This annual report includes charts on the UK life science sector, and how it compares to other countries. Areas covered include:

UK industry research and development regulatory environment clinical research

This statistic depicts the turnover of the life science industry sectors, in the United Kingdom (UK) in 2021/22. The life science industry sectors include a variety of industries such as medical technology, biopharmaceuticals, biomedical devices and biomedical technologies. In 2021/22, the biopharmaceutical sector experienced the largest turnover at 46.7 billion British pounds. This was followed by the service and supply of biopharmaceuticals, at 27.2 billion British pounds.

In the United Kingdom, around 24 percent of those employed in the life sciences sector in 2021 were working in the South East region. This statistic shows the distribution of employment in the life sciences sector in the United Kingdom in 2021, by region.

This statistic displays the number of companies in the life science industry sector in the United Kingdom (UK) in 2021/22, by sector. The life science industry sectors include a variety of industries such as medical technology, biopharmaceuticals, biomedical devises and biomedical technologies. In 2021/22, there were 3,464 medical technology companies in the United Kingdom, the largest number in this year. Biopharmaceutical service and supply sector accounted for the second largest number of life science companies in the United Kingdom at 1,922.

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Life Sciences Analytics Market Size 2024-2028

The life sciences analytics market size is forecast to increase by USD 7.83 billion at a CAGR of 12.02% between 2023 and 2028. The market is experiencing robust growth, fueled by the increasing integration of big data with healthcare analytics, the rising adoption of Electronic Health Records (EHRs), and the growing emphasis on personalized medicine. These trends are driving demand for innovative solutions, advancements in technology, and changing consumer preferences. The market's expansion is also influenced by a transition towards more efficient systems, better accessibility, and higher industry standards. Companies in this sector are responding by prioritizing sustainability and operational efficiency to maintain a competitive edge. As the market evolves, these dynamics continue to shape its direction, supporting long-term growth. The demand for advanced solutions is expanding the market's scope, ensuring its continued evolution. The integration of big data with healthcare analytics enables more accurate diagnoses, improved patient outcomes, and enhanced population health management. The increasing adoption of EHRs streamlines the healthcare delivery process, enhancing patient care and reducing administrative costs.

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Life Sciences Analytics Market Segmentation

The life sciences analytics market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

Deployment

  Cloud
  On-premises


End-user

  Pharmaceutical companies
  Biotechnology companies
  Others


Geography

  North America

    US


  Europe

    Germany
    UK
    France


  Asia

    Japan


  Rest of World (ROW)

Which is the largest segment driving market growth?

The cloud segment is estimated to witness significant growth during the forecast period.

Cloud-based life sciences analytics refers to the use of cloud technology to process and analyze data In the healthcare and life sciences industry. This approach eliminates the need for additional software installation, as data is maintained at the company's data center. End-users can access the data on a subscription basis, paying a monthly fee that covers maintenance and system upgrades. The biotech and pharmaceutical sectors, which require significant research and development, are major adopters of cloud solutions. Big data plays a crucial role in this domain, particularly In the analysis of chronic disorders, medical imaging, risk management, supply chain management, and preclinical trials.

Additionally, cloud-based analytics facilitates descriptive, predictive, diagnostic, discovery, and prescriptive analytics, as well as pharmacovigilance and clinical trial designing. The services segment includes outsourcing services, digital literacy, and artificial intelligence algorithms. The life sciences industry encompasses biotechnology companies, medical device companies, research centers, third-party administrators, and healthcare providers. Cloud-based analytics enhances clinical outcomes, financial outcomes, and operational outcomes, while also improving patient care experience, personalized medication, and human genome combinations. Electronic health records, artificial intelligence, and healthcare systems are essential components of this infrastructure. Non-communicable diseases and the global geriatric population further underscore the importance of cloud-based analytics In the healthcare sector.

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The Cloud segment was valued at USD 4.44 billion in 2018 and showed a gradual increase during the forecast period.

Which region is leading the market?

North America is estimated to contribute 36% to the growth of the global market during the forecast period.

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Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.The market in North America is driven by the demand for enhanced security, efficient data access, and effective patient information management. The US and Canada are major contributors to this market due to their early adoption of advanced technologies, such as machine learning, predictive analytics, and quantum computing. The high penetration rate of technology and the maturity of these economies have led to extensive digitalization In the life sciences sector, generating a substantial volume of data. Key companies in this market include SAS Institute, Oracle, and Veeva Systems. The use of big data and advanced analytics techniques, such as descriptive, predictive,

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Life Science Software Market Size 2024-2028

The life science software market size is forecast to increase by USD 4.56 billion at a CAGR of 8.58% between 2023 and 2028.

The market is experiencing significant growth, driven by several key trends and factors. One major trend is the increasing focus on storing and managing large volumes of patient data, fueled by the need for personalized and precision medicine. Another trend is the emergence of advanced technologies, such as artificial intelligence and machine learning, which are transforming the way data is analyzed and utilized In the life sciences industry. Additionally, data security and privacy concerns have become a top priority, with stringent regulations and compliance requirements driving the adoption of secure software solutions. These factors, among others, are expected to drive the growth of the market In the coming years.

