The in vivo CRO market involves contract research organizations that conduct preclinical studies and animal testing to assess the safety and efficacy of potential drugs and medical devices. In vivo studies provide crucial insight into how a drug or treatment might affect a living organism. They help identify adverse effects and understand how a therapy acts within a biological system. Growing pharmaceutical R&D expenditures to develop innovative therapies have increased demand for in vivo CRO services.
The global in vivo CRO market is estimated to be valued at USD 4.70 Bn in 2024 and is expected to reach USD 8.31 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031.
Key players operating in the in vivo CRO market include IQVIA Inc., Crown Bioscience, Taconic Biosciences, Inc., PsychoGenics Inc., Evotec, Janvier Labs, Biocytogen Boston Corp, GemPharmatech, Charles River Laboratories, Icon Plc, Labcorp Drug Development, Parexel International Corporation, SMO Clinical Research (I) Pvt Ltd., WuXi AppTec, ICON plc, and Syneos Health.
Key Takeaways
Key players: Key players operating in the in vivo CRO market are IQVIA Inc., Crown Bioscience, Taconic Biosciences, Inc., PsychoGenics Inc., Evotec, Janvier Labs, Biocytogen Boston Corp, GemPharmatech, Charles River Laboratories, Icon Plc, Labcorp Drug Development, Parexel International Corporation, SMO Clinical Research (I) Pvt Ltd., WuXi AppTec, ICON plc, and Syneos Health. They provide extensive capabilities across various therapeutic areas and model types.
Key opportunities:
Increasing R&D investments in cell and gene therapies as well as medical devices present lucrative opportunities for In Vivo CRO Market Growth to support development programs. Growing outsourcing of non-core preclinical services also allows pharmaceutical companies to focus on drug innovation.
Global expansion:
Leading CROs are expanding geographically to capitalize on the rapid growth in clinical research in emerging markets like Asia Pacific and Latin America. They are establishing new facilities and capabilities in these regions to better serve the needs of global biopharmaceutical sponsors.
Market Drivers
Heavy investments in pharmaceutical R&D: Large biopharmaceutical companies continue to increase R&D spending aimed at developing novel drug candidates. This drives significant demand for in vivo CRO services to facilitate preclinical testing requirements.
Complex trial protocols: Modern drug development studies employ sophisticated testing methods and demand specialized areas of expertise. In vivo CROs help sponsors access advanced technical capabilities and scientist skills.
Stringent regulatory compliance: Heightened regulatory oversight necessitates thorough preclinical safety assessments and documentation practices that CROs are well-equipped to deliver. Their expertise ensures compliance with standards set by health authorities.
PEST Analysis
Political: Regulations regarding preclinical testing and clinical trials have a significant impact on the In Vivo CRO Market Analysis. Stringent rules defined by agencies like FDA and EMA impact the demand and supply of in vivo CRO services.
Economic: Fluctuations in the economic conditions affect R&D spending by biopharmaceutical companies. Rise in healthcare expenditure increases the demand for new drugs driving the need for in vivo CRO services.
Social: Growing acceptance of outsourcing non-core activities enables biotech/pharma companies to focus on drug development. Increasing disease burden increases the need for new treatments boosting the in vivo CRO market.
Technological: Advancements in animal models, imaging techniques and data analytics help accelerate drug discovery. 3D bioprinting and Organ-on-a-chip models provide human-relevant data lowering reliance on animal testing.
The North American region currently holds the major share of the in vivo CRO market in terms of value. Large number of pharmaceutical companies, increasing R&D investments and presence of key market players drive the market in this region. The Asia Pacific region is expected to be the fastest growing market for in vivo CRO during the forecast period. Lower cost of operations and growing pharmaceutical industry attract biotech companies to outsource research activities in this region.
Countries like China and India offer expanding opportunities for contract research organizations due to availability of skilled professionals and supportive government policies. Harmonization of regulatory guidelines with international standards has improved the quality of preclinical research conducted in Asia. These factors are likely to propel the growth of the in vivo CRO market in the Asia Pacific region.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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