The global In Vivo Cro Market size is expected to reach USD 7.92 billion by 2030, registering a CAGR of 8.2% according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.5% during the forecast period. Increasing focus on core competencies by the pharmaceutical players coupled with economic efficiency offered for outsourcing is expected to boost the demand.
In Addition, the CROs are equipped with a competent
workforce capable of performing a diverse number of tasks along with being
well-versed through regulatory requirements. Also, the pressure from the
increasing competition owing to the rapid growth of generics, patent
expirations, and introduction of biosimilar equivalents are encouraging
pharmaceutical companies to take the aid of such organizations.
Increasing mergers and collaborations have propelled
the value of pharmaceutical outsourcing with major industry contributors
expanding into developing regions. The year 2015 experienced high valued
transactions as a result of LabCorp acquiring Covance for USD 5.5 billion and
the Chinese Private Equity Group acquiring WuXifor for USD 3.3 billion.
Related Press Release@ In Vivo CRO Market Report
In Vivo CRO Market Report
Highlights
- Rodent-based In vivo CRO led the market in 2018 and is anticipated
to remain dominant throughout the forecast period. Mice are the most used
animal for preclinical evaluation and accounted for almost 76% of the
market share in 2018.
- Based on indication, oncology held the largest market share in
2018, attributed to the increasing number of cancer cases and the focus of
pharmaceutical players on introducing novel drug treatments with fewer
side-effects
- North America led the global In vivo CRO market in 2018 owing to
the presence of technologically advanced CROs
- Asia Pacific is anticipated to register the fastest CAGR over the
forecast period. Constantly improving healthcare infrastructure, huge
patient base, presence of untapped opportunities, and economic
development, are some factors responsible for the rapid growth
- Some of the key market players include Pharmaceutical Product
Development, LLC (PPD); IQVIA; American Preclinical Services, LLC.;
Charles River Laboratories; Parexel International Corporation; ICON Plc;
Covance Inc.; Theorem Clinical research; inVentiv Health; WuXi AppTec,
Inc.; American Preclinical Services, LLC.; and Evotec (US), Inc.
Partnership and mergers and acquisitions are the key strategic
undertakings by these players
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
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