The global pre-clinical CROs market is expected to reach US$ 8,412.9 Mn in 2027 from US$ 4,282.42 Mn in 2018. The pre-clinical CROs market is estimated to grow with a CAGR of 8.1% from 2019-2027.
The market is driven by factors such as, increasing R&D expenditures and higher cost of drug development process in developed countries. However, dearth of skilled professionals may limit the growth of the market to a certain extent.
Increasing R&D expenditures made by the companies has been driving the growth of the pre-clinical CROs market. Research & development (R&D) is a significant and essential part of a company’s business. Pharmaceutical and biotech companies majorly focus on research and development (R&D) to come up with new molecules for various therapeutic applications with the most significant medical and commercial potential. The companies invest majorly on the R&Ds intending to deliver high quality and innovative products to the market. R&D investments made by biopharmaceutical companies has increased over the years. As per a report published by Pharmaceutical Research and Manufacturers of America (PhRMA), the R&D expenditure of the biopharmaceutical companies has increased from US$49.6 billion in 2012 to US$ 58.8 billion in 2015. R&D not only leads to huge investment but also leads to the involvement of several years. The process from early detection or design to development to regulatory approval can take more than 10 to 15 years. Throughout the development phase of a drug substance, various testing services are required to check the quality and efficacy of the product. Hence, the pharmaceutical and biotech companies prefer to outsource the services to the contract research organizations (CROs) to save the cost and time, which is expected to drive the growth of the market.
Global pre-clinical CROs were segmented by service and end user. Based on the service segment, the market is categorized as, bio-analysis & DMPK studies, toxicology, and other services. On the basis of end user, the market is classified as, biopharmaceutical companies, government & academic institutes, and medical device companies.
Some of the major primary and secondary sources included in the report include, World Health Organization, Association of Clinical Research Organization, European Federation of Pharmaceutical Industries and Associations, European CRO Federation, and Pharmaceutical Research and Manufacturers of America, among others.
Reasons to Buy
The market is driven by factors such as, increasing R&D expenditures and higher cost of drug development process in developed countries. However, dearth of skilled professionals may limit the growth of the market to a certain extent.
Increasing R&D expenditures made by the companies has been driving the growth of the pre-clinical CROs market. Research & development (R&D) is a significant and essential part of a company’s business. Pharmaceutical and biotech companies majorly focus on research and development (R&D) to come up with new molecules for various therapeutic applications with the most significant medical and commercial potential. The companies invest majorly on the R&Ds intending to deliver high quality and innovative products to the market. R&D investments made by biopharmaceutical companies has increased over the years. As per a report published by Pharmaceutical Research and Manufacturers of America (PhRMA), the R&D expenditure of the biopharmaceutical companies has increased from US$49.6 billion in 2012 to US$ 58.8 billion in 2015. R&D not only leads to huge investment but also leads to the involvement of several years. The process from early detection or design to development to regulatory approval can take more than 10 to 15 years. Throughout the development phase of a drug substance, various testing services are required to check the quality and efficacy of the product. Hence, the pharmaceutical and biotech companies prefer to outsource the services to the contract research organizations (CROs) to save the cost and time, which is expected to drive the growth of the market.
Global pre-clinical CROs were segmented by service and end user. Based on the service segment, the market is categorized as, bio-analysis & DMPK studies, toxicology, and other services. On the basis of end user, the market is classified as, biopharmaceutical companies, government & academic institutes, and medical device companies.
Some of the major primary and secondary sources included in the report include, World Health Organization, Association of Clinical Research Organization, European Federation of Pharmaceutical Industries and Associations, European CRO Federation, and Pharmaceutical Research and Manufacturers of America, among others.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the pre-clinical CROs market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global pre-clinical CROs market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
Table of Contents
1. Introduction
3. Research Methodology
4. Global Pre-Clinical CROs Market - Market Landscape
5. Global Pre-Clinical CROs Market - Key Industry Dynamics
6. Pre-Clinical CROs Market - Global Analysis
7. Global Pre-Clinical CROs Market Analysis- by Service
8. Global Pre-Clinical CROs Market Analysis - by End User
9. Pre-Clinical CROs Market Revenue and Forecasts to 2027 - Geographical Analysis
10. Pre-Clinical CROs Market - Industry Landscape
11. Pre-Clinical CROs Market-Key Company Profiles
12. Appendix
Companies Mentioned
A selection of companies mentioned in this report includes:
- Covance, Inc.
- Charles River
- Eurofins Scientific
- PRA Health Sciences
- WuXi AppTec
- Medpace, Inc.
- Pharmaceutical Product Development, LLC
- Parexel International Corporation
- ICON Plc
- MD Biosciences