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Global Preclinical Assets Market 2023 Industry Outlook, Business Growth, Segments And Key Players Analysis Till 2032 | Laboratory Corporation of America, IQVIA Inc., ICON PLC, Eurofins Scientific SE, PPD Inc
Preclinical Assets Market
The Business Research Company's Template Global Market Report 2023 identifies Increasing drug discovery as the major driver for the Preclinical Assets Market's growth in the forecast period. Drug discovery refers to the process of finding chemical substances that could be used as medicinal agents. It is the process by which new candidate medications are discovered. Within this process, preclinical assets play a vital role by supplying essential data and evidence to aid in the selection of molecules for clinical development as candidates.
The global preclinical assets market is expected to grow from $4.84 billion in 2022 to $5.32 billion in 2023 at a compound annual growth rate (CAGR) of 9.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The preclinical assets market is expected to reach $7.62 billion in 2027 at a CAGR of 9.4%.
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Major competitors in the preclinical assets market are Laboratory Corporation of America, IQVIA Inc., ICON PLC, Eurofins Scientific SE, PPD Inc., SGS SA, WuXi AppTec Co. Ltd., Intertrek Group PLC, Charles River Laboratories International Inc., Medpace Inc., Pharmaron Beijing Co. Ltd., Evotec SE, GenScript Biotech Corporation, Inotiv Inc., SRI International Inc., Shanghai Medicilon Inc., Biocytogen Pharmaceuticals Beijing Co. Ltd., AmplifyBio LLC, BioReliance Corporation, Pharmalegacy Laboratories Co. Ltd., Precigen Inc., ReproCELL Incorporated, InSphero AG, Crown Bioscience Inc., Comparative Biosciences Inc., TCG Lifesciences Pvt. Ltd., InVivo Biosystems, Pharmatest Services Ltd, Domainex Limited, and Viroclinics Xplore.
A key trend in the Preclinical Assets Market includes Product innovations. Major companies operating in the preclinical assets market are focused on innovating new products and solutions to strengthen their market position and gain a competitive advantage. For instance, in April 2022, Charles River Laboratories International, a US-based pharmaceutical company specializing in a variety of preclinical and clinical laboratories, and Valo Health Inc., a US-based technology company built to transform drug discovery, launched Logica, an artificial intelligence (AI)-powered drug solution that directly translates clients' biological insights into optimized preclinical assets. Logica leverages Charles River's superior preclinical knowledge and Valo's AI-powered Opal Computational Platform to give clients transformed drug discovery through a single integrated offering that effortlessly translates targets to candidate nomination. By partnering with Valo, Charles River combines its laboratory expertise with molecular design technology, revolutionizing the industry to give its clients highly qualified leads and candidates while connecting client costs to value creation.
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The Preclinical Assets Market is segmented -
By Service: Bioanalysis And DMPK (Drug Metabolism and Pharmacokinetic) studies, Toxicology Testing, Compound Management, Safety Pharmacology, Other Services
By Model Type: Patient Derived Organoid (PDO) Model, Patient Derived Xenograft Model
By End User: Biopharmaceutical Companies, Government Institutes, Other End-Users
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Preclinical Assets Market.
The Business Research Company's "Global Preclinical Assets Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Preclinical Assets Market Include:
1. Executive Summary
2. Preclinical Assets Market Characteristics
3. Preclinical Assets Market Trends And Strategies
4. Preclinical Assets Market - Macro Economic Scenario
5. Global Preclinical Assets Market Size and Growth
……
32. Global Preclinical Assets Market Competitive Benchmarking
33. Global Preclinical Assets Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Preclinical Assets Market
35. Preclinical Assets Market Future Outlook and Potential Analysis
36. Appendix
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