Canada Preclinical Cro Market Size & Outlook, 2023-2030
Canada preclinical cro market, 2018-2030 (US$M)
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Canada preclinical cro market highlights
- The Canada preclinical cro market generated a revenue of USD 146.5 million in 2023 and is expected to reach USD 227.1 million by 2030.
- The Canada market is expected to grow at a CAGR of 6.5% 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 146.5 million |
| Market revenue in 2030 | USD 227.1 million |
| Growth rate | 6.5% (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, Canada accounted for 2.6% 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 North America, U.S. preclinical cro market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 4,228.1 million by 2030.
Toxicology testing was the largest segment with a revenue share of 26.14% in 2023. Horizon Databook has segmented the Canada 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 Government of Canada states that the country has one of the largest numbers of biotechnology companies globally. In addition, Health Canada, the regulatory body of Canada responsible for public health, supports and encourages investment in terms of clinical development & manufacturing of biopharmaceutical products. The country is considered a favorable location for preclinical trial outsourcing owing to high potential for R&D activities.
According to Statistics Canada, in 2022, the R&D of the pharmaceutical sector contributed USD 15.9 billion to the economy, which was an increase of 5.8% from USD 15.0 billion in 2019. Such R&D efforts undertaken by pharmaceutical companies in Canada are expected to boost the market in this region.
In addition, the country’s proximity to the U.S. is expected to provide a logistical advantage to local CROs, further contributing to the growth of the preclinical trial outsourcing market in Canada.
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Preclinical CRO Market Scope
Preclinical CRO Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada preclinical cro market size, by service, 2018-2030 (US$M)
Canada Preclinical CRO Market Outlook Share, 2023 & 2030 (US$M)
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