Preclinical Assets Market Growth Outlook Through 2024-2033

Overview and Scope
A preclinical asset refers to all clinical trial supplies or equipment for preclinical development that encompasses the activities that link drug discovery in the laboratory to the initiation of human clinical trials. This phase precedes human clinical trials and entails essential feasibility assessments, iterative evaluations, and safety data gathering, typically performed on laboratory animals.

Sizing and Forecast
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.

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Segmentation & Regional Insights
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

North America was the largest region in the preclinical assets market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the preclinical assets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
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.

Key Industry Players
Major companies operating in the preclinical assets market report are Laboratory Corporation of America, IQVIA Inc., ICON PLC, Eurofins Scientific SE, PPD Inc., SGS SA, WuXi AppTec Co. Ltd., Intertrek Group PLC, Charles River Laboratories International Inc., Medpace Inc., Pharmaron Beijing Co. Ltd., Evotec SE, GenScript Biotech Corporation, Inotiv Inc., SRI International Inc., Shanghai Medicilon Inc., Biocytogen Pharmaceuticals Beijing Co. Ltd., AmplifyBio LLC, BioReliance Corporation, Pharmalegacy Laboratories Co. Ltd., Precigen Inc., ReproCELL Incorporated, InSphero AG, Crown Bioscience Inc., Comparative Biosciences Inc., TCG Lifesciences Pvt. Ltd., InVivo Biosystems, Pharmatest Services Ltd, Domainex Limited, Viroclinics Xplore

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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32. Global Preclinical Assets Market Competitive Benchmarking
33. Global Preclinical Assets Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Preclinical Assets Market
35. Preclinical Assets Market Future Outlook and Potential Analysis
36. Appendix

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