In vivo CROs are an important part of pharmaceutical and biotechnology product development. In vivo CROs conduct pre-clinical research studies using animals and living systems to test medical devices, drugs, and other products under development for safety and efficacy before human clinical trials can begin. This helps understand how the body absorbs, distributes, metabolizes, and excretes chemical substances. In vivo CRO services provide substantial benefits to drug developers like access to specialized models, experienced medical experts, and state-of-the-art infrastructure which otherwise would require significant investment in resources. Due to advantages like time and cost savings, reduced risk of failure in clinical trials, and ensuring safety and ethical standards in animal research, the demand for outsourcing in vivo testing is growing.
The Global In Vivo CRO Market is estimated to be valued at US$ 8.31 Bn in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period between 2024 to 2031.
Key Takeaways
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.
The increasing research activities in biopharmaceutical companies and rising investments in R&D present significant opportunities for players in the market. In vivo CROs are expanding globally to address the needs of the growing pharmaceutical industry across regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Rising R&D investments by pharmaceutical and biotechnology companies is the key driver for the In Vivo CRO Market Growth. According to statistics, global R&D spending in the pharmaceuticals and biotechnology industry is estimated to reach $200 billion by 2024. With a significant portion of drug development budgets spent on pre-clinical research, the demand for specialized in vivo CRO services continues to increase around the world.
Market drivers: The major market driver is the rising pre-clinical research activities globally. Pharmaceutical companies are increasingly outsourcing pre-clinical research studies to in vivo CROs owing to benefits like reduced costs and timely delivery. This is positively impacting the growth of the in vivo CRO market.
PEST Analysis
Political: Regulations set by the Food and Drug Administration (FDA) and comparable regulatory bodies globally have strict quality standards for preclinical and clinical trial data generated by CROs to ensure patient safety. This drives demand for quality and compliance.
Economic: Rising healthcare expenditures globally are fueling investments in new drug development, thereby driving demand for specialized preclinical and clinical research services offered by In Vivo CRO Market Analysis to expedite drug development.
Social: Growth in lifestyle diseases and chronic conditions like cancer, diabetes etc. are driving demand for new treatment options, increasing pressure on pharmaceutical companies to accelerate drug development through partnerships with CROs.
Technological: Advancements in areas like AI, imaging, biomarkers etc. enable more efficient drug development workflows. CROs are investing in these technologies to enhance service capabilities and help clients optimize costs and timelines.
The market in terms of value is currently concentrated in regions with high expenditure on pharmaceutical R&D – North America (US and Canada) accounted for over 40% share in 2024 owing to presence of major pharmaceutical companies and biotechs. Europe comes second due to presence of sizable pharma industry and growing Biotech sector in countries like UK, Germany and Switzerland.
The Asia Pacific region is poised to become the fastest growing market between 2024-2031 at a CAGR of around 11%. This is driven by government initiatives to boost local clinical research industry, growing contract research opportunities from Western companies looking to expand into emerging Asia, as well as increasing localized drug development activities of regional pharma companies and biotechs centered around China and India.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author – Money Singh
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, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile