Oncology Based In-vivo CRO Industry Overview
The global oncology based in-vivo CRO market is expected to reach USD 1.9 billion by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 8.2% from 2021 to 2028. The use of Contract Research Organization (CRO) oncology services helps the manufacturers/sponsors to provide complete attention on the production capacity and at enhancing their in-house processes.
Furthermore, the pressure from the increasing competition due to patent expirations, rapid growth of generics, and introduction of biosimilar equivalents are propelling the pharmaceutical companies to take the aid of such organizations. Hence, it can be predicted that the oncology based in-vivo CRO market may witness lucrative growth over the forecast period.
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:
Based on the Indication Insights, the market is segmented into Blood cancer, Solid tumors, and Others.
- The solid tumors dominated the market for oncology based in-vivo CRO and accounted for the largest revenue share of 46.5% in 2020.
- The factors responsible for higher research in the field of solid tumors are the presence of over 800 new molecules that are under pipeline by large pharmaceutical companies, availability of grants from institutes such as NIH and NCI, and the existing gap between demand and supply of therapeutic treatments for solid cancer.
Oncology Based In-vivo CRO Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The augmenting rate at which outsourcing of activities is growing within the healthcare industry results in the entry of various new players coupled with collaborative efforts by existing players is expected to be witnessed over the forecast period. For instance, in 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.
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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