Press release
In Vivo Contract Research Organization (CRO) Market Share Growing Rapidly with Recent Trends and Outlook 2024
Market Overview and Trends
The In Vivo CRO market was valued at USD 3.61 billion in 2022 and is projected to reach a staggering USD 6.44 billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 8.2%. This growth can be attributed to the increasing complexity of drug development processes, prompting pharmaceutical and biotechnology companies to outsource these specialized services to CROs. Additionally, the rising prevalence of chronic diseases and the urgent need for innovative therapies are driving the demand for in vivo studies, further propelling market expansion.
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Key Drivers
Outsourcing Surge: The pharmaceutical industry is increasingly outsourcing drug development activities to CROs to capitalize on their expertise, cost-effectiveness, and global reach.
Mounting Disease Burden: The growing prevalence of chronic diseases like cancer, diabetes, and neurological disorders necessitates the development of novel treatments, translating into a higher demand for in vivo studies.
Focus on R&D: Pharmaceutical and biotechnology companies are channeling significant investments into research and development (R&D) activities, fueling the demand for CRO services.
Technological Advancements: The adoption of advanced technologies like gene editing and artificial intelligence (AI) in drug discovery is streamlining in vivo studies, enhancing their efficiency and accuracy.
Restraints and Challenges
Stringent Regulations: Stringent regulatory requirements for drug development pose a challenge for CROs, demanding adherence to complex protocols and extending timelines.
Ethical Concerns: Ethical considerations surrounding animal testing can impede in vivo research and influence public perception.
Skilled Workforce Shortage: The availability of qualified personnel with expertise in conducting in vivo studies remains a limiting factor.
Growth Opportunities
Emerging Markets: The burgeoning pharmaceutical industries in Asia-Pacific and Latin America present lucrative growth avenues for CROs.
Niche Therapeutic Areas: Specializing in niche therapeutic areas like oncology and immuno-oncology can enable CROs to cater to unmet medical needs and capture a larger market share.
Strategic Partnerships: Collaborations between CROs and pharmaceutical companies can foster innovation and accelerate drug development timelines.
Key Market Insights
North America currently dominates the In Vivo CRO market, primarily due to the presence of established pharmaceutical giants and a robust healthcare infrastructure.
The oncology segment within the In Vivo CRO market is anticipated to witness significant growth owing to the rising incidence of cancer and the burgeoning pipeline of oncology drugs.
SWOT Analysis
Strengths: Expertise, global reach, cost-effectiveness
Weaknesses: Regulatory hurdles, ethical concerns
Opportunities: Emerging markets, niche areas, strategic partnerships
Threats: Skilled workforce shortage, technological disruptions
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Latest Strategic Developments, Mergers & Acquisitions
In November 2020, Bioanalytical Systems, Inc. launched their new contract research service brand named Inotiv. Inotiv started representing the union of the company's Seventh Wave Laboratories & Smithers Avanza Toxicology Services working In Vivo Toxicology, pharmacology, bioanalysis, drug metabolism, and pharmacokinetic solutions.
In April 2020, PAREXEL International Corporation announced it has been ranked #1 among global Clinical Research Organizations (CROs) for service provider leadership in Phase II/III clinical research according to a global survey of pharmaceutical and biotechnology companies by Industry Standard Research (ISR)
Companies considered and profiled in this market study
American Preclinical Services, LLC, BTS Research, Charles River Laboratories, Chiltern International Ltd., Crown Bioscience, Eurofins Scientific, Evotec, ICON PLC, INC Research, inVentiv Health, Parexel International, Pharmaceutical Product Development, LLC (PPD), PRA Health Sciences, Quintiles, Taconic Biosciences and Theorem Clinical Research, others are leading players involved on the global In vivo CRO market.
Segments covered in the report
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2020 to 2028. The scope of the report can be defined as:
For the purpose of the study, this report segments the Global In vivo CRO Market on the basis of type, GLP type, indication and the regional outlook at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2020 to 2026:
Type Outlook (Revenue: USD Billion; 2018-2028)
Rodent-Based
Rats
Mice
Others
Non-Rodent Based
Hamsters
Guinea Pigs
Others
GLP Type Outlook (Revenue: USD Billion; 2018-2028)
Non-GLP
In House
Outsourcing
GLP Toxicology
In House
Outsourcing
Indication Outlook (Revenue: USD Billion; 2018-2028)
Autoimmune/Inflammatory Conditions
Rheumatoid Arthritis
Multiple Sclerosis
Osteoarthritis
Irritable Bowel Syndrome
Others
Pain Management
Chronic Pain
Acute Pain
Oncology
Blood Cancer
Solid Tumor
Syngeneic Model
Patient Derived Xenograft
Xenograft
Others
CNS conditions
Epilepsy
Parkinson's Disease
Huntington's Disease
Stroke
Traumatic Brain Injury
ALS
Muscle Regeneration
Others
Diabetes
Obesity
Others
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