The Business Research Company’s market reports offer an in-depth analysis on the market’s growth potential, major drivers, key trends and more.

Understanding the Market Dynamics

• Preclinical assets market has seen robust growth
• Expected growth from $5.32 billion in 2023 to $5.83 billion in 2024
• Compound annual growth rate (CAGR) of 9.7% attributed to various factors:
  • Drug development needs
  • Advancements in biotechnology
  • Regulatory requirements
  • Research funding growth
  • Collaborative research efforts

Future Outlook: A Promising Trajectory

• Forecasts suggest continued strong growth
• Expected to reach $8.34 billion in 2028
• CAGR of 9.3% fueled by:
  • Precision medicine and personalized therapies
  • AI and machine learning integration
  • Biobanking expansion
  • Focus on rare diseases
  • Government initiatives and funding

Read More On The Preclinical Assets Market Report 2024 – https://www.thebusinessresearchcompany.com/report/preclinical-assets-global-market-report

Embracing Innovation: Major Trends Ahead

• Emergence of advanced imaging techniques
• Utilization of 3D organoid models
• Integration of multi-omics data
• Enhanced predictive models
• Automation and high throughput screening

Increasing Drug Discovery

• Propelling growth of preclinical asset market
• Preclinical assets pivotal in drug discovery process
• Essential data aids in selection of clinical candidates
• Increasing number of drugs in R&D pipeline

Product Innovation: A Key Driver

• Companies focus on innovating new products
• Strengthen market position and gain competitive advantage
• Example: Charles River Laboratories and Valo Health partnership
  • Launched Logica, AI-powered drug solution
  • Translates biological insights into optimized preclinical assets

Pfizer Expands Portfolio With Biohaven’s Preclinical Assets

• Pfizer acquires Biohaven Pharmaceutical Holding Company Ltd.
• Acquisition for $11.6 billion
• Access to potential portfolio of CGRP receptor antagonists
• Includes preclinical CGRP assets

Market Segmentation

• By Service:
  • Bioanalysis and DMPK studies
  • Toxicology testing
  • Compound management
  • Safety pharmacology
  • Other services
• By Model Type:
  • Patient Derived Organoid (PDO) model
  • Patient Derived Xenograft (PDX) model
• By End User:
  • Biopharmaceutical companies
  • Government institutes
  • Other end-users

Regional Insights

• North America: Largest region in 2023
• Asia-Pacific: Expected to be fastest-growing region in forecast period

In conclusion, the preclinical assets market is poised for substantial growth driven by increasing drug discovery efforts, product innovations, and strategic acquisitions. With the rise of precision medicine, AI integration, and focus on rare diseases, the market presents numerous opportunities for stakeholders across various segments. As the industry continues to evolve, staying abreast of emerging trends and leveraging technological advancements will be crucial for sustained success in this dynamic landscape.

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