Key Insights into the Preclinical CRO Market’s Growth Opportunities for 2024-2033
Save up to 30% on The Business Research Company’s comprehensive market research reports for a limited time only!
What is the Estimated Growth Rate for the Preclinical CRO Market Between 2024 and 2033?
The preclinical CRO market has seen substantial growth in past years. The market size, which was projected at $5.15 billion in 2023, is expected to increase to $5.66 billion in 2024, thanks to a compound annual growth rate (CAGR) of 9.9%. Several factors contributed to this growth during the historic period, including the need for speedier drug development, cost-cutting strategies, emphasis on core skills, meeting regulatory compliance requirements, and the globalization of clinical trials.
Expectations are high for robust expansion in the preclinical CRO market size in the coming years. It’s projected to reach $7.94 billion by 2028, growing at a compound annual growth rate (CAGR) of 8.8%. The growth anticipated during this forecast period is linked to the surge in personalized medicine, the focus on rare ailments and orphan drugs, an uptick in outsourcing in the biopharmaceutical sector, as well as intensified biomarker research and the requirement for real-world evidence generation. Key trends expected to emerge during the forecast period are the incorporation of artificial intelligence (AI), broader oncology research, progress in omics technologies, advancements in in vitro and in vivo models, as well as collaborations in translational research.
Claim Your Free Sample of the Global Preclinical CRO Market Report Today!
https://www.thebusinessresearchcompany.com/sample.aspx?id=10303&type=smp
What Are the Primary Contributors to the Growth of the preclinical cro Market?
The preclinical CRO market is poised for growth, driven by the rising demand for preclinical trials. Preclinical trials, which are studies conducted on medicine or treatment methods before they are tested on human volunteers, play a pivotal role in drug development. They often involve new medical equipment, prescribed drugs, and diagnostics. The principal goals are to determine a safe starting dose for human research and assess possible toxicity levels of the product. As the focus on the safety and efficacy of new drugs intensifies, the significance of preclinical trials is also escalating. For instance, the National Library of Medicine in the US reported that by December 2021, 399,501 preclinical studies were carried out and by the close of 2022, a total of 437,536 preclinical trials were completed. Consequently, this surge in demand for preclinical trials is a significant driver for the growth of the preclinical CRO market.
Which Key Segments Comprise the Preclinical CRO Market?
1) By Service: Bioanalysis And DMPK Studies, Toxicology Testing, Compound Management, Chemistry, Safety Pharmacology, Others Services
2) By Type: Patient Derived Organoid (PDO) Model, Patient Derived Xenograft Model
3) By Animal Model: Small Animal Model, Large Animal Model
4) By Model System: In Vivo, In Vitro
5) By End User: Biopharmaceutical Companies, Government And Academic Institutes, Medical Device Companies, Other End-users
What Are the Key Trends Reshaping the Preclinical CRO Market?
Technological innovations are emerging as a significant trend in the preclinical CRO market. To maintain their market dominance, prominent companies in the preclinical CRO market are harnessing these new technologies. For example, in February 2023, BenchSci, a Canadian company leading in AI solutions for preclinical R&D, introduced ASCEND, a comprehensive SaaS (software as a service) platform for preclinical drug discovery. Utilizing this method allows for a greater understanding of the fundamental disease mechanisms and accelerates the preclinical phase of drug development. ASCEND applies BenchSci’s machine learning technology to extract experimental data from both secure internal and public external sources. The platform uses curated ontology datasets to contrast experimental outcomes. Consequently, the software can generate an evidence-based map of the biological processes behind different diseases.
Order Now for Fast Delivery of Your Preclinical CRO Market Report!
https://www.thebusinessresearchcompany.com/report/preclinical-cro-global-market-report
What Are the Top Regions Fueling Growth in the Preclinical CRO Market?
North America was the largest region in the preclinical CRO market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global preclinical CRO market during the forecast period. The regions covered in the preclinical cro market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Preclinical CRO Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the preclinical cro market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Preclinical CRO Market Include
1. Preclinical CRO Market Executive Summary
2. Preclinical CRO Market Segments
3. Preclinical CRO Market Size And Template Market Growth Rate
4. Key Preclinical CRO Market Trends
5. Major Preclinical CRO Market Drivers
……
25. Key Mergers And Acquisitions In The Preclinical CRO Market
26. Top Preclinical CRO Companies
27. Preclinical CRO Market Opportunities And Strategies
28. Preclinical CRO Market, Conclusions And Recommendations
29. Appendix
Discover Related Reports by The Business Research Company:
Industrial Controls Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/industrial-controls-global-market-report
Warehouse Automation Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/warehouse-automation-global-market-report
Industrial Process Variable Instruments Global Market Report 2024
Learn More About The Business Research Company
The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on:
