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Preclinical CRO Market Size

Report ID: GMI2860
Published Date: Mar 2023
Report Format: PDF

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Preclinical CRO Market Size

Preclinical CRO Market size accounted for over USD 5.3 billion in 2022 and is estimated to grow at 7.9% between 2023 and 2032. Technological advancements and rising demand for preclinical CROs are major factors driving the global market growth.

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Preclinical CRO is a support center offering expertise in R&D that is necessary for navigating a drug candidate through animal testing and advancing it into the clinical phase. Preclinical research services involve several critical studies to assess drug efficacy and safety in animal models and complete Investigational New Drug (IND) filing studies. Preclinical CRO offer services such as bioanalysis & DMPK studies, toxicology testing and bioequivalence studies among others

The preclinical CRO industry is primarily driven by increasing early research activities in drug discovery process coupled with rising outsourcing for preclinical CRO services. Conducting preclinical trials, Proof-Of-Concept (POC) and First-In-Human (FIH) as multicenter studies can offer substantial advantages for discovering exact target population and refining recruitment. Thus, preclinical CRO services are vital fragments of effective drug development that will accelerate the market growth in the coming years.

Preclinical CRO Market Report Attributes
Report Attribute	Details
Base Year:	2022
Preclinical CRO Market Size in 2022:	USD 5 Billion
Forecast Period:	2023 to 2032
2032 Value Projection:	USD 11 Billion
Historical Data for:	2018 to 2032
No. of Pages:	104
Tables, Charts & Figures:	128
Segments covered:	Product, Technology, Application, and Region
Growth Drivers:	Increasing R&D expenditure worldwide Growing outsourcing R&D activities Rising number of drugs in preclinical trials
Pitfalls & Challenges:	Stringent regulatory policies

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Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global market for preclinical CRO exceeded a valuation of USD 5 billion in 2022 and is set to progress at more than 7.5% CAGR over the next 10 years owing to increasing R&D expenditure on early-stage development, coupled with the growing number of drugs in the preclinical phase.

Medical device companies segment is anticipated to depict more than 7.5% CAGR between 2023 and 2032 due to the mounting demand for special preclinical CRO services that fulfill the personalized needs of medical device and diagnostics companies.

Toxicology testing segment is projected to surpass USD 4 billion by 2032 as toxicology studies are a legal prerequisite of drug development.

North America preclinical CRO market held more than 43% business share in 2022 on account of consistent drug development and the strong presence of key medical device manufacturers in the region.