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What Is The Predicted Market Size Of The Preclinical Assets Industry By 2029?
The market size for preclinical assets has been expanding robustly in the past few years. It is expected to increase from $5.87 billion in 2024 to $6.38 billion in 2025, with a compound annual growth rate (CAGR) of 8.8%. Factors contributing to the growth during the historical period include the needs for drug development, advances in biotechnology, regulatory mandates, the expansion of research financing, and collaborative investigation initiatives.
Anticipations of robust expansion surround the preclinical assets market, with its valuation projected to hit $9.28 billion by 2029, thanks to a compound annual growth rate (CAGR) of 9.8%. The forecast period’s augmentation is linked to factors such as precision medicine, personalized treatments, AI integration with machine learning, the growth of biobanking, focus on undiscovered diseases, as well as government efforts and funding. Upcoming trends throughout the forecasting period incorporate the rise of advanced imaging methods, 3D organoid models, the amalgamation of multi-omics, improved predictive models, automation, and high throughput screening.
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Which Growth Drivers Are Shaping The Preclinical Assets Market Outlook?
The surge in drug discovery is anticipated to fuel the expansion of the preclinical asset market. This process involves searching for chemical substances with potential medicinal use, thereby leading to the discovery of new potential drugs. Preclinical assets are critical in this process because they provide crucial data and evidence for choosing molecules to move forward in clinical development. For example, in June 2023, the European Federation of Pharmaceutical Industries and Associations (EFPIA), a Belgium-based representative of the pharmaceutical sector, reported significant growth in European pharmaceutical production. The production increased from $352.48 billion in 2021 to $369.95 billion in 2022. Consequently, the growth in drug discovery is significantly contributing to the expansion of the preclinical assets market.
How Is The Global Preclinical Assets Market Broken Down By Segment?
The preclinical assetsmarket covered in this report is segmented –
1) By Service: Bioanalysis And DMPK (Drug Metabolism And Pharmacokinetic) Studies; Toxicology Testing; Compound Management; Safety Pharmacology; Other Services
2) By Model Type: Patient Derived Organoid (PDO) Model; Patient Derived Xenograft Model
3) By End User: Biopharmaceutical Companies; Government Institutes; Other End-Users
Subsegments:
1) By Bioanalysis And DMPK (Drug Metabolism And Pharmacokinetic) Studies: Pharmacokinetics (PK) Studies; Pharmacodynamics (PD) Studies; Bioanalytical Method Development
2) By Toxicology Testing: Acute Toxicity Testing; Chronic Toxicity Testing; Genotoxicity Testing; Carcinogenicity Testing
3) By Compound Management: Compound Library Management; Sample Storage And Retrieval; High-Throughput Screening Support
4) By Safety Pharmacology: Cardiovascular Safety Assessments; Neurotoxicity Evaluations; Respiratory Safety Evaluations
5) By Other Services: Regulatory Support; Preclinical Study Design And Consulting; Custom Assay Development
Which Trends Are Likely To Redefine Growth Paths In The Preclinical Assets Market?
The escalating popularity of product innovations is a significant trend in the preclinical assets market. Major firms in this sector are prioritizing the creation of novel products and solutions as a means to consolidate their market standing and establish a competitive edge. For instance, in April 2022, US-based pharmaceutical company Charles River Laboratories International, known for its expertise in various preclinical and clinical laboratories, and US-based tech company Valo Health Inc., renowned for transforming drug discovery, launched an AI-driven drug solution named Logica. This solution efficiently turns client’s biological insights into refined preclinical assets by leveraging the advanced preclinical knowledge of Charles River and Valo’s AI-backed Opal Computational Platform. This association with Valo enables Charles River to amalgamate its laboratory skills with molecular design technology, thereby revolutionizing the industry and providing its clients with top-tier leads and candidates, all while linking client expenses to value creation.
Who Are The Primary Market Leaders In The Preclinical Assets Market?
Major companies operating in the preclinical assets market include Laboratory Corporation of America, IQVIA Inc., ICON PLC, Eurofins Scientific SE, PPD Inc., SGS SA, WuXi AppTec Co. Ltd., Intertrek Group PLC, Charles River Laboratories International Inc., Medpace Inc., Pharmaron Beijing Co. Ltd., Evotec SE, GenScript Biotech Corporation, Inotiv Inc., SRI International Inc., Shanghai Medicilon Inc., Biocytogen Pharmaceuticals Beijing Co. Ltd., AmplifyBio LLC, BioReliance Corporation, Pharmalegacy Laboratories Co. Ltd., Precigen Inc., ReproCELL Incorporated, InSphero AG, Crown Bioscience Inc., Comparative Biosciences Inc., TCG Lifesciences Pvt. Ltd., InVivo Biosystems, Pharmatest Services Ltd, Domainex Limited, Viroclinics Xplore
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Which Regional Markets Are Emerging As Key Hubs For The Preclinical Assets Market?
North America was the largest region in the preclinical assets market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the preclinical assets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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