Preclinical CRO Market (By Service: Bioanalysis & DMPK Studies, Toxicology Testing, Others; By End Use: Biopharmaceutical Companies, Government & Academic Institute, Medical Device Companies) – Global Industry Analysis, Market Size, Opportunities And Forecast, 2020 - 2027

Category : Healthcare and Pharmaceuticals | Delivery Format : PDF | Status: Published | Pages : 190

The global preclinical CRO market is anticipated to grow at a CAGR of around 9.0% during the forecast period 2020 to 2027 and to reach around US$ 8.2 Bn by 2027.

Market Dynamics

Substantial increase in activities related to drug discovery and increasing government expenditure on healthcare sector are major factors expected to drive the growth of global market. Government of developed and developing countries such as US, China, Japan, India, and others are spending high in the development of healthcare sector its focus on development of novel drugs is increasing due to rise in patients suffering from chronic diseases. PhRMA member companies have invested nearly US$ 1 trillion in R&D since 2000, establishing the biopharmaceutical sector as the most R&D-intensive industry in the U.S. economy. The U.S. biopharmaceutical industry has been the world leader in development of new medicines and PhRMA member companies continue to be at the forefront.

The entire biopharmaceutical industry invested an estimated US$ 102 billion in research and development (R&D) in 2018. Approximately 7,000 rare diseases exist today yet only 5% have an available treatment. Nearly 260 vaccines are in the biopharmaceutical pipeline to treat and prevent disease including dozens for COVID-19. Increasing collaborative work approach among public and government for development of novel products is expected to impact the growth of preclinical CRO market. In addition, increasing merger & acquisition activities by major players in order to enhance the business and increase the customer bases is expected to boost the growth of preclinical CRO market.

In 2019, WuXi AppTec a global pharmaceutical player acquired Pharmapace, Inc. a U.S. based clinical research services company. The acquisition was focused on company’s core biometrics competencies and integrated with WuXi Clinical’s other clinical development services. This helped the company to increase the revenue share.

In 2018, Admescope Ltd a global service provider of absorption, distribution, metabolism, and excretion (ADME) and toxicology acquired MetaSafe that focuses on metabolite identification studies during drug development. This acquisition helped the company to enhance the service portfolio.

In 2018, Frontage Laboratories Inc. a global CRO acquired Concord Biosciences a preclinical CRO with the focus to enhance the product portfolio. The acquisition supported the company in pharmaceutical, agricultural, chemical and animal health industries with

Drug Safety, Metabolism, Bioanalytical, Residue and Environmental Fate studies.

Factors such as stringent government regulations related to preclinical and high cost associated to R&D are expected to hamper the growth of global preclinical CRO market. In addition, lack of developed infrastructure in developing countries restraining the R&D activities is expected to challenge the growth of target market. However, high investment by the government for R&D activities, and major players focus on increasing the preclinical trials are factors expected to create new opportunities for players operating in the global preclinical CRO market. In addition, inclination towards strategic partnership between regional and public players is expected to revenue support the growth of target market.

Segment Analysis by Region

The market in North America is expected to account for major revenue share in the global preclinical CRO market due to high government spending. In addition, increasing clinical trial in the country for development of novel solutions is expected to support the market growth. Only 12% of new molecular entities that enter clinical trials eventually receive U.S. Food and Drug Administration (FDA) approval.

The market in Asia Pacific is expected to witness faster growth in the target market due to flourishing healthcare sector. In addition, presence of large number of players operating in the countries such as China and India and introduction of new drugs is expected to augment the regional market growth.

Competitive Landscape

The global market is high competition due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

Market

Global Preclinical CRO Market

Analysis Period

2016 – 2027

Base Year

2019

Forecast Data

2020 – 2027

Market Stratification

Service, End-Use and Geography

Regional Scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Report Coverage

Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis


Preclinical CRO Market Segment Analysis, 2019

The global preclinical CRO market is segmented into service and end-use. The service segment is bifurcated into Bioanalysis & DMPK studies, toxicology testing, and others. Among types of service, the toxicology testing segment is expected to account for major revenue share in the global preclinical CRO market. The end-user segment is divided into biopharmaceutical companies, government & academic institute, and medical device companies. Among the end-use, the biopharmaceutical companies segment is expected to account for major revenue share in the target market. Players operating in the global preclinical CRO market are ICON plc, Laboratory Corporation of America Holding, Medpace Inc, Pharmaceutical Product Development LLC (PPD), PRA Health Science, WuXi AppTec, Eurofins Scientific, Parexel International Corporation, Charles River Laboratories (MPI Research), Envigo Corporation.

Market Segmentation

Market By Service

Bioanalysis & DMPK studies
Toxicology testing
Others

Market By End Use

Biopharmaceutical companies
Government & academic institute
Medical device companies

Market By Geography

North America

  • U.S.
  • Canada

Europe

  • U.K.
  • Germany
  • France
  • Spain
  • Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East & Africa

  • GCC
  • South Africa
  • Rest of Middle East & Africa


Frequently Asked Questions

The global preclinical CROs market in 2027 is expected to be above US$ 8.2 Bn.

The CAGR of the global preclinical CROs market from 2020-2027 is above 9.0%.

Substantial increase in activities related to drug discovery and increasing government expenditure on healthcare sector are major factors expected to drive the growth of global market.

In service the toxicology testing segment is growing at faster pace.

In the global market the Asia Pacific region is expected to grow faster.

Some of the players considered in the report scope are ICON plc, Laboratory Corporation of America Holding, Medpace Inc, Pharmaceutical Product Development LLC (PPD), and PRA Health Science.

The North America is expected to account for major revenue share in the global market.

Cart Summary


60