Preclinical CRO Market Size is Estimated to grow at a CAGR of 7.6% during the forecast period

• The demand for specialized preclinical services, particularly in fields like genomics, toxicology, and bioinformatics, is driving the growth of the market.
• The global preclinical CRO market was valued at USD 1.42 billion in 2022 and is expected to reach approximately USD 11.8 billion by 2032, growing at a CAGR of 7.6% during the forecast period of 2023–2032.
• Pharmaceutical and biotechnology companies are placing an increasing emphasis on outsourcing to cut costs and expedite drug discovery processes.

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• Pharmaceutical, biotechnology, and medical device companies hire preclinical contract research organizations, or CROs, to conduct research and testing during the preclinical stage of drug development.
• By outsourcing preclinical research to CROs, pharmaceutical companies can expedite the drug development process while saving money and gaining access to specialized knowledge and resources.

GROWTH DRIVERS

• Strong pipeline biopharmaceutical goods with intricate therapies need specific testing, such as toxicology, pharmacology, and safety evaluation, which CRO provides.
• To combat the virus, pharmaceutical companies and government agencies have increased their investment in preclinical studies aimed at finding effective treatments and vaccines.
• CROs have been instrumental in supporting these efforts by providing testing services and virology and immunology expertise.

MARKET SEGMENTATION:

·?????????By Service Type –?

·???????? Bioanalysis

·???????? Toxicology Testing

·???????? Compound Management and Chemistry

·???????? Safety Pharmacology and Others

·?????????By Model type –?

·???????? Patient Derived Organoid (PDO) Model

·???????? Patient Derived Xenograft (PDX) Model

·?????????By End User –?

·???????? Biopharmaceutical Companies

·???????? Government and Academics Institutes

·???????? Medical Device Companies

·?????????By Region?–

·???????? North America

·???????? Europe

·???????? Asia Pacific

·???????? Middle East and Africa

·???????? South America

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Global Key Players:

·?????????Bioneeds

·?????????Jubilant Biosys

·?????????TheraIndx

·?????????Eurofins

·?????????Wuxi Apptec

·?????????Medpace

·?????????Charles River Laboratories

·?????????PPD

·?????????SGA SA

·?????????Intertek Group

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Contact Person:? James Lin

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