinical CRO industry is projected to grow from USD 11.24 Billion in 2024 to USD 20.06 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.50% during the forecast period (2024 - 2032).A preclinical CRO brings the knowledge, experience, and skill essential to take a medical product or device from its clinical-stage to selling and distribution.
In June 2024, IQVIA has announced IQVIA Synthetics, a new AI-powered platform. This platform employs powerful machine learning algorithms to improve the analysis of clinical trial data, prediction accuracy, and patient recruiting techniques.
In July 2024, PAREXEL announced PAREXEL Insight, a new digital solution that uses blockchain technology to improve the integrity and traceability of preclinical data, hence assuring data security and compliance.
November 2023: Crown Bioscience, a worldwide contract research organization (CRO) and subsidiary of JSR Life Sciences, has recently introduced a pioneering service called OrganoidXploreTM. This high-throughput organoid screening platform offers reliable, consistent, and medically significant results at an unprecedented rate, speeding up the process of discovering anticancer drugs in preclinical stages. It empowers researchers and transforms the field of cancer treatment development. Crown Bioscience's assay-ready (AR) organoid technology allows for the screening of a wide range of patient-derived organoids. The papers showcased at the AACR annual meeting and ANE international conference 2023 illustrate the efficacy of assay-ready organoids compared to freshly manufactured organoids, which follow the conventional process. OrganoidXplore surpasses conventional 2D cell culture systems in terms of its applicability to patients, representing a major advancement in preclinical drug screening. Researchers may now test against a wide range of predictive models by faithfully reproducing the genetic, morphological, and pathophysiological characteristics of genuine tumors. Results can be provided in a significantly shorter time period of only six weeks, increasing research speed by a factor of three and relying on the reliability and repeatability of its superior assay-ready technology.
COVID-19 Analysis With the present COVID-19 pandemic calamity, the world is conscious of life-saving drugs' criticality developed and rapidly brought to market. The drugs being brought to market result from a close partnership with the sponsor company, which works with a clinical research organization (CRO) that manages the clinical trials. Several drugs go through various development phases from the concept to the commercialization stage. A suitable CRO is deemed invaluable in the situation, especially to a sponsor company in its search to bring a novel drug to market. A poor performing CRO can cause a new drug's regulatory approval to be denied or delayed. As SARS-CoV-2 persists in its spread globally, several players are dedicated to arranging support for uncovering an active immune and prophylactic plan to back the biotech, pharmaceutical, and academic groups in advancing anti-viral medication and vaccines against SARS-CoV-2.
Preclinical CRO Market Trends
Drivers
Growth In Outsourcing Of Non-Core Function
The need to focus on core functions is projected to lead to an increased offloading of non-essential activities, thus boosting the preclinical CRO market growth.
Enhanced Abilities Of Preclinical Cros To Offer Additional Value-Added Services
The diversification and advancement of the additional value-added services is predicted to give the preclinical CRO market revenue a boost in the future.
Surging Number Of Drugs In The Preclinical Phase
The burgeoning volume of products in the preclinical testing phase is predicted to enhance the forthcoming period's preclinical CRO market size.
Economies Of Production And Scale
The ability to easily reach economies of production and scale is estimated to work out in favor of the market of preclinical CRO in the impending period.
Opportunities
Opportunity For Medical Device Companies To Outsource Preclinical Trials
The demand for medical device testing has risen incrementally over the past few years, which is foreseen to be outsourced to preclinical CROs, thus motivating the global market in recent years.
Challenges
Scarcity Of Labour And High Labour Cost
The shortage of labor that is specialized related to requirements to the sector is estimated to create a restriction on the overall growth.
Structural Changes In The Industry
The changes in the market's overall structure are estimated to reduce the momentum for the market of preclinical CRO development in the near future.
Preclinical CRO Market Segment Insights
Preclinical CRO Service Insights
The toxicology testing segment is anticipated to spearhead the market of preclinical CRO and record a considerable CAGR during the forecast period. Growing demand for new drugs and chemicals and dynamic development in the biopharmaceutical and pharmaceutical sectors is anticipated to drive the preclinical CRO market growth. The bioanalysis and drug metabolism and pharmacokinetics (DMPK) studies segment is anticipated to show a peak CAGR by 2032.
Preclinical CRO Application Insights
Oncology is likely to appear as the leading segment in the forthcoming period.
Preclinical CRO End-User Insights
The pharmaceutical and biopharmaceutical industries segment is foreseen to create an impetus for market growth of preclinical CRO in the future.
Preclinical CRO Regional Insights
Americas To Exert Dominance On Global Market
The Americas regional market for preclinical CROs was the preclinical CRO's prime market in 2018 and is expected to continue its strong influence throughout the review period.
