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Global In Vivo CRO Market Report 2022: Increase in Offshoring Medical Device Manufacturing to Emerging Countries Driving Growth
Global In Vivo CRO Market
Dublin, Sept. 28, 2022 (GLOBE NEWSWIRE) -- The "Global In Vivo CRO Market Size, Share & Trends Analysis Report by Type (Rodent, Non-Rodent), by GLP Type (Non-GLP, GLP Toxicology), by Indication (Pain Management, Oncology), by Region (North America, APAC), and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global in vivo CRO market size is expected to reach USD 7.92 billion by 2030, registering a CAGR of 8.2% 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. The patent cliff, high research and development cost involved, and globalization in the clinical trial process has driven the
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.
Market Dynamics
Market Drivers
Changing Regulatory Landscape
Increase in Offshoring Medical Device Manufacturing to Emerging Countries
Rising Demand for Advanced Products
Implementation of International Standards by Contract Manufacturers
Rising Price Competition and Requirement to Reduce Cost
Increasing Complexity Concerning Product Design and Engineering
Market Restraints
Compliance Issues while Outsourcing
Changing Scenarios in Developing Countries
Regulatory and Legal Compliance
Contractual Obligation
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. In Vivo CRO Market Variables, Trends & Scope
Chapter 4. In Vivo CRO Market: Type Segment Analysis
Chapter 5. In Vivo CRO Market: GLP Type Segment Analysis
Chapter 6. In Vivo CRO Market: Indication Segment Analysis
Chapter 7. In Vivo CRO Market: Regional Analysis
Chapter 8. Competitive Landscape
Companies Mentioned
Quintiles
Charles River Laboratories
Icon Plc
Covance Inc
Paraxel International
Pharmaceutical Product Development (PPD)
Theorem Clinical Research
InVentiv Health
Wuxi AppTec, Inc
AMERICAN PRECLINICAL GLP TYPE, LLC.
EVOTEC (US), INC.
For more information about this report visit https://www.researchandmarkets.com/r/nmfwcq
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