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

According to The Business Research Company’s Preclinical CRO Global Market Report 2024, the preclinical CRO market is expected to show promising growth in the forecast period.`

1. The Rising Trajectory of the Preclinical CRO Market

• The preclinical CRO market has experienced robust growth, rising from $5.15 billion in 2023 to an anticipated $5.66 billion in 2024, reflecting a CAGR of 9.9%.
• Historic growth drivers include the demand for expedited drug development, cost containment strategies, and regulatory compliance requirements.
• Globalization of clinical trials and a focus on core competencies have also fueled market expansion.

2. Projected Growth and Contributing Factors

• Forecasts suggest continued strong growth, with the market expected to reach $7.94 billion by 2028, boasting a CAGR of 8.8%.
• Anticipated growth drivers in the forecast period include personalized medicine, rare disease treatments, and increased outsourcing in biopharmaceuticals.
• Emphasis on biomarker research and the need for real-world evidence generation are expected to further fuel market expansion.

3. Surging Demand For Preclinical Trials Drives Growth

• Preclinical trials serve as a pivotal stage in drug development, ensuring safety and efficacy before human trials commence.
• The increasing emphasis on drug safety and efficacy has led to a rise in demand for preclinical trials, underscoring the market’s growth.
• Key players in the preclinical CRO market include Eurofins Scientific SE, PRA Health Sciences Inc., and Wuxi AppTec Co. Ltd.

View More On The Preclinical CRO Market Report 2024 – https://www.thebusinessresearchcompany.com/report/preclinical-cro-global-market-report

4. Revolutionizing Preclinical Drug Discovery

• Technological advancements are reshaping preclinical drug discovery, with companies leveraging AI and machine learning for accelerated research.
• BenchSci’s ASCEND platform exemplifies the integration of AI into preclinical R&D, expediting drug development pipelines.
• Innovation remains a driving force behind market growth, with companies adopting cutting-edge technologies to maintain competitiveness.

5. Asahi Kasei Medical’s Strategic Acquisition

• Asahi Kasei Medical’s acquisition of Bionova Scientific LLC underscores the industry’s consolidation and expansion efforts.
• The acquisition enhances Asahi Kasei Medical’s bioprocess portfolio, positioning it to cater to a broader customer base.
• Bionova Scientific’s expertise in contract process development and GMP-compliant manufacturing strengthens Asahi Kasei Medical’s market position.

6. Market Segmentation and Regional Dynamics

• The preclinical CRO market is segmented by service, type, animal model, model system, and end-user.
• Service offerings include bioanalysis, DMPK studies, toxicology testing, and compound management, among others.
• North America leads the market, with Asia-Pacific projected to witness the fastest growth during the forecast period.

Conclusion

• The preclinical CRO market is poised for significant expansion, driven by technological innovation, rising demand for preclinical trials, and strategic acquisitions.
• As the industry continues to evolve, stakeholders must remain agile and adaptive to capitalize on emerging opportunities and navigate evolving market dynamics.
• Collaboration, innovation, and a focus on delivering value-driven solutions will be critical for sustained growth and success in the dynamic preclinical CRO landscape.

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