Preclinical CRO Market: Global Opportunity Analysis and Industry Forecast, 2021–2027

A preclinical CRO or preclinical contract research organization provides the experience, knowledge, and skill required to take a pharmaceutical product or medical device from the drawing board to distribution. This journey entails a plethora of activities that involve scientists, medical personnel, administrators, governmental & industry liaisons, marketing experts, and a host of other technical and creative individuals. The CRO industry emerged to provide the expertise required to bring a pharmaceutical product or medical device into the marketplace as quickly and smoothly as possible. The continental divide in CROs is preclinical and clinical. The former consists of subdivisions largely grouped into drug screening/design control, compound synthesis/device manufacturing, toxicology/biocompatibility, and efficacy/functional repair. The latter has operations in a flow of phases in human trials to meet regulatory requirements. Moreover, the medical industry executives have realized that a faster turnaround to their investment in R&D may come from joint ventures with similar-minded competitors. It is well known that unbiased data should be generated by an independent third party to convince corporate partners and regulatory bodies. 

COVID-19 scenario analysis:

• Pharmaceutical and biotech companies together with governments across the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicines supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. 
• Moreover, commonly used drugs, such as hydroxychloroquine, have witnessed dramatic surge in demand for the treatment of COVID-19. Such high demand for these drugs has presented huge opportunity for manufacturers of COVID-19 drugs as many developed countries are short of these drugs. 
• The pharmaceutical and biotechnology industry is expected to witness significant growth in the future, owing to the demand for vaccine and treatment drugs for COVID-19. To conduct clinical trials of COVID-19, the sample product needs to be transported from one country to another; however, due to the pandemic, import-export between countries is prohibited. Therefore, majority of healthcare, pharmaceutical, and biotechnology organizations have concentrated on diagnostics kits, safety wearables (PPE kits, face shields, masks), treatment therapies, and medication to fight against the novel coronavirus. This is expected to increase the use of preclinical CRO. 

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

The market is expected to experience growth due to increase in R&D expenditure and rise in outsourcing trend, which are expected to increase the demand for preclinical trials in the future. Increase in competition between top players leads to rise in use of preclinical CRO market. As companies try to introduce new and advanced products, they need do complete their study regarding competitors. In addition, clinical trial is an important phase before introducing any product and to get better results, companies depend on contract research organizations. In addition, with increase in new and complex microorganism causing different diseases, complex drugs are entering clinical trials and increasing R&D expenses. These are some of the factors responsible for the preclinical Contract Research Organization (CRO) growth. Therefore, increase in technology and advancements in healthcare infrastructure are expected to foster the preclinical CRO market growth. 

Top CROs and their services

Envigo Corporation provides the broadest range of research models and related services to the pharmaceutical and biotechnology industries, government, academia, and other life science organizations. Envigo Corporation uses different research models, such as browse research models, search research models, models by therapeutic area, oncology model sampling program, and pricing, to provide consulting to companies. Research services provided by Envigo include genetically engineered models & services, full spectrum health monitoring, custom antibody production services, biological products & services, contract breeding services, genetic testing services, pharmaceutical development, surgical services, research model support services, and others. IQVIA is an American multinational company serving the combined industries of health information technology and clinical research. It is a provider of biopharmaceutical development and commercial outsourcing services, focused primarily on Phase I-IV clinical trials, associated laboratory, and analytical services, including consulting services. Furthermore, IQVIA uses a new technology IQVIA CORE to provide best services to its customers.

Key benefits of the report:

• This study presents the analytical depiction of the preclinical CRO market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the preclinical CRO market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the preclinical CRO market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the preclinical CRO market research report:

• Which are the leading market players active in the market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the preclinical CRO market?
• What are the projections for the future that would help in taking further strategic steps?

 Key Market Segments

 
Key Market Players

• Envigo Corporation
• MPI Research
• Eurofins Scientific
• IQVIA
• PAREXEL International Corporation
• Charles River
• ICON PLC
• PRA Health Sciences
• Medpace
• Laboratory Corporation of America Holdings
• Pharmaceutical Product Development, LLC
• WuXi AppTec
• MD Biosciences