Covina, Jan. 02, 2023 (GLOBE NEWSWIRE) -- CRO provides various range of services which support the clinical research process. The services are divided into four categories like Pre-clinical research – which includes services like animal studies, target identification & validation, and IND-enabling studies. Clinical trial management – includes services like feasibility and selection of site, clinical monitoring, retention & patient recruitment. Data management – includes services like entry of data, analysis and cleaning. Post marketing surveillance – includes services like risk management and pharmacovigilance. Number of factors are considered to choose the CRO like specific services which are required, to work with specialty CRO while conducting clinical research, to consider size of CRO, while conducting large clinical trial there is need to work with CRO that has infrastructure and necessary resources in place, to conduct small clinical trial work with smaller CRO, need to consider the location of CRO, to conduct a global clinical trial need to work with CRO which has presence in multiple countries. To work with CRO is an effective way of conducting clinical research. CRO offers different and wide range of services which help in accelerating the process of clinical development. The purpose of preclinical CRO is to determine and test the drug at drug discovery stage. Preclinical CRO helps pharmaceutical organization to achieve fast & effective delivery to market. Preclinical CRO offer services like data collection, project management, toxicology, medical testing, quality analysis, maximum dosage studies, regulation compliance, species expertise, safety and efficacy reporting. Most of the CROs use animal model testing which are addressed by reduce, refine and replace that aim to reduce animal testing within drug development industry and thus requires use of alternative models for studying effect of new drugs on human disease. Zebrafish has become the popular choice as an alternative model in animal testing as it acts as bridge between in vivo and in vitro testing. Specialist CRO use Zebrafish as it is cost-effective, easy to breed, and maintain model which is similar to human being and are used for cosmetic, medical and chemical research. However, wide applications has enhanced the target market growth.
The report “Preclinical CRO Market, By Service (Drug Metabolism & Pharmacokinetics (DMPK) Studies), and Toxicology Testing), By Application Method (Respiratory disease, Cardiovascular disease, Infectious disease, Oncology, Diabetes, Immunological disorder, and Others), By End-Users (Medical Device Companies, Pharmaceutical & Biotechnology Companies, Government & Academic Institutes, and Others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”
Key Highlights:
- In December 2022, AmplifyBio a fast growing preclinical CRO is partnering with SaaS leader in GMP (Good Manufacturing Practice) Solutions, Blue Mountain for managing the calibration, validation process, and maintenance of their assets. New partnership of Blue Mountain RAM will help in enabling us to meet the compliance goals, harmonizing all activity around GxP asset management in single system & streamline process while ensuring regulatory requirements.
- In December 2022, Crown Bioscience a global CRO which supports drug discovery & development for immune-oncology, oncology, immune-mediated inflammatory diseases, by providing innovative preclinical services to pharma & biotech companies has signed an agreement for accessing foundational CRISPR/Cas9 patent portfolio which is held by ERS to operate globally by using CRISPR/Cas9 for gene editing.
Analyst View:
The key driving factor for growth of preclinical CRO market is rising prevalence of disease, research & development activities and rate of urbanization. Preclinical CRO helps in saving time & money, saving on laboratories, equipment and staff costs. Reduce the time in total development plan which helps to bring the new drug earlier in market for patient need. Preclinical CRO provides animal welfare compliance and alternative model selection. As medical products has to meet strict guidelines before approval, working with CRO which understands rules & regulations and standards can help in avoiding frustration and expenses of product failing. However, rising prevalence of disease and applications of CRO is expected to boost the demand for target market growth.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Preclinical CRO Market, By Service (Drug Metabolism & Pharmacokinetics (DMPK) Studies), and Toxicology Testing), By Application Method (Respiratory disease, Cardiovascular disease, Infectious disease, Oncology, Diabetes, Immunological disorder, and Others), By End-Users (Medical Device Companies, Pharmaceutical & Biotechnology Companies, Government & Academic Institutes, and Others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”
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Key Market Insights from the report:
Preclinical CRO Market accounted for US$ 4.9 billion in 2022 and is estimated to be US$ 11.8 billion by 2032 and is anticipated to register a CAGR of 8.2%. The Preclinical CRO Market is segmented based on Service, Application, End-Users and Region.
- Based on Service, Preclinical CRO Market is segmented into Drug Metabolism & Pharmacokinetics (DMPK) Studies, and Toxicology Testing.
- Based on Application, Preclinical CRO Market is segmented into Respiratory disease, Cardiovascular disease, Infectious disease, Oncology, Diabetes, Immunological disorder, and others.
- Based on End-Users, Preclinical CRO Market is segmented into Medical Device Companies, Pharmaceutical & Biotechnology Companies, Government & Academic Institutes, and others.
- By Region, the Preclinical CRO Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Competitive Landscape & their strategies of Preclinical CRO Market:
The prominent players operating in the Preclinical CRO Market includes, Eurofins Scientific, Charles River Laboratories International Inc., Wuxi App Tec, Pharmaceutical Product Development LLC., FUJIFILM Holdings America Corporation, PRA Health Sciences Inc., Intertek Group Plc., Crown Bioscience & Laboratory Corporation of America Inc., PARAXEL, Medpace Inc., and others.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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- Explains an overview of the product portfolio, including product development, planning, and positioning
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- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
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