The Preclinical Assets Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Preclinical Assets Global Market Report 2024, The preclinical assets market size has grown strongly in recent years. It will grow from $5.32 billion in 2023 to $5.83 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to drug development needs, advancements in biotechnology, regulatory requirements, research funding growth, collaborative research efforts.
The preclinical assets market size is expected to see strong growth in the next few years. It will grow to $8.34 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to precision medicine and personalized therapies, ai and machine learning integration, biobanking expansion, focus on rare diseases, government initiatives and funding. Major trends in the forecast period include emergence of advanced imaging techniques, 3d organoid models, multi-omics integration, enhanced predictive models, automation and high throughput screening.
Increasing drug discovery is expected to propel the growth of the preclinical asset market going forward. Drug discovery refers to the process of finding chemical substances that could be used as medicinal agents. It is the process by which new candidate medications are discovered. Within this process, preclinical assets play a vital role by supplying essential data and evidence to aid in the selection of molecules for clinical development as candidates. For instance, in January 2022, according to the Regulatory Affairs Professionals Society, a US-based regulatory organization of healthcare and related products, overall, 37 drugs (74%) in 2021 were approved by the US Food and Drug Administration (FDA) through at least one expedited pathway, an increase from 68% of novel drugs in 2020. Furthermore, in June 2023, according to the Pharma R&D Annual Review 2022 published by Pharma Intelligence, a UK-based provider of tools and solutions for pharmaceutical management, the number of drugs in the R&D pipeline grew from 17,737 in 2020 to 20,109 in 2022. Therefore, increasing drug discovery is driving the growth of the preclinical assets market.
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The preclinical assets market covered in this report is segmented –
1) By Service: Bioanalysis And DMPK (Drug Metabolism and Pharmacokinetic) studies, Toxicology Testing, Compound Management, Safety Pharmacology, Other Services
2) By Model Type: Patient Derived Organoid (PDO) Model, Patient Derived Xenograft Model
3) By End User: Biopharmaceutical Companies, Government Institutes, Other End-Users
Product innovations are a key trend gaining popularity in the preclinical assets market. Major companies operating in the preclinical assets market are focused on innovating new products and solutions to strengthen their market position and gain a competitive advantage. For instance, in April 2022, Charles River Laboratories International, a US-based pharmaceutical company specializing in a variety of preclinical and clinical laboratories, and Valo Health Inc., a US-based technology company built to transform drug discovery, launched Logica, an artificial intelligence (AI)-powered drug solution that directly translates clients’ biological insights into optimized preclinical assets. Logica leverages Charles River’s superior preclinical knowledge and Valo’s AI-powered Opal Computational Platform to give clients transformed drug discovery through a single integrated offering that effortlessly translates targets to candidate nomination. By partnering with Valo, Charles River combines its laboratory expertise with molecular design technology, revolutionizing the industry to give its clients highly qualified leads and candidates while connecting client costs to value creation.
The preclinical assets market report table of contents includes:
1. Executive Summary
2. Preclinical Assets Market Characteristics
3. Preclinical Assets Market Trends And Strategies
4. Preclinical Assets Market – Macro Economic Scenario
5. Global Preclinical Assets Market Size and Growth
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26. South America Preclinical Assets Market
27. Brazil Preclinical Assets Market
28. Middle East Preclinical Assets Market
29. Africa Preclinical Assets Market
30. Preclinical Assets Market Competitive Landscape And Company Profiles
Top Major Players:
- Laboratory Corporation of America
- IQVIA Inc
- ICON PLC
- Eurofins Scientific SE
- PPD Inc
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