The global Pre Clinical CROs market, based on service, has been segmented into bio-analysis and DMPK studies, toxicology and other services. The toxicology segment held a largest share of the market in 2018. Moreover, the same segment is anticipated to register the highest CAGR in the market during the forecast period as toxicology testing plays a vital role in drug discovery process to evaluate the safety of the drug candidate. Moreover, the test is also one of the most reliable and commonly performed that is taken into consideration for translation of animal responses into an understanding risk among human subjects.
The major players operating in the Pre Clinical CROs market include, Covance, Inc., Charles River, Eurofins Scientific, PRA Health Sciences, WuXi AppTec, Medpace, Inc., Pharmaceutical Product Development, LLC, Parexel International Corporation, ICON Plc, and MD Biosciences among the others. The market has witnessed various organic as well as inorganic developments during recent years in the Pre Clinical CROs market. For instance, in September 2019, Pharmaceutical Product Development, LLC (PPD) expanded its bio-analytical laboratory in Richmond, Virginia, enhancing immunochemistry, biomarker and chromatography services for biopharmaceutical clients.
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Pre Clinical CROs market Segmentation
In terms of service, the Pre-Clinical CROs in healthcare market is segmented into bioanalysis & dmpk studies, toxicology, others. The toxicology segment held a largest share of the market in 2018.
In terms of end user, the Pre-Clinical CROs in healthcare market is segmented into biopharmaceutical companies, government & academic institutes, medical device companies. In 2018, the biopharmaceutical companies segment held the largest share of the market, by end user.
Regional Analysis of Global Pre Clinical CROs Market
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Pre Clinical CROs market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
Impact of Covid-19 On Pre Clinical CROs Market
COVID-19 began in Wuhan (China) in December 2019, and till now, it has spread across the globe at a swift pace. The US, India, Italy, Brazil, Russia, the UK, France, and Spain are some of the worst affected countries that have confirmed cases and reported deaths. The pandemic has affected economies and industries in various countries due to lockdowns and business shutdowns. The shutdown of different plants and factories affected the worldwide supply chains and impacted the Pre Clinical CROs market’s manufacturing and sales of products. Few companies have already announced delays in their product deliveries and a slump in future sales. Hence, owing to the above-mentioned factors, the pandemic has decreased the growth of the market in the forecast period.
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