Dublin, March 07, 2024 (GLOBE NEWSWIRE) -- The "Preclinical Assets Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global preclinical assets market has entered a period of promising expansion, with recent data indicating a continued trajectory of growth. Analysts project that the market, which stood at $5.32 billion in 2023, is poised to climb to $5.83 billion in 2024, marking a robust compound annual growth rate (CAGR) of 9.7%.
Further analysis suggests the industry is set to witness an increase to $8.34 billion by 2028 with a steady CAGR of 9.3%. This growth largely stems from advancements in precision medicine, personalized therapies, and heightened investments in AI and machine learning. These technologies accelerate drug discovery initiatives and enhance the efficiency of preclinical studies.
Latest Trends and Developments in Preclinical Asset Services
- Adoption of advanced imaging and predictive models
- Increased automation in high-throughput screening
- Integrative approaches using multi-omics data
- Growth in biobanking and focus on rare diseases
The preclinical phase is vital to the drug discovery process, offering insights that inform the progression of compounds to clinical evaluation. Strategic alliances and product innovation among leading market players are enhancing the scope and quality of preclinical assets. Noteworthy partnerships and acquisitions are redefining the competitive landscape and fueling advancements within the sector.
North America remains the most significant contributor to market size, while the Asia-Pacific region experiences the fastest growth. The burgeoning pharmaceutical industry and increasing support from government initiatives in these regions are key factors propelling market advancement.
Key Market Segments
- Bioanalysis and DMPK Studies
- Toxicology Testing
- Compound Management
- Safety Pharmacology
These services are implemented by various end-users like biopharmaceutical companies and governmental research institutes, reflecting the market's extensive reach. Progressive preclinical asset services facilitate drug development, ensuring that novel therapeutics are both effective and safe for human use.
The in-depth market research report provides a rigorous exploration of the current trends, projected growth patterns, and future prospects within the preclinical assets sector. It stands as a crucial resource for stakeholders seeking to understand the dynamics of the market and leverage opportunities for innovation and strategic growth.
The global preclinical assets market is poised for significant growth, driven by relentless advances in drug discovery and the strategic maneuvers of top industry players. As this market continues to evolve, so too will the opportunities for businesses within the pharmaceutical and biotechnology arenas to pioneer new territories in drug development and medical research.
For inquisitive minds and industry leaders, this latest research publication offers a detailed compass to navigate the complexities of the preclinical assets market, presenting a collected amalgamation of data for strategic decision-making and foresight.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $5.83 Billion |
| Forecasted Market Value (USD) by 2028 | $8.34 Billion |
| Compound Annual Growth Rate | 9.3% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
- Laboratory Corporation of America
- IQVIA Inc.
- ICON PLC
- Eurofins Scientific SE
- PPD Inc.
- SGS SA
- WuXi AppTec Co. Ltd.
- Intertrek Group PLC
- Charles River Laboratories International Inc.
- Medpace Inc.
- Pharmaron Beijing Co. Ltd.
- Evotec SE
- GenScript Biotech Corporation
- Inotiv Inc.
- SRI International Inc.
- Shanghai Medicilon Inc.
- Biocytogen Pharmaceuticals Beijing Co. Ltd.
- AmplifyBio LLC
- BioReliance Corporation
- Pharmalegacy Laboratories Co. Ltd.
- Precigen Inc.
- ReproCELL Incorporated
- InSphero AG
- Crown Bioscience Inc.
- Comparative Biosciences Inc.
- TCG Lifesciences Pvt. Ltd.
- InVivo Biosystems
- Pharmatest Services Ltd
- Domainex Limited
- Viroclinics Xplore
Key Topics Covered
- Executive Summary
- Preclinical Assets Market Characteristics
- Preclinical Assets Market Trends and Strategies
- Preclinical Assets Market - Macro Economic Scenario
- Global Preclinical Assets Market Size and Growth
- Preclinical Assets Market Segmentation
- Preclinical Assets Market Regional and Country Analysis
- Asia-Pacific Preclinical Assets Market
- China Preclinical Assets Market
- India Preclinical Assets Market
- Japan Preclinical Assets Market
- Australia Preclinical Assets Market
- Indonesia Preclinical Assets Market
- South Korea Preclinical Assets Market
- Western Europe Preclinical Assets Market
- UK Preclinical Assets Market
- Germany Preclinical Assets Market
- France Preclinical Assets Market
- Italy Preclinical Assets Market
- Spain Preclinical Assets Market
- Eastern Europe Preclinical Assets Market
- Russia Preclinical Assets Market
- North America Preclinical Assets Market
- USA Preclinical Assets Market
- Canada Preclinical Assets Market
- South America Preclinical Assets Market
- Brazil Preclinical Assets Market
- Middle East Preclinical Assets Market
- Africa Preclinical Assets Market
- Preclinical Assets Market Competitive Landscape and Company Profiles
- Preclinical Assets Market Other Major and Innovative Companies
- Global Preclinical Assets Market Competitive Benchmarking
- Global Preclinical Assets Market Competitive Dashboard
- Key Mergers and Acquisitions in the Preclinical Assets Market
- Preclinical Assets Market Future Outlook and Potential Analysis
- Appendix
For more information about this report visit https://www.researchandmarkets.com/r/1ex65m
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