Preclinical CRO Market Size Worth USD 9.6 Billion By 2030

The global preclinical CRO market size is forecasted to be worth over from US$ 4.9 billion in 2021 to US$ 9.6 billion by 2030, growing at a CAGR of 7.5 from 2021 to 2030, as per reports by market research and consulting organization Precedence Research.

The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030. The preclinical CRO market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit). The report offers exclusive insights to help companies make informed decisions to sustain growth through the assessment period.

The global preclinical CRO market is primarily driven by the rapid growth of the pharmaceutical and the medical devices companies. The rising burden of numerous chronic diseases along with the increasing need for their diagnosis, prevention, and treatment related drugs and devices is significantly driving the market. The various biopharmaceutical companies and academic institutions areincreasingly investing and outsourcing the preclinical studies activities to the CROs owing to the increasing need for the development of new and innovative medicines. The favorable government policies regarding the development of preclinical studies of various diseases and its cure are driving the demand for the preclinical CRO services across the globe.

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The recent outbreak of the COVID-19 pandemic compelled the pharmaceutical industry players and research institutions to infuse investments in the CROs to conduct the research activities regarding the COVID-19 virus. Therefore, rising investments in the preclinical CROs by various stakeholders is expected to drive the growth of the global preclinical CRO market.

Competitive Intelligence

The report provides an understanding of the market composition and explains the role of established players and regional contributors. It is essential for the market players to make calculative moves and focus on client acquisition and retention. The detailed company profiles will provide the necessary intelligence to the reader. In order to maintain their share, the market players are focusing on strategies such as cross-border expansion, product differentiation and so on.

The rapidly growing number of biopharmaceutical companies across the globe, especially in the developed and developing regions is deriving the demand for the preclinical CRO services. Mostly, the small and the medium sized biopharmaceutical enterprises has low resources and expertise to conduct preclinical studies and hence, they are increasingly outsourcing this tasks to the preclinical CROs, which in turn, boosts the growth of the preclinical CRO market across the globe. In this way the rising number of biopharmaceutical companies are positively impacting the market.

The rising burden of diseases is boosting the demand for various medical devices and diagnosis equipment that can provide fast and accurate results and re non-invasive. Therefore, rising investments by the medical device companies in the preclinical CRO services is another major factors that plays an exceptional role in the growth and development of the preclinical CRO market.

North America is the dominating preclinical CRO market that accounted for a market share of over 45% in 2020. The North America is characterized by the rapid growth of the CROs and biopharmaceutical companies. According to the Pharmaceutical Research and Manufacturers Association (PhRMA), US conducts more than half of the research & development activities in the pharmaceutical field and also holds intellectual rights of a significant amount of new medicines. The biopharmaceutical industry accounted for around 4% of the US GDP in 2015. Moreover, higher adoption rate of advanced technologies along with the adequate amount of funding is boosting the entire ecosystem of preclinical studies and drug development process in US.

Asia Pacific is well known for the presence of few top CROs in the regions like China, India, and South Korea. The favorable government policies to attract FDIs and rising government expenditure of building sophisticated healthcare infrastructure is favoring the growth of the preclinical CRO market in Asia Pacific. Moreover, the cost-efficiency of the CROs in this region is expected to drive the growth of the market during the forecast period.

Lack of adequate investments in the underdeveloped economies to develop and expand the preclinical CRO industry is anticipated to be a major challenge to the industry and this may hamper the market growth in the forthcoming years. Moreover, there is a lack of standardization as the CROs fails to comply with certain standards such as good laboratory practices and there work quality are questionable. This factor may hamper the market growth in the upcoming future.

Based on the service, the bioanalysis & DMPK studies segment is estimated to be the fastest-growing segment during the forecast period. Bioanalysis is provides quantitative insights regarding the preclinical studies and is used at each and every step of the new drug development process. Further, the DMPK facilitates the toxicology testing, which itself is a very large segment and hence the DMPK is expected to grow rapidly during the forecast period.

Based on the end use, the biopharmaceutical segment dominated the market, garnering a market share of around 80% in 2020. The rising government initiatives to fund and develop the biopharmaceutical industry resulted in a surging growth of this segment. Biopharmaceutical industry represents around 20% of the global pharmaceutical market and is expected to rise further in the foreseeable future, which in turn is expected to drive the demand for the preclinical CRO services.

Some of the prominent players in the global preclinical CRO market are listed as below:

  • Wuxi AppTec
  • Pharmaceutical Product Development
  • Medpace, Inc.
  • Charles River Laboratories International, Inc.
  • PRA Health Science, Inc.
  • PAREXEL
  • Envigo
  • Eurofins Scientific.
  • Laboratory Corporation of America
  • ICON Plc

Segments Covered in the Report

By Service

  • Toxicology Testing
  • Bioanalysis & DMPK Studies
  • Chemistry
  • Compound Management
  • Safety Pharmacology
  • Others

By End Use

  • Medical Device Companies
  • Biopharmaceutical
  • Government & Academic Institutes

Regional Segmentation

– North America (U.S. and Canada)

 – Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

 – Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

 – Latin America (Brazil and Rest of Latin America)

– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Why should you invest in this report?

If you are aiming to enter the global preclinical CRO market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for preclinical CRO are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable. 

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