European Regional Market Shows Market
The European regional market reported a vital stake and is projected to be the second-largest market during the forecast period. The snowballing outsourcing undertakings in Europe are driving the market development of the preclinical CRO region's. Germany reported for the principal market portion of 24.7% in 2018, and the national-level market is anticipated to touch a CAGR of 6.69% throughout the forecast period.
Preclinical CRO Market Competitive Landscape
The foremost players in the market of Preclinical CRO are
- IQVIA (U.S.),
- PAREXEL International Corporation (U.S.),
- Envigo (U.S.),
- Charles River (U.S.),
- Eurofins Scientific (Luxembourg),
- ICON PLC (Dublin),
- PRA Health Sciences (U.S.),
- Medpace (U.S.),
- Laboratory Corporation of America Holdings (U.S.),
- Pharmaceutical Product Development, LLC (U.S.),
- WuXi AppTec (China)
- D. Biosciences (U.S.)
Recent Developments
Jan 2021 Charles River Labs, a major CRO specializing in preclinical research programs, has inked a new invention pact as the role of a sequence of deals over the previous years. Charles River bought antibody discovery company disseminated Bio for up to USD104 million; the companies declared recently, a figure that includes USD 83 million in forthright cash. The other USD 21 million in the deal is set aside for future performance payments. With the procurement, Charles River hopes to achieve the goal of removing an additional year from our clients' early-stage development timelines.
Dec 2020 Mountain Valley MD Holdings Inc. has filed for a fast-tracked appraisal of its macrocyclic lactone solubilization patent with the United States Patent and Trademark Office (USPTO). Mountain Valley MD beforehand established its capability to prepare the anti-parasitic drug Ivermectin very water-soluble without using organic solvents, refining its water solubility by closely 5,000 times it had accomplished its preliminary safety and improved effectiveness in preclinical authentication with the foremost third-party preclinical CRO.
Jan 2021 Editas Medicine, Inca leading genome editing firm, revealed the U.S. Food and Drug Administration (FDA) had cleared the beginning of the safety stage of the Company's EDIT-301 clinical trial, and the company can begin medicating patients. The company must develop and propose to the FDA an improved potency assay before registering in the RUBY trial's effectiveness stage. The firm has recognized a principal researcher and involved a Clinical Research Organization (CRO).
Jan 2021 Explora BioLabs, a preclinical vivarium, husbandry, and research space supplier, will present its first East Coast facility in Boston in mid-2021. The novel Explora facility will deliver the Boston biotech sector with an entirely administered, off-site research facility with an approach to crucial adjacent preclinical services and professional staff to support client research. The area will allow researchers to concentrate on their work while Explora handles all of the in vivo running, logistics, and compliance necessities.
Sep 2020 Viva Biotech is investing down USD 80 million to purchase preclinical contract research organization SYNthesis and lift its outsourcing business. Hong Kong-based SYNthesis is a preclinical small-molecule drug discovery service contract organization offering synthetic chemistry and pharmaceutical chemistry services to its clients. It will now come under Shanghai-based Viva Biotech's patronage, an integrated drug discovery platform dedicated to preclinical-stage innovative drug development, covering the full range of our customers' requirements for early-stage drug discovery.
Preclinical CRO Market Segmentation
Preclinical CRO Service Outlook
Preclinical CRO Application Outlook
Preclinical CRO End-User Outlook
| Report Attribute/Metric |
Details |
| Market Size |
USD 20.06 Billion |
| CAGR |
7.50% |
| Base Year |
2023 |
| Forecast Period |
2024-2032 |
| Historical Data |
2020 |
| Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Service, Application, End User |
| Geographies Covered |
North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors |
IQVIA (US), PAREXEL International Corporation (US), Envigo (US), Charles River (US), Eurofins Scientific (Luxembourg), ICON PLC (Dublin), PRA Health Sciences (US), Medpace (US), Laboratory Corporation of America Holdings (US), Pharmaceutical Product Development, LLC (US), WuXi AppTec (China), MD Biosciences (US) |
| Key Market Opportunities |
Opportunity For Medical Device Companies To Outsource Preclinical Trials |
| Key Market Drivers |
· Growth In Outsourcing Of Non-Core Function· Enhanced Abilities Of Preclinical Cros To Offer Additional Value-Added Services· Surging Number Of Drugs In The Preclinical Phase· Economies Of Production And Scale |
Preclinical CRO Market Highlights:
Frequently Asked Questions (FAQ) :
Service and Application are leading segment
Preclinical CRO Market is expected to reach a valuation of USD 20.06 billion by 2032.
Preclinical CRO Market is expected to exhibit a strong 7.50% CAGR over the forecast period.
The growing demand for outsourcing non-core functions in the pharmaceutical industry is the major driver for the global preclinical CRO market.
The Americas hold the dominant share in the global preclinical CRO market, accounting for more than 40% of the market in 2018.
Toxicology testing holds the highest share in the global preclinical CRO market.
