The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Oncology Based In-Vivo CRO Global Market Report 2024, the oncology-based in-vivo CRO market is expected to show significant growth in the forecast period.

The oncology-based in-vivo CRO market has witnessed robust growth, driven by factors such as increasing healthcare expenditure and innovations in cancer treatment. Valued at $1.27 billion in 2023, the market is projected to reach $1.38 billion in 2024, with a compound annual growth rate (CAGR) of 8.4%. This growth is expected to continue, reaching $2 billion by 2028, with a CAGR of 9.7%.

Driving Forces Behind Market Expansion
One of the key drivers of growth in the oncology-based in-vivo CRO market is the rising healthcare expenditure. As healthcare spending increases, there is a greater focus on oncology research and development, leading to the expansion of the CRO market. For example, in 2022, healthcare expenditure in Canada rose by 0.8% to $331 billion, highlighting the growing investment in healthcare.

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Innovations in In-Vivo CROs
Innovations in oncology-based in-vivo CROs are shaping the market landscape. Companies like Crown Bioscience are developing advanced solutions such as the 3D Ex Vivo Patient Tissue Platform. This platform uses phenotypic three-dimensional models of fresh patient tumors combined with high-content imaging analysis to improve the predictability of responses to immuno-oncology drug candidates. Such innovations are driving the development of more effective cancer treatments.

Strategic Acquisitions Driving Market Growth
Strategic acquisitions are also playing a significant role in the expansion of the oncology-based in-vivo CRO market. For example, ClinChoice Medical Development acquired Cromsource S.r.l., expanding its operational capabilities and data science technology offerings in Europe and the US. This acquisition highlights the importance of strategic partnerships in driving growth and expanding global presence.

Market Segmentation and Regional Outlook
The oncology-based in-vivo CRO market is segmented by indication, model, and application. North America is currently the largest region in the market, with significant growth expected in the Asia-Pacific region and other regions. The shift towards immuno-oncology therapies, increased focus on precision medicine, and the rise in oncology clinical trials are expected to drive market growth in the forecast period.

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