In vivo CRO Market Size to Hit USD 6.44 Billion in 2028
The global in vivo CRO market size reached USD 3.61 Billion in 2020 and is expected to reach USD 6.44 Billion in 2028 and register a CAGR of 8.6% over the forecast period, according to latest analysis by Reports and Data. The in vivo CRO market revenue growth is fueled by various factors including increasing demand for the CROs (Contract Research Organization) in pharmaceutical drug development, rising price competition among companies, and growing requirement to reduce cost combined with rising demand for advanced products. Additionally, changing regulatory policies in several organizations, and increasing chronic medical conditions are some of the factors also expected to contribute to the revenue growth of the global in vivo CRO market during the forecast period. Furthermore, the in vivo CRO market revenue growth is increasing at a significant extent, as drug manufacturers increases their pipeline products in order to develop as well as manufacture new molecule to sustain in the market with good profit, and with a patent product.
In vivo CRO refers to the preclinical testing performed for disease pathology and drug discovery. They provide valuable information about the collection and investigation of data for the development of new drugs required in the treatment of several indications such as diabetes, autoimmune disorders, cancer, and others. Moreover, Contract Research Organization (CRO) services benefit various sponsors/manufacturers to focus completely on the production capacity, augmenting their in-house processes. Furthermore, the availability of a wide range of services from drug discovery to post-marketing surveillance has made it easy for small-scale and mid-size biotechnological and pharmaceutical companies in outsourcing other services which are beyond their core expertise.
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However, several factors affecting the revenue growth of the in vivo CRO market include shifting preference of pharmaceutical industries toward the outsourcing clinical as well as preclinical trials to focus on their core business, and high cost for the clinical trials, and quality issue of the CRO. Moreover, the in vivo CRO market revenue growth is further hampered by other factors, such as the presence of suitable animal for specific tests.
Further key findings in the report
- Based on product type, the rodent based in vivo CRO testing segment accounted for the largest revenue share in the global market in 2020. Factors such as better correlation with the human system, and abundant availability of genetically modified species are majorly driving this segment revenue growth. Among rodent based testing, mice are the most extensively used animal.
- In terms of indication type, the oncology segment is predicted to hold the largest revenue share in the global market going ahead, owing to the increasing incidence of cancer cases globally, and rising focus of pharmaceutical players on introducing new drugs with fewer side-effects for treating cancer.
- North America market dominated other regional markets in terms of revenue share in 2020 with major contribution from U.S. Moreover, growing funding has further boosted the research activities in the region. Increasing healthcare spending, and availability of funding and grants from government organizations such as the National Institute of Health (NIH) to foster research activities are a few factors also promoting the revenue growth of the regional market. Rising R&D activities, and growing need for reducing overall trial expenditure are the two major factors expected to augment the demand for in vivo CROs in North America.
The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as shortage of medicines, vaccines, healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
Pharmaceutical Product Development, LLC (PPD), Quintiles, ICON Plc., Parexel International, American Preclinical Services, LLC, Covance Inc., Theorem Clinical research, WuXi AppTec, Inc., inVentiv Health, Evotec (US), Inc., and Charles River Laboratories.
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In vivo CRO Market Segmentation:
Product Type Outlook (Revenue, USD Billion, 2018 - 2028)
- Rodent Based
- Non-Rodent Based
- Guinea Pigs
GLP Type Outlook (Revenue, USD Billion, 2018 - 2028)
- Non GLP
- In House
- GLP Toxicology
- In House
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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