Preclinical CRO Market Size Is Expected To Reach USD 10.3 billion By 2032 At 7.2% CAGR | MRFR

Preclinical CRO Market Research Report Information By Service (Toxicology Testing, Bioanalysis and Drug Metabolism and Pharmacokinetics (DMPK) Studies), Application (Oncology, Central Nervous System (CNS) Disorders, Cardiovascular Diseases, Immunological Disorders, Respiratory Diseases, Infectious Diseases, Diabetes), End User (Pharmaceutical and Biopharmaceutical Industries, Medical Device Companies and Academic Institutes) – Forecast till 2032

According to MRFR analysis, the preclinical CRO market is projected to record a CAGR of 7.2% to influence an earning level of USD 10.3 billion by the end of the forecast in 2032.

Preclinical Contract Research Organization (CRO) market refers to a segment of the pharmaceutical industry that provides preclinical research services to pharmaceutical, biotechnology and medical device companies. Preclinical research refers to the initial stages of drug development, where new compounds and medical devices are tested in vitro (in the lab) and in vivo (in animals) to determine their safety and efficacy before they are tested in humans.

The COVID-19 pandemic has had a significant impact on the preclinical CRO market. The pandemic has disrupted the global economy and has created many challenges for the pharmaceutical and biotechnology industries.

In pandemic many preclinical CROs experienced a slowdown in business due to lockdowns and restrictions on movement, which made it difficult for companies to conduct preclinical studies. As the pandemic has continued, there has been an increase in demand for preclinical research services, as companies have sought to develop vaccines and treatments for COVID-19.

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Key Players

Some of the key market players are:

• IQVIA (U.S.)
• PAREXEL International Corporation (U.S.)
• Envigo (U.S.)
•  Charles River (U.S.)
•  Eurofins Scientific (Luxembourg)
• ICON PLC (Dublin)
• PRA Health Sciences (U.S.)
•  Medpace (U.S.)

Market Segmentation

The preclinical CRO market has been segmented into service, application, and end-user.

Based on the service, the market has been segmented into Toxicology Testing and Bioanalysis and Drug Metabolism and Pharmacokinetics Studies.

Based on the application, the market has been segmented into Oncology, Central Nervous System Disorders, Cardiovascular Diseases, Infectious Diseases and Diabetes.

Based on the end-user, the market has been segmented into Pharmaceutical and Biopharmaceutical Industries and Medical Device Companies and Academic Institutes.

Regional Analysis

North America was the largest region in the preclinical CRO market. This was due to factors such as the presence of a large number of pharmaceutical and biotechnology companies, the adoption of advanced technologies, and the increasing demand for outsourcing of preclinical studies. The growing trend of outsourcing in the pharmaceutical industry and the increasing focus on the development of new drugs have also contributed to the growth of the preclinical CRO market in North America.

Browse In-depth Market Research Report (125 Pages) on Preclinical CRO: https://www.marketresearchfuture.com/reports/preclinical-cro-market-7274

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