Australia Preclinical Cro Market Size & Outlook, 2023-2030
Australia preclinical cro market, 2018-2030 (US$M)
Related Markets
Australia preclinical cro market highlights
- The Australia preclinical cro market generated a revenue of USD 37.2 million in 2023 and is expected to reach USD 75.1 million by 2030.
- The Australia market is expected to grow at a CAGR of 10.5% from 2024 to 2030.
- In terms of segment, toxicology testing was the largest revenue generating service in 2023.
- Bioanalysis and DMPK studies is the most lucrative service segment registering the fastest growth during the forecast period.
Preclinical cro market data book summary
| Market revenue in 2023 | USD 37.2 million |
| Market revenue in 2030 | USD 75.1 million |
| Growth rate | 10.5% (CAGR from 2023 to 2030) |
| Largest segment | Toxicology testing |
| Fastest growing segment | Bioanalysis and DMPK studies |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Bioanalysis and DMPK studies, Toxicology Testing, Compound Management, Chemistry, Safety Pharmacology |
| Key market players worldwide | Eurofins Scientific SE, Icon PLC, Wuxi AppTec Co Ltd, Medpace Holdings Inc, Charles River Laboratories International Inc, Thermo Fisher Scientific Inc, Intertek Group PLC, Labcorp Holdings Inc, Crown Bioscience, SGA |
Other key industry trends
- In terms of revenue, Australia accounted for 0.7% of the global preclinical cro market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China preclinical cro market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 654.3 million by 2030.
Toxicology testing was the largest segment with a revenue share of 22.58% in 2023. Horizon Databook has segmented the Australia 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.
Australia country is highly cost competitive as compared to the U.S. for early phase clinical trials. It is 28% cheaper than the U.S. before tax incentives and 60% after tax incentives. The country has a simplified regulatory process for the approval of preclinical and clinical trials.
It operates a Clinical Trial Notification scheme, which means that the regulator delegates the trial review process to ethics committees and only needs to be notified of the outcome. This, in turn, minimizes the regulatory burden on sponsors of the clinical trial, enabling them to save time & money. The Australian government is also implementing reforms to reduce study start-up times and standardize overall clinical trial costs.
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Preclinical CRO Market Scope
Preclinical CRO Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia preclinical cro market size, by service, 2018-2030 (US$M)
Australia Preclinical CRO Market Outlook Share, 2023 & 2030 (US$M)
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