Press release
Oncology Based In-vivo CRO Market Report 2020-2030: Size, Share, Trends, Growth, Opportunity and Competitive Outlook
The major pharmaceutical companies are concentrating to increase the frequency of outsourcing of research and development activities. The objective of these R&D activities is to focus on the core competencies of these pharmaceutical companies. These activities are further bolstering the demand in the oncology based in-vivo CRO market.
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The CROs provide economic efficiencies instead of conducting in-house research and study. It is also expected to fuel demand in the oncology based in-vivo CRO market. These research initiatives help the organizations to stay flexible and competitive in the oncology based in-vivo CRO industry. The research activities are providing a wide variety of initiatives such as clinical trials involving human beings, efficacy tests in animal models, assay development safety, and genetic engineering. So, these activities may bolster demand in the oncology based in-vivo CRO industry.
Oncology Based In-vivo CRO Market: Key Trends
The oncology based in-vivo CRO market is dominated by solid tumors. These tumors account for the largest portion of the market revenue. There are a variety of factors that are responsible for the increased research in the area of solid tumors. One such factor is the existing difference between demand and supply in therapeutic treatments to cure solid cancer. In addition, there is a wide range of grants available from different institutes such as NCI and NIH. The presence of more than 800 novel molecules that are in the pipeline by various pharmaceutical companies is also bolstering demand in the oncology based in-vivo CRO market.
The current market of oncology based in-vivo CRO is experiencing a rapid change in the market scenario. The constantly changing consumer preferences are also demanding innovation from manufacturers in the oncology based in-vivo CRO market. It results in the crucial requirement to develop better-performing products. So, the newly developed CROs from the oncology based in-vivo CRO market may overcome any type of hurdles and gain momentum with research and development activities. The manufacturers have ensured their proficiency and experiences through the products designed by them. So, these factors may cumulatively bolster demand in the oncology based in-vivo CRO market.
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Oncology Based In-vivo CRO Market: Competitive Dynamics and Key Developments
A variety of outsourcing activities are rising in the healthcare industry. It may lead to the entry of different new industry players in the oncology based in-vivo CRO market. Charles River Laboratories has collaborated with Takeda Pharmaceutical Company in January 2020. The motive of this collaboration is the identification and development of preclinical candidates.
Some of the prominent players in the oncology based in-vivo CRO market include:
Charles River Laboratory
WuXi AppTec
ICON Plc
Crown Bioscience
Eurofins Scientific
Toxikon, Inc.
Covance
Taconic Biosciences
Oncology Based In-vivo CRO Market: Regional Assessment
North America holds the leading position in the oncology based in-vivo CRO market. In 2020, the region has accounted for a major portion of the market revenue. This growth can be attributed to the back availability of technologically advanced CROs. In addition, increased government funding and the highest rate of per capita healthcare expenditure are also bolstering demand in the oncology based in-vivo CRO industry in the North American region. Further, rising research and development activities and requirements to reduce overall expenditure on trial may boost opportunities in the oncology based in-vivo CRO industry in North America.
On the other hand, the Asia Pacific region is presenting lucrative opportunities in the oncology based in-vivo CRO market. A huge patient base, economic development, continuously improving healthcare infrastructure, and untapped opportunities are bolstering demand in the oncology based in-vivo CRO industry in the region.
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