The global preclinical CRO market size is expected to reach USD 11.90 billion by 2032, according to a new study by Polaris Market Research. The report “Preclinical CRO Market Share, Size, Trends, Industry Analysis Report, By Service Type (Toxicology Testing, Bioanalysis & DMPK studies, Chemistry, Compound Management, Others); By Mode; By End-User; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
CROs offering a comprehensive range of preclinical services, including toxicology, pharmacokinetics, and bioanalytical services, are strategically positioned to meet the diverse and evolving needs of pharmaceutical and biotech companies. Regulatory agencies' are increasing focus on stringent safety and efficacy assessments in drug development has elevated the demand for high-quality preclinical studies, favoring CROs with a strong track record of regulatory compliance.
Also, the globalization of pharmaceutical research and development activities has opened opportunities for preclinical CROs to expand their services internationally, catering to the diverse needs of clients in different geographic regions.
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The landscape of the preclinical CRO market is characterized by dynamism influenced by several pivotal factors. Primarily, there is a progressive trend in the pharmaceutical and biotechnology sectors towards outsourcing preclinical research and drug development functions to specialized CROs. This shift is primarily fueled by the pursuit of cost-efficiency and time savings, as companies leverage the specialized expertise and infrastructure of CROs to expedite the drug development process.
With the growing complexity and cost of drug research and development procedures, the outsourcing trend becomes increasingly appealing. Additionally, the emergence of biologics and biosimilars has heightened the demand for preclinical CRO services, given the specialized testing and expertise required for these innovative drugs.
Moreover, the underdeveloped infrastructure in emerging economies, restricting research and development (R&D) endeavors, is expected to hinder the market's expansion. Nevertheless, considerable governmental investments in R&D and the concerted efforts of key industry players to augment preclinical trials open new avenues for firms in the worldwide preclinical CRO market. Furthermore, the inclination towards strategic collaborations between regional entities and public stakeholders is foreseen to offer revenue reinforcement, contributing to the market's overall growth.
Preclinical MRO Market Report Highlights
Polaris Market Research has segmented the preclinical CRO market report based on service type, mode, end-users, and region:
Preclinical MRO, Service Type Outlook (Revenue - USD Billion, 2019 - 2032)
Preclinical MRO, Mode Outlook (Revenue - USD Billion, 2019 - 2032)
Preclinical MRO, End-Users Outlook (Revenue - USD Billion, 2019 - 2032)
Preclinical MRO, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
Report Attributes |
Details |
Market size value in 2024 |
USD 6.13 billion |
Revenue forecast in 2032 |
USD 11.90 billion |
CAGR |
8.6% from 2024 – 2032 |
Base year |
2023 |
Historical data |
2019 – 2022 |
Forecast period |
2024 – 2032 |
Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
Segments covered |
|
Regional scope |
|
Competitive Landscape |
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Report Format |
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Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
For Specific Research Requirements |