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Dublin, Oct. 17, 2019 (GLOBE NEWSWIRE) -- The "Pre-Clinical CROs Market to 2027 - Global Analysis and Forecasts By Service; End User, and Geography" report has been added to ResearchAndMarkets.com's offering.
The global pre-clinical CROs market is expected to reach US$ 8,412.9 Mn in 2027 from US$ 4,282.42 Mn in 2018. The pre-clinical CROs market is estimated to grow with a CAGR of 8.1% from 2019-2027.
The market is driven by factors such as, increasing R&D expenditures and higher cost of drug development process in developed countries. However, dearth of skilled professionals may limit the growth of the market to a certain extent.
Increasing R&D expenditures made by the companies has been driving the growth of the pre-clinical CROs market. Research & development (R&D) is a significant and essential part of a company's business.
Pharmaceutical and biotech companies majorly focus on research and development (R&D) to come up with new molecules for various therapeutic applications with the most significant medical and commercial potential. The companies invest majorly on the R&Ds intending to deliver high quality and innovative products to the market.
R&D investments made by biopharmaceutical companies has increased over the years. As per a report published by Pharmaceutical Research and Manufacturers of America (PhRMA), the R&D expenditure of the biopharmaceutical companies has increased from US$49.6 billion in 2012 to US$ 58.8 billion in 2015. R&D not only leads to huge investment but also leads to the involvement of several years. The process from early detection or design to development to regulatory approval can take more than 10 to 15 years.
Throughout the development phase of a drug substance, various testing services are required to check the quality and efficacy of the product. Hence, the pharmaceutical and biotech companies prefer to outsource the services to the contract research organizations (CROs) to save the cost and time, which is expected to drive the growth of the market.
Global pre-clinical CROs were segmented by service and end user. Based on the service segment, the market is categorized as, bio-analysis & DMPK studies, toxicology, and other services. On the basis of end-user, the market is classified as, biopharmaceutical companies, government & academic institutes, and medical device companies.
Some of the major primary and secondary sources included in the report include, World Health Organization, Association of Clinical Research Organization, European Federation of Pharmaceutical Industries and Associations, European CRO Federation, and Pharmaceutical Research and Manufacturers of America, among others.
Reasons to Buy
Key Topics Covered
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 Global Pre-Clinical CROs Market - By Service
1.3.2 Global Pre-Clinical CROs Market - By End-user
1.3.3 Global Pre-Clinical CROs Market - By Geography
2. Global Pre-Clinical CROs Market - Key Takeaways
3. Research Methodology
3.2 Secondary Research
3.3 Primary Research
4. Global Pre-Clinical CROs Market - Market Landscape
4.2 PEST Analysis
4.2.1 North America PEST Analysis
4.2.2 Europe PEST Analysis
4.2.3 Asia Pacific PEST Analysis
4.2.4 Middle East & Africa PEST Analysis
4.2.5 South & Central America PEST Analysis
4.3 Expert Opinions
5. Global Pre-Clinical CROs Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Increasing R&D Expenditures
5.1.2 Higher Cost of Drug Development Process in Developed Countries
5.2 Key Market Restraint
5.2.1 Dearth of Skilled Professionals
5.3 Key Market Opportunities
5.3.1 Rising Biosimilars and Biologics Market
5.4 Future Trends
5.4.1 Increasing Number of Clinical Trials
5.5 Impact Analysis
6. Pre-Clinical CROs Market - Global Analysis
6.1 Global Pre-Clinical CROs Market Revenue Forecasts And Analysis
6.2 Global Pre-Clinical CROs Market, By Geography - Forecasts And Analysis
6.3 Performance of Key Players
7. Global Pre-Clinical CROs Market Analysis - by Service
7.2 Global Pre-Clinical CROs Market, By Service 2018 & 2027 (%)
7.3 Bio-Analysis and DMPK Studies Market
8. Global Pre-Clinical CROs Market Analysis - by End User
8.2 Global Pre-Clinical CROs Market, By End User 2018 & 2027 (%)
8.3 Biopharmaceutical Companies Market
8.4 Government & Academic Institutes Market
8.5 Medical Device Companies Market
9. Pre-Clinical CROs Market Revenue and Forecasts to 2027 - Geographical Analysis
9.1 North America Pre-Clinical CROs Market
9.2 Europe Pre-Clinical CROs Market
9.3 Asia Pacific Pre-Clinical CROs Market
9.4 Middle East & Africa Pre-Clinical CROs Market
9.5 South And Central America Pre-Clinical CROs Market
10. Pre-Clinical CROs Market - Industry Landscape
10.2 Growth Strategies in the Pre-Clinical CROs Market, 2016-2019
10.3 Organic Growth Strategies
10.4 Organic Growth Strategies in the Pre-Clinical CROs Market, 2016-2019 (%)
10.5 Inorganic Growth Strategies
10.6 Inorganic Growth Strategies in the Pre-Clinical CROs Market, 2016-2019 (%)
11. Pre-Clinical CROs Market - Key Company Profiles
11.1 MD Biosciences Inc.
11.2 WuXi AppTec
11.3 Pharmaceutical Product Development LLC
11.4 Covance Inc.
11.5 Charles River
11.6 PRA Health Sciences Inc.
11.8 Parexel International Corporation
11.9 ICON plc
11.10 Eurofins Scientific
For more information about this report visit https://www.researchandmarkets.com/r/m8kk1o
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