New York, July 29, 2019 (GLOBE NEWSWIRE) -- High prevalence of target diseases, immense funding for carrying out R&D activities, increasing strategic developments such as partnerships and agreements are key factors contributing to high CAGR of In vivo CRO Market during forecast period.
According to the current analysis of Reports and Data, the global In vivo CRO Market was valued at USD 3072.2 Million in 2018 and is expected to reach USD 5786.4 Million by year 2026, at a CAGR of 8.4%. In vivo contract research organization (CRO) is a company that offers support to the pharmaceutical, biotechnology, and medical device industries in the form of research services outsourced on a contractual basis.
With the growing approval of biologics over small molecule drugs, there is huge development in biosimilars industry which is driving the market of CRO which in turn is expected to increase the number of R&D activities undertaken by the companies to commercialize the generic molecule. Toxicology and pharmacokinetic studies are the most commonly outsourced activities of preclinical studies by tier 1 pharmaceutical and biotechnology companies because of its the time and cost efficiency provided by the CROs. Increasing demand for CRO services is fostering the growth of employment in new clinical research jobs and hence clinical recruitment agencies in major hubs throughout Europe, the USA, and emerging markets in Asia Pacific countries.
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Further key findings from the report suggest
- The American Clinical Laboratory Association (ACLA) states that more than 7.5 billion lab tests are performed in U.S. annually and 80% of clinical decisions are taken after lab testing
- In December 2018, BTS Research has partnered with BioLaurus Inc. , an advanced molecular imaging group to bring new research capabilities to our pharma research clients.
- In vivo CRO Market is fastest growing at a CAGR of 9% in Asia Pacific owing to improving healthcare infrastructure, huge patient base, presence of untapped opportunities
- GLP-based toxicology is dominating the market valued at USD 2018.1 million in 2018 owing to the fact that CRO firms comply with GLP guidelines
- Europe is the second largest region with a CAGR of 8.2% due to increasing number of R&D activities in clinical phase and favourable government policies regarding drug approval
- Based on indication, Pain management is the fastest growing segment in 2018 at a CAGR of 10.2% due to the demand for increasing incidences of chronic conditions which leads to severe pain
- North America is expected to account for the 48% of the global In vivo CRO Market million owing to increasing R&D activities and need to reduce overall trial expenditure
- Some of the key players are Charles River Laboratories, Chiltern International Ltd., Parexel International, Pharmaceutical Product Development, LLC (PPD) and PRA Health Sciences
- Solid tumours division is projected to dominate and lead the global oncology based in-vivo CRO market owing to liver and breast tumours and technological developments offered by major industry players are contributing to the popularity of the division
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/in-vivo-cro-market
Segments covered in the report:
For the purpose of the study, this Reports and Data have segmented the Global In vivo CRO Market on the basis of type, GLP type, indication and the regional outlook:
Type (Revenue, USD Million; 2016–2026)
- Rodent-Based
- Rats
- Mice
- Others
- Non-Rodent Based
- Hamsters
- Guinea Pigs
- Others
GLP Type (Revenue, USD Million; 2016–2026)
- Non-GLP
- In House
- Outsourcing
- GLP Toxicology
- In House
- Outsourcing
Indication (Revenue, USD Million; 2016–2026)
- 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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Regional Outlook (Revenue, USD Billion; 2016-2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Spain
- France
- Italy
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Middle East and Africa (MEA)
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