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The market encompasses a range of applications designed to support various aspects of life sciences, including patient data management, pharma-related data analysis, workflows in life sciences laboratories, inventory management, and supply chain optimization. Enterprises In the life sciences sector, including biology, anatomy, health sciences, medical sciences, pharmaceutics, biopharmaceuticals, medical technology, generics, and clinical care industries, rely on these software solutions to streamline operations and enhance productivity. Life science software enables the handling and analysis of large volumes of data, from drug identification to sales efficiency. Advanced AI models, such as Generative AI and Variational Autoencoders (VAEs), are increasingly being integrated into these systems to provide hyper-customized content for marketing teams and improve workflows.
The integration of AI in life science software is expected to revolutionize the industry by providing accurate and efficient solutions for data analysis and inventory management. Overall, the market for life science software is expected to grow significantly In the coming years, driven by the increasing demand for advanced tools to support research and development In the life sciences sector.

How is this Life Science Software Industry segmented and which is the largest segment?

The life science software industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Deployment

  Cloud-based
  On-premises


End-user

  Pharmaceutical
  Biotechnology
  Others


Geography

  North America

    US


  Europe

    Germany
    UK
    France


  APAC

    Japan


  South America



  Middle East and Africa

By Deployment Insights

The cloud-based segment is estimated to witness significant growth during the forecast period.

Life science software plays a pivotal role in managing patient data and pharma-related data in life sciences laboratories and enterprises. Workflows In these organizations heavily rely on life science tools for inventory management, supply chain, and data analytics. The integration of generative AI, such as AI models and variational autoencoders (VAEs), enables the discovery of drug-like molecules and identification of target proteins. Synthetic gene orders and synthetic biology also benefit from data-driven methodologies, which amplify missing data through advanced analytics. Cloud and edge computing facilitate the secure storage and processing of genome sequence datasets and sensitive information. Marketing teams leverage marketing automation solutions, including automated email tracking and dashboarding, to create hyper-customized content for sales efficiency.

Data breaches and insider risks necessitate robust security measures, with cloud deployment providing scalability and flexibility. Medical research centers can make informed business decisions through the assimilation of data from various sources, enabling digital marketing strategies and automated marketing campaigns.

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The Cloud-based segment was valued at USD 4.60 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 46% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in North America is driven by the increasing demand for enhanced security, easy access to data, and efficient pati

This dataset is used by Departmental officials to analyse and produce annual reports and statistics within the UK Life Sciences sector. This data includes the number of companies, turnover and employment in the principal Life Science industry sectors - Pharmaceuticals, Medical Technology, Medical Biotechnology and Industrial Biotechnology.

This statistic displays the compound annual growth rate (CAGR) of employees in the life science sectors in the United Kingdom (UK) from 2011 to 2016, by sector. The life science industry sectors include a variety of industries such as medical technology, biopharmaceuticals, biomedical devises and biomedical technologies. During the five year period, the medical technology sector experienced the highest growth rate at 10.6 percent, this was followed by the medical technology service and supply sector at 5.4 percent. The biopharmaceuticals sector experienced a decline during this period, showing a growth rate of -2.2 percent.

AstraZeneca has abandoned plans for a £450m vaccine facility in the UK, highlighting economic and funding challenges. Learn about the implications for UK's life sciences sector.

This statistic shows the leading pharmaceutical and biotechnology companies originated from the United Kingdom (UK), as of year-end 2024, based on market capitalization. GSK (GlaxoSmithKline) ranked second highest on the list, with a market capitalization of some 56 billion British pounds. First was British-Swedish company AstraZeneca, with a market capitalization of around 165 billion British pounds. GlaxoSmithKline GSK (formerly GlaxoSmithKline) is a British pharmaceutical company with its headquarters based in London, United Kingdom. The company manufactures products for major disease areas including respiratory disorders such as asthma, oncology, immuno-inflammatory disorders, cardiovascular diseases, as well as manufacturing vaccinations. One of the most successful drugs manufactured and patented by GSK was Seretide/Advair which is used in the treatment of asthma and chronic obstructive pulmonary disease (COPD). However, until 2023, sales of the drug Seretide/Advair dropped to 287 million British pounds in Europe.

This statistic displays the compound annual growth rate (CAGR) of turnover in the life science sectors in the United Kingdom (UK) from 2011 to 2016, by sector. The life science sectors include a variety of industries such as medical technology, biopharmaceuticals, biomedical devises and biomedical technologies. During the five year period the medical technology service and supply sector displayed the highest growth rate at 10.9 percent, this was followed by the biopharmaceutical service and supply sector at 4.7 percent. The sector that experienced the lowest growth rate was the biopharmaceuticals sector at -4 percent.

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Preclinical Software For Physiology DA and AS Market Size 2025-2029

The preclinical software for physiology DA and AS market size is forecast to increase by USD 4.38 billion at a CAGR of 6% between 2024 and 2029.

