preclinical CRO market share by applications and regions for 2021- 2027

1
Preclinical CRO market trends research and
projections for 2021- 2027

• A research study conducted by Global Market
  Insights, Inc., suggests that preclinical CRO
  market is likely to exceed the 7.8 billion mark
  by 2027, in terms of revenue. Rise in number of
  drug development activities and growing RD
  expenditure in the healthcare sector is expected
  to drive the preclinical CRO market growth over
  the forthcoming years.
• Rise in number of drug development activities and
  growing RD expenditure in the healthcare sector
  is expected to drive the preclinical CRO market
  growth over the forthcoming years. The
  biopharmaceutical and pharmaceutical industry is
  spending heavily on clinical RD.
• High expenditure associated with such activities
  have encouraged companies to opt for outsourced
  preclinical services. The need for deduction in
  cost and improved productivity builds in further
  interest in choosing outsourcing or contract
  research organizations, instigating preclinical
  CRO market development.

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Rights Reserved
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2
Market Segmentation-

• As per service type, the preclinical CRO industry
  is classified into DMPK and bioanalysis studies,
  toxicology testing, and others. The toxicology
  testing service segment accounted for USD 1.7
  billion of the total market revenue. Toxicity
  studies include testing of toxicity outline of a
  drug by sensing its effect on functionality or on
  organ structure.

• The preclinical CRO segment is bifurcated into
  government academic institutes, medical device
  companies, biopharmaceutical companies, and
  others based on end-use. The government and
  academic institutes will show lucrative growth of
  5.6 between 2021 to 2027 owing to the growing
  number of outsourcing research activities to
  academic institutes.

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• Regional Analysis

• The Preclinical CRO market of Asia Pacific is
  expected to grow at a significant pace of 8.6
  during the forecast timeframe. Increasing
  prevalence of chronic diseases such as cancer,
  diabetes, and cardiac diseases is the reason for
  high growth rate in the region. Ongoing
  preclinical trials in oncology and the increased
  number of investigational compounds will pave the
  way for the growth of preclinical CRO business
  size in the coming years.

• Competitive Analysis

• Some of the major companies functioning in the
  preclinical CRO market include Envigo, Laboratory
  Corporation of America Holdings, Charles River
  Laboratories, and Pharmaceutical Product
  Development among others. Industry players are
  taking part in strategic initiatives like
  new/innovative product launches, mergers,
  acquisitions, and business expansion.

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