Market revenue in 2023 | USD 5,715.0 million |
Market revenue in 2030 | USD 9,675.8 million |
Growth rate | 7.8% (CAGR from 2023 to 2030) |
Largest segment | Toxicology testing |
Fastest growing segment | Bioanalysis and DMPK studies |
Historical data covered | 2018 - 2022 |
Base year for estimation | 2023 |
Forecast period covered | 2024 - 2030 |
Quantitative units | Revenue in USD million |
Market segmentation | Bioanalysis and DMPK studies, Toxicology Testing, Compound Management, Chemistry, Safety Pharmacology |
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The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to preclinical cro market will help companies and investors design strategic landscapes.
toxicology testing was the largest segment with a revenue share of 25.38% in 2023. Horizon Databook has segmented the Global preclinical cro market based on bioanalysis and dmpk studies, toxicology testing, compound management, chemistry, safety pharmacology covering the revenue growth of each sub-segment from 2018 to 2030.
The geographical distribution of R&D activities is slowly shifting from developed nations to emerging countries. Rising R&D expenditure coupled with an increase in failure rates of R&D activities has caused biopharmaceutical companies to prefer regions such as Central and Eastern Europe, Asia Pacific, and Latin America & Middle East for ensuring cost saving and quick patient recruitment.
Outsourcing of preclinical trials to regions such as Asia Pacific also provides greater economic benefits to biopharmaceutical companies. Governments of countries such as Singapore and China are allocating funds to promote biomedical research in this region.
Besides, as a large number of clinical trials are being conducted in countries of Asia Pacific and Latin America regions, preclinical trials are also expected to follow the same trend. This would allow preclinical testing to be conducted in close proximity to central development centers conducting clinical trials.
Horizon Databook provides a detailed overview of global-level data and insights on the Global preclinical cro market , including forecasts for subscribers. This global databook contains high-level insights into Global preclinical cro market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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