Furthermore, the pressure from the increasing
competition due to patent expirations, rapid growth of generics, and
introduction of biosimilar equivalents are propelling the pharmaceutical
companies to take the aid of such organizations. Hence, it can be predicted
that the oncology based in-vivo CRO market may witness
lucrative growth over the forecast period.
Another factor propelling growth is the increasing
incidence of cancer, and high failure rate of existing treatment options.
According to statistics published by the World Health Organization (WHO),
approximately 8.2 million deaths are recorded each year from cancer, which
accounts for 13.0% of deaths worldwide.
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Oncology Based In-vivo CRO Market
Report Highlights
- Based on indication, solid tumors are expected to dominate the
market as of 2016. Furthermore, it is anticipated to grow at the fastest
CAGR owing to the factors such as growing incidence rate, augmenting
research for tumors in organs such as breast, and liver, and technological
advancement offered by key industry players.
- Solid tumors are analyzed by means of models such as xenograft,
Patient Derived Xenografts (PDX), and syngeneic. The PDX models are
expected to witness lucrative growth over the forecast period and capture
over 40.0% of the market share by 2025.
- Geographic expansion into Asia Pacific countries by
well-established players is anticipated to promote the fastest growth for
the region. India is one the most lucrative country owing to presence of
service tax exemption and venture capital-based funding for CROs.
- A few of the industry players for the oncology based in-vivo CRO
market are The Jackson Laboratory, Covance, Taconic Biosciences, Charles
River Laboratory, EVOTEC, Wuxi AppTec, and ICON Plc.
- A common trend observed is the rising partnerships among CROs to
offer bundled packages of services to sponsors. For instance, In May 2017,
CRL International, Inc. announced their partnership with OcellO,
established in Netherlands. According to this partnership, CRL would be
utilizing the latter’s PDX model capabilities in order to expand its
oncology-based drug discovery service portfolio.
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