In-vivo CRO industry is projected to witness a CAGR of 7.8% during the period 2024-2032. This growth can be attributed to stringent regulatory landscape for drug approvals.
Selbyville, Delaware, Nov. 06, 2024 (GLOBE NEWSWIRE) —
In-vivo CRO Market size is projected to reach over USD 9 billion in revenue by the end of 2032. The demand for in vivo CROs is experiencing a surge due to increasing acquisitions and heightened investments in drug development.
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Acquisitions are expanding the capabilities and resources, enabling these organizations to offer more comprehensive and advanced services. Increased investments are driving the development of cutting-edge technologies and methodologies for in vivo research while enhancing the accuracy and efficiency of drug testing.
Ongoing funding will also continue to support innovations in testing processes and improve overall research outcomes. As the field evolves, these organizations will be increasingly integral to the development of new therapies and treatments. For instance, in October 2023, ETAP-Lab announced the acquisition of SYNCROSOME. This acquisition is expanded ETAP-Lab’s capabilities in in vivo CRO services for enhancing their ability to offer advanced and comprehensive solutions for drug development and biological research.
Growing demand for non-rodent-based in-vivo CRO
Based on animal model, the non-rodent-based segment in the in-vivo CRO market is projected to expand at a significant growth rate between 2024 and 2032, owing to advancing drug development and research. These models, which include species, such as primates, rabbits, and pigs, are offering diverse and relevant insights into drug effects and biological processes that may be more similar to human conditions. By integrating non-rodent models, in vivo CROs further enhance the accuracy and applicability of their research findings. Ongoing advancements are also improving the integration of these models into study protocols for providing more comprehensive data on drug safety and efficacy.
Rising preference for microbiological testing
In-vivo CRO market from the microbiological testing service segment is expected to experience significant development at a substantial CAGR through 2032 due to increasing need to support comprehensive drug development and safety assessments. These services integrate advanced techniques to evaluate microbial contamination, efficacy of antimicrobial agents, and the impact of drugs on microbiomes. By incorporating microbiological testing, in vivo CROs further ensure a more thorough analysis of how drugs interact with microbial environments and how they influence overall health.
Asia Pacific to emerge as a lucrative market destination
Asia Pacific in-vivo CRO market is expected to witness robust progress between 2024 and 2032 due to the rising incidence of chronic diseases. The increasing prevalence of conditions, such as diabetes, cancer, and cardiovascular diseases is driving the demand for advanced research and testing services. In-vivo CROs are actively adapting their services to address the growing need for innovative drug development and disease management solutions.
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In-vivo CRO Market Players
Some of the top firms engaged in the market include Biocytogen, Crown Bioscience, Evotec SE, Charles River Laboratories International Inc., GemPharmatech Co. Ltd., IQVIA Inc., Icon Plc, Labcorp Drug Development, Parexel International Corporation, PsychoGenics Inc., and Taconic Biosciences, Inc.
These In-vivo CRO market players are increasing their launches to drive advancements in in-vivo CRO services. For instance, in August 2022, Biocytogen Pharmaceuticals (Beijing) Co., Ltd. and TRACON Pharmaceuticals, Inc. announced the FDA approval for a Phase 1/2 clinical study of YH001 with envafolimab and doxorubicin in sarcoma treatment. This study underscores the role of in-vivo CROs in advancing clinical research.
Partial Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Market scope & definitions
1.2 Research design
1.2.1 Research approach
1.2.2 Data collection methods
1.3 Base estimates & calculations
1.3.1 Base year calculation
1.3.2 Key trends for market estimation
1.4 Forecast model
1.5 Primary research and validation
1.5.1 Primary sources
1.5.2 Data mining sources
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Increasing outsourcing by pharmaceutical and biotechnology companies
3.2.1.2 Stringent regulatory landscape for drug approvals
3.2.1.3 Focus on specialised services by CRO’s
3.2.1.4 Rising demand for personalized medicine
3.2.2 Industry pitfalls & challenges
3.2.2.1 Intellectual property rights issues
3.2.2.2 Stringent regulatory policies for animal model use
3.3 Growth potential analysis
3.4 Regulatory landscape
3.5 Porter’s analysis
3.6 PESTEL analysis
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