Preclinical CRO Market Size To Reach $10.26 Billion By 2030

Preclinical CRO Market Growth & Trends

The global preclinical CRO market size is expected to reach USD 10.26 billion by 2030, registering a CAGR of 8.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is expected to show lucrative growth due to increasing R&D expenditure and rising outsourcing trends. The increasing volume of new drugs entering the preclinical phase is also anticipated to boost the market during the forecast period. However, the COVID-19 pandemic had temporarily affected the market owing to the shutdown of research sites due to the implementation of national lockdowns.

The market is undergoing a series of mergers and acquisitions, resulting in improvement in full-service capabilities and the international reach of larger companies. For instance, in 2019, WuXi AppTec acquired Pharmapace. On the other hand, mid-sized and smaller contract research organizations are focusing on niche sectors and are providing a personalized approach to their sponsors. Various companies are focusing on research and development of new drugs and therefore are outsourcing these activities to launch efficient CRO services in the market. This, in turn, provides a positive atmosphere for joint ventures among market participants owing to the preference of sponsors to maximize their benefits.

The COVID-19 pandemic is ever increasing since the disease was first identified in China in December 2019. Until March 9, 2022, more than 4500 million cases of COVID-19 were reported globally; this pandemic has fast-tracked the development of vaccines and drug testing. There are currently over 195 COVID-19 vaccine candidates in preclinical studies.

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Preclinical CRO Market Report Highlights

• The toxicology testing segment accounted for the largest share of more than 25.4% in 2023 due to its significance in Investigational New Drug (IND)-enabling studies

• The Patient Derived Organoid (PDO) Model segment held the largest share of 80.6% in 2023, owing to the high accuracy obtained by this model

• The government and academic institutes segment is anticipated to witness the fastest CAGR of 9.1% during the forecast period. This growth is credited to the rising government initiatives in the healthcare sector, especially in developing economies

• North America held the highest revenue share of the global market in 2023. Huge investments in healthcare R&D, coupled with well-developed healthcare infrastructure in the U.S., contributed to the market growth in North America. Asia Pacific is projected to expand with the fastest CAGR of 11.6% during the forecast period.

Preclinical CRO Market Segmentation

Grand View Research has segmented the global preclinical CRO market based on service, model type, end-use, and region:

Preclinical CRO Service Outlook (Revenue, USD Billion, 2018 - 2030)

• Bioanalysis and DMPK studies

  • In vitro ADME

  • In-vivo PK

• Toxicology Testing

  • GLP

  • Non-GLP

• Compound Management

  • Process R&D

  • Custom Synthesis

  • Others

• Chemistry

  • Medicinal Chemistry

  • Computation Chemistry

• Safety Pharmacology

• Others

Preclinical CRO Model Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Patient Derived Organoid (PDO) Model

• Patient derived xenograft model

Preclinical CRO End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• Biopharmaceutical Companies

• Government and Academic Institutes

• Medical Device Companies

Preclinical CRO Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

  • Italy

  • Spain

  • Sweden

  • Norway

  • Denmark

• Asia Pacific

  • Japan

  • China

  • India

  • South Korea

  • Australia

  • Thailand

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List Of Key Players Preclinical CRO Market

• Eurofins Scientific

• PRA Health Sciences, Inc.

• Wuxi AppTec

• Medpace, Inc.

• Charles River Laboratories International, Inc.

• PPD (Thermo Fisher Scientific, Inc.)

• SGA SA

• Intertek Group Plc (IGP)

• LABCORP

• Crown Bioscience