Preclinical CRO Market Growth Rate Analysis 2021 to 2027

Preclinical CRO Market Growth Rate Analysis 2021 to 2027

The global preclinical CRO industry is estimated to record lucrative growth through the coming years, owing to the rising number of collaborative strategies by prominent industry participants. Considering an instance, in January 2021, Genesis Biotechnology Group along with its CRO arm, Genesis Drug Discovery & Development (GD3), acquired STATKING Clinical Services, a CRO based in Cincinnati.

As stated by GBG CEO, Eli Mordechai, Ph.D., STATKING’s takeover strengthens the company’s strategic presence and services through the entire life cycle of the process of drug development. She further stated that STATKING has secured remarkable milestones in the 30 years of its service, and the company looks ahead towards an exciting future with the organization.

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Such advancements are expected to drive the demand for preclinical CRO services through the forecasted period. The global preclinical CRO market size is projected to surpass USD 7.8 billion by 2027, cites the latest research by Global Market Insights, Inc.

This rise is mainly attributed to the increase in research and development expenditure and the rising number of drugs in the preclinical stage. The pharmaceutical and biopharmaceutical industry is recorded to have one of the largest research and development expenses at the global level.

A surge in the outsourcing of R&D activities coupled with an increase in research practices will foster the growth of the government and academic institutes segment over the forecasted period. The segment is expected to register an appreciable growth of 5.6 per cent over 2021-2027.

Government and academic institutes provide access to diagnosis and treatments under preclinical trials. This is expected to benefit numerous CROs for the identification of the treatment, diagnosis as well as prevention, further boosting the demand for preclinical CRO services over the anticipated period.

Eminent preclinical CRO companies are focusing on product developments for consolidating market share and enhancing their geographical footprint.

Considering an instance, in February 2018, Charles River Laboratories acquired a non-clinical research organization, MPI Research, that offers inclusive testing services. This acquisition allowed the company to extend early-stage contract research offerings for biopharmaceutical and medical device industries.

Prominent preclinical CRO companies comprise Pharmaceutical Product Development, Charles River Laboratories, Envigo, Laboratory Corporation of America Holdings, and others.

Toxicology studies are of key importance in the preclinical stage given that they help in the characterization and identification of toxicities for the prediction of adverse events. The toxicology testing service segment held a valuation of USD 1.7 billion.

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These tests are used for recording the toxicity outline of a drug by detecting its impact on organ functionality or structure and also provide crucial data associated with long-term protection.

On the whole, enhanced efficiency coupled with the requirement for reduction in the costs of research activities will augment preclinical CRO market size through the assessment span.

Partial Chapter of the Table of Content:

Chapter 2   Executive Summary

2.1    Preclinical CRO industry 360° synopsis, 2016 - 2027

2.1.1    Business trends

2.1.2    Service trends

2.1.3    End-use trends

2.1.4    Regional trends

Chapter 3   Preclinical CRO Industry Insights

3.1    Industry segmentation

3.2    Industry landscape, 2016 - 2027

3.3    Industry impact forces

3.3.1    Growth drivers    Increasing R&D expenditure worldwide    Growing outsourcing of R&D activities    Rising number of drugs in preclinical trails

3.3.2    Industry pitfalls & challenges    Stringent regulatory policies

3.4    Growth potential analysis

3.4.1    By service

3.4.2    By end-use

3.5    Porter’s analysis

3.6    Competitive landscape

3.6.1    Company matrix analysis

3.7    PESTEL analysis

Chapter 4   Preclinical CRO Market, By Service

4.1    Key segment trends

4.2    Bioanalysis & DMPK studies

4.2.1    Market size, by region, 2016 - 2027 (USD Million)

4.3    Toxicology testing

4.3.1    Market size, by region, 2016 - 2027 (USD Million)

4.4    Others

4.4.1    Market size, by region, 2016 - 2027 (USD Million)

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