Pre-Clinical CROs Market to Reach US$ 8,412.9 Mn by 2027 - PRA Health Sciences, WuXi AppTec, Medpace, Pharmaceutical Product Development, Parexel International, ICON, and MD Biosciences

The global pre-clinical CROs market expected to be US$ 4,282.42 Mn in 2018 and is predicted to grow at a CAGR of 8.1% during the forecast period 2019 – 2027, to reach US$ 8,412.9 Mn by 2027.

Increasing R&D expenditures and high cost of drug development process in the developed countries have been boosting the market over the years. However, stringent regulations for conduction of clinical trials and variations in the GMP guidelines across countries around the globe are likely to have a negative impact on the growth of the market in the coming years.

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The global pre-clinical CROs market, based on service, has been segmented into bio-analysis and DMPK studies, toxicology and other services. The toxicology segment held a largest share of the market in 2018. Moreover, the same segment is anticipated to register the highest CAGR in the market during the forecast period as toxicology testing plays a vital role in drug discovery process to evaluate the safety of the drug candidate. Moreover, the test is also one of the most reliable and commonly performed that is taken into consideration for translation of animal responses into an understanding risk among human subjects.

The report highlights the trends prevalent in the global pre-clinical CROs market and the factors driving the market along with those that act as deterrents to its growth.

The major players operating in the pre-clinical CROs market include, Covance, Inc., Charles River, Eurofins Scientific, PRA Health Sciences, WuXi AppTec, Medpace, Inc., Pharmaceutical Product Development, LLC, Parexel International Corporation, ICON Plc, and MD Biosciences among the others. The market has witnessed various organic as well as inorganic developments during recent years in the pre-clinical CROs market. For instance, in September 2019, Pharmaceutical Product Development, LLC (PPD) expanded its bio-analytical laboratory in Richmond, Virginia, enhancing immunochemistry, biomarker and chromatography services for biopharmaceutical clients.

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The report segments the global pre-clinical CROs market as follows:

Global Pre-Clinical CROs Market – By Service

Bio-Analysis and DMPK Studies
Toxicology
Other Services
Global Pre-Clinical CROs Market – By End User

Biopharmaceutical Companies
Government and Academic Institutes
Medical Device Companies

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This release was published on openPR.