Dublin, Oct. 15, 2021 (GLOBE NEWSWIRE) -- The "Global Oncology Based In-vivo CRO Market Size, Share & Trends Analysis Report by Indication (Blood Cancer, Solid Tumor), by Model (Syngeneic Model, Patient Derived Xenograft (PDX), Xenograft), by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global oncology based in-vivo CRO market is expected to reach USD 1.9 billion by 2028 and is expected to expand at a CAGR of 8.2% from 2021 to 2028.
The use of Contract Research Organization (CRO) oncology services helps the manufacturers/sponsors to provide complete attention on the production capacity and at enhancing their in-house processes.
Furthermore, the pressure from the increasing competition due to patent expirations, rapid growth of generics, and introduction of biosimilar equivalents are propelling the pharmaceutical companies to take the aid of such organizations. Hence, it can be predicted that the oncology based in-vivo CRO market may witness lucrative growth over the forecast period.
Another factor propelling growth is the increasing incidence of cancer, and high failure rate of existing treatment options. According to statistics published by the World Health Organization (WHO), approximately 8.2 million deaths are recorded each year from cancer, which accounts for 13.0% of deaths worldwide.
Oncology Based In-vivo CRO Market Report Highlights
- Based on indication, solid tumors are expected to dominate the market as of 2016. Furthermore, it is anticipated to grow at the fastest CAGR owing to the factors such as growing incidence rate, augmenting research for tumors in organs such as breast, and liver, and technological advancement offered by key industry players.
- Solid tumors are analyzed by means of models such as xenograft, Patient Derived Xenografts (PDX), and syngeneic. The PDX models are expected to witness lucrative growth over the forecast period and capture over 40.0% of the market share by 2025.
- Geographic expansion into Asia Pacific countries by well-established players is anticipated to promote the fastest growth for the region. India is one the most lucrative country owing to presence of service tax exemption and venture capital-based funding for CROs.
- A few of the industry players for the oncology based in-vivo CRO market are The Jackson Laboratory, Covance, Taconic Biosciences, Charles River Laboratory, EVOTEC, Wuxi AppTec, and ICON Plc.
- A common trend observed is the rising partnerships among CROs to offer bundled packages of services to sponsors. For instance, In May 2017, CRL International, Inc. announced their partnership with OcellO, established in Netherlands. According to this partnership, CRL would be utilizing the latter's PDX model capabilities in order to expand its oncology-based drug discovery service portfolio.
Market Dynamics
Market Driver Analysis
- Accelerating the time to market
- Economic efficiency
- Increasing mergers and collaborations
- Increasing outsourcing of R&D Activities
Market Restraint Analysis
- Quality issues with CRO
- Presence of suiTable alternative
- Oncology In-vivo CRO Market Analysis Tools
- Porter's Five Forces Analysis
- PESTEL Analysis
Companies Mentioned
- Charles River Laboratory (CRL)
- ICON Plc
- Covance
- Eurofins Scientific
- Taconic Biosciences
- Crown Bioscience
- Toxikon, Inc.
- WuXi AppTec
- EVOTEC
- The Jackson Laboratory
For more information about this report visit https://www.researchandmarkets.com/r/vzgq2q
