Toxicology Segment to Hold Major Pre-Cinical CROs Market Share During 2019–2027
According to our latest study on “Pre-Cinical CROs Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Service, End User, and Geography,” the market is valued at US$ 4,282.2 million in 2018 and is expected to reach US$ 8,412.9 million in 2027; it is estimated to record a CAGR of 8.1% from 2019-2027. The report highlights the trends and drivers prevailing in the pre-clinical CROs market.
Pre-clinical CRO is a support center that offers expertise in research & development intended for navigating a drug candidate through animal testing and advancing it into the clinical phase. Also, preclinical research services involve several studies related to assessing drug efficacy and safety in animal models and complete Investigational New Drug (IND) filing studies. Furthermore, the main objective of the pharmaceutical organization using a preclinical CRO is to achieve fast and effective delivery to the market.
Pre Clinical CROs Market to 2027 - Global Analysis and Forecasts By Service (Bio-Analysis and DMPK Studies, Toxicology, and Other Services), End User (Biopharmaceutical Companies, Government & Academic Institutes, and Medical Device Companies), and Geography
Pre Clinical CROs Market Share Report - Growth Outlook 2027
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Pre-Clinical Research for Rare Diseases Provides Lucrative Opportunities for the Overall Market Size
Developing drugs intended for rare diseases offers lucrative opportunities for pharma companies. Developing new drugs intended for rare diseases will account for new drug discovery and pre-clinical and clinical stages of drug development. Therefore, pre-clinical studies in animals assist in determining the dose range of a test drug that will be evaluated in Phase 1 clinical trial. Further, pre-clinical drug development intended for rare diseases helps to:
- Evaluate The Distribution, Safety, And Potential Toxicity Of An Investigational New Drug (IND).
- Drug Efficacy In Animal Disease Models
- Characterize Pharmacokinetic Properties
- Evaluate The Pharmacologic Profile Of IND Utilized For Clinical Studies
- Understanding Of The In-Vivo Drug Properties.
Such aforementioned factors will offer lucrative market opportunities for the pre-Clinical CROs market during the forecast period accounting major market share.
Service Insights
Based on service, the pre-clinical CROs market is segmented as bio-analysis and DMPK studies, toxicology, and other services. The toxicology segment held the largest market share of 45.7% in 2019. Toxicology studies are used to characterize the toxicity profile of a drug by identifying its impact on organ structure and/or functionality. The toxicology studies reveal an assessment of the severity and reversibility of toxicity, as well as dose ranges and exposure. Also, pharmacological studies such as in-vivo preclinical toxicology studies are intended to assess the onset, severity, and duration of toxic effects, dose-dependency, and degree of reversibility (or irreversibility). Also, top companies like IITRI is a high-quality provider of preclinical toxicology and drug safety evaluation services in accordance with GLP standards. Also, the company provides a full range of in-vivo toxicology testing services that support submissions to the Food and Drug Administration (FDA) and other regulatory agencies involving complete IND-enabling programs and chemical toxicity assessments. Such aforementioned factors are responsible for influential segmental growth thereby dominating the overall market growth during the forecast period.
Impact of COVID-19 Pandemic on Pre-Cinical CROs Market
COVID-19 had a positive impact on the pre-clinical CROs market. Also, the pandemic placed tremendous pressure on the clinical research enterprise for advantageous study outcomes for the virus. For instance, in September 2020, Pfizer Inc. announced a partnership with BioNTech SE, aiming for preliminary pre-clinical data among mouse and non-human primate models for developing a "BNT162b2 mRNA-based vaccine program" against SARS-CoV-2. Effective clinical outcomes from pre-clinical research intended for the COVID-19 pandemic result in overall market growth during the forecast period.
LabCorp, Charles River Laboratories, Eurofins Scientific, PRA Health Sciences, WuXi AppTec, Medspace, Inc., Pharmaceutical Product Development, LLC., Paraxel International Corporation, ICON Plc, and MD Bioscience, and among others are among the several players engaged in addressing the growing demands for pre-clinical CROs market.
The report segments the Pre-Cinical CROs Market as follows:
Based on service, the pre-clinical CROs market is segmented as bio-analysis and DMPK studies, toxicology, and other services. The toxicology segment held the largest market share in 2019. Based on end user, the global pre-clinical CROs market is segregated as biopharmaceutical companies, government & academic institutes, and medical device companies. The biopharmaceutical segment accounted largest market share in 2019. Based on geography, the pre-clinical CROs market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
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