Oncology Based In-Vivo Cro Market Is Expected To Reach USD 1.9 Billion By 2028
Oncology Based In-vivo CRO Industry Overview
The global oncology based in-vivo CRO market size was valued at USD 995.5 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.2% from 2021 to 2028. The increasing frequency of outsourcing of R&D activities by major pharmaceutical companies to focus on their core competencies is a high-impact-rendering driver for market growth. Furthermore, the economic efficiency offered by CROs rather than conducting an in-house study is likely to boost their demand over the forecast period.
The oncology based in-vivo CRO activities were heavily disrupted in 2020 owing to the repercussions of the COVID-19 pandemic. As of 29 July 2021, there are over 196,723,561 COVID-19 cases resulting in more than 4,203,952 deaths across the globe. Several clinical trials were delayed owing to the ongoing pandemic. Cancer patients are vulnerable to COVID and are at high risk for contracting severe consequences from the disease. According to the International Agency for Research on Cancer (IARC) the global cancer burden is of over 19.3 million cases in 2020.
Gather more insights about the market drivers, restrains and growth of the Global Oncology Based In-vivo CRO market
The challenge in front of healthcare providers is to limit exposure of their patients and patients’ caregivers to COVID patients as well as asymptomatic carriers while continuing to ensure access to clinical trials. However, the future seems good for the market with the emergence of telehealth and virtual clinical trials. Such technologies allow CRO activities while ensuring the safety of cancer patients. Furthermore, regulatory bodies such as the U.S. FDA have issued guidance and developed new policies to cope up with the current scenario and solve the problem of bottlenecked clinical trials.
The present business scenario is witnessing rapid changes in the marketplace and consumer preferences are pushing the players to innovate and generate better-performing products at a faster rate to sustain. CROs have developed their products and services such that they help manufacturers in gaining momentum with their R&D processes and overcoming any hurdles that they may face. Owing to their proficiency and years of experience in the business, they perform the given tasks at an exceptionally fast speed. According to a survey conducted by Tufts Center for the Study of Drug Development (CSDD), among the top management of the major pharmaceutical companies, more than 75.0% of executives said that CROs are more time-efficient in comparison to the internal teams, thereby increasing the need for outsourcing.
Pharmaceutical organizations are increasingly outsourcing R&D activities to CROs to stay competitive and flexible in the world of growing knowledge, gradually sophisticated technologies, and unstable economic environment. The tasks that companies prefer to outsource include a wide range of activities from basic research to late-stage development such as target validation, hit exploration and lead optimization, genetic engineering, assay development safety, and efficacy tests in animal models as well as clinical trials involving humans.
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Oncology Based In-vivo CRO Market Segmentation
Grand View Research has segmented the global oncology based in-vivo CRO market on the basis of indication, and region:
Oncology Based In-vivo CRO Indication Outlook (Revenue, USD Million, 2016 - 2028)
- Blood cancer
- Syngeneic model
- Patient Derived Xenograft (PDX)
- Xenograft
- Solid tumors
- Syngeneic model
- Patient Derived Xenograft (PDX)
- Xenograft
- Others
- Syngeneic model
- Patient Derived Xenograft (PDX)
- Xenograft
Oncology Based In-vivo CRO Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Market Share Insights
- January 2020: Charles River Laboratories collaborated with Takeda Pharmaceutical Company to identify & develop preclinical candidates and acquired HemaCare Corporation for USD 380.0 million. HemaCare Corporation is likely to become a part of the company’s research models and services segment.
Key Companies profiled:
Some prominent players in the global Oncology Based In-vivo CRO market include
- Charles River Laboratory
- ICON Plc
- Covance
- Eurofins Scientific
- Taconic Biosciences
- Crown Bioscience
- Toxikon, Inc.
- WuXi AppTec
- EVOTEC
- The Jackson Laboratory
Order a free sample PDF of the Oncology Based In-vivo CRO Market Intelligence Study, published by Grand View Research.
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