Preclinical Assets Market Set for Rapid Growth Due to Rising Pharmaceutical
The global preclinical assets market is estimated to witness high growth owing to increasing pharmaceutical research and development spending worldwide. Preclinical assets such as animal models and custom assay services help evaluate drug kinetics, toxicity, and efficacy in the development process.
The Preclinical Assets Market Demand consists of animal models and related testing services that help evaluate investigational drugs non-clinically before beginning human clinical trials. Contract research organizations and academic institutes provide preclinical research tools and services to support drug development programs. Factors such as rising pharmaceutical R&D expenditures, technological advancements in disease modeling, and growing application of personalized medicine are propelling demand for preclinical assets.
The Global preclinical assets market is estimated to be valued at US$ 4 Billion in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024-2030.
Key Takeaways
Key players operating in the preclinical assets market are Charles River Laboratories, Eurofins Scientific, Envigo, and Crown Bioscience.
Key players: Charles River Laboratories, Eurofins Scientific, Envigo, and Crown Bioscience are among the major players in the preclinical assets market. Charles River Laboratories is one of the largest providers of preclinical services globally. Eurofins Scientific offers an extensive range of toxicology and safety assessment testing for preclinical drug development.
Key opportunities: Growing industry collaborations between CROs and biopharma companies is expected to offer new opportunities for preclinical research outsourcing. Additionally, market players are investing in R&D to develop novel preclinical models for cancer, neurological disorders, and rare diseases.
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