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
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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)
GLP Type (Revenue, USD Million; 2016–2026)
Indication (Revenue, USD Million; 2016–2026)
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Regional Outlook (Revenue, USD Billion; 2016-2026)
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