Preclinical software for physiology in the global market is witnessing significant growth due to several key trends. The emerging role of bioinformatics tools and software in preclinical research is a major growth factor. Bioinformatics tools are increasingly being used to analyze large datasets generated during preclinical studies, enabling researchers to gain deeper insights into the biological mechanisms underlying various diseases. Another trend driving market growth is the rising digitalization in preclinical research. The adoption of digital technologies, such as electronic data capture systems and cloud-based platforms is streamlining research processes and improving data accuracy and accessibility. The software facilitates data visualization, scientific collaboration, and data analysis, enabling researchers to make informed decisions in areas such as neurology, gene therapy, pharmacokinetic studies, and biosimilar development. Furthermore, the stringent ethical framework using animals in preclinical research is pushing the need for advanced software solutions to ensure compliance with regulations and improve animal welfare. These trends are expected to continue shaping the preclinical software for physiology market In the coming years.

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In the dynamic and innovative realm of biomedical research, preclinical software for physiology DA and AS plays a pivotal role in drug discovery and scientific advancement. This market caters to various sectors, including pharmaceutical research, academic labs, government labs, and biotechnology, to streamline laboratory automation, ensure regulatory compliance, and enhance data security. It also supports data integrity, pharmacovigilance, research infrastructure, and clinical trial design. Furthermore, it caters to specialized fields like cardiology research, drug repurposing, biomarker development, precision medicine, and pharmacodynamic studies.
Moreover, with a strong emphasis on data security and regulatory compliance, this software is indispensable for pharmaceutical R&D outsourcing and pharmaceutical consulting. In summary, preclinical software for physiology DA and AS is a vital tool In the life sciences analytics sector, driving scientific progress and ensuring the integrity and security of research data.

How is this Preclinical Software For Physiology DA And AS Industry segmented and which is the largest segment?

The preclinical software for physiology da and as industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Industrial labs and CROs
  Academic government and research labs


Deployment

  On-premises
  Cloud


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK
    France
    Italy


  Asia

    China
    India
    Japan


  Rest of World (ROW)

By End-user Insights

The industrial labs and CROs segment is estimated to witness significant growth during the forecast period.

Preclinical software plays a crucial role In the research and development of new drugs and therapies in pharmaceutical and biotechnology industries. Many companies outsource their preclinical research to Contract Research Organizations (CROs), which offer advanced technologies and facilities, including preclinical software. CROs execute various research activities, from fundamental research to late-stage development, encompassing tasks like genetic engineering, animal testing, assay development, target validation, and clinical trials. Pharmaceutical and biotech firms specializing in chronic conditions and disorders may prefer small-scale CROs or conduct preclinical research in-house. Preclinical software solutions facilitate physiology data assessment, compound management, cardiology, chemistry, toxicology testing, and adhere to drug approval standards.

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The industrial labs and CROs segment was valued at USD 6.71 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 44% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market share of various regio

In-depth interviews of dyads in cross border acquisitions of UK biotechs. Interviews took place in 2011 with key decision makers in the target firms and acquiring firms. Data was gathered from the target firms on their proprietary technology, their capabilities and the motivation for the sale of the company. Data was gathered from the acquiring firms on their proprietary technology and similarity or dissimilarity with the target, their capabilities, the motivation for acquiring the target firm and their strategic intentions with the technology and resources from the target firm.

The UK through its research councils and charity organisations invests heavily in sustaining a strong science base, which is second only to the US in sectors such as medical and life sciences, mathematics and physics.

Nevertheless, the UK faces challenges in the ability to commercialise science. Britain has low R and D outside a few leading firms and a large proportion of R and D funded by foreign firms. Part of the problem is the 'funding gap' that British firms face at various stages of development, which is a serious impediment to realising the economic potential of publicly-funded science. This funding gap differs among high-tech industries. In biotechnology, the gap is in late-stage funding, making UK biotech firms attractive acquisition targets for foreign firms. While there is much speculation about the funding gap, little is known about the effects of this funding gap on innovation.

This research aims to understand what happens to the technological resources and assets of British science-based firms when acquired by foreign firms. Drawing on multiple case studies in Cambridge, Manchester and Oxford, the study derives different patterns of knowledge base combinations through acquisition that have different outcomes regarding innovation and important effects for the local science and technology system.

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What is the Artificial Intelligence In Biotechnology Market Size?

The artificial intelligence in biotechnology market size is forecast to increase by USD 4.46 billion, at a CAGR of 19% between 2024 and 2029. Artificial Intelligence (AI) is revolutionizing the biotechnology industry by enhancing research and development processes, enabling accurate diagnoses, and improving productivity. Key growth factors fueling the market include substantial investments in biotechnology advancements and strategic collaborations between industry players and tech companies. However, the high initial cost of implementing AI solutions remains a challenge for smaller organizations. The market is expected to witness significant growth due to the increasing adoption of AI in areas such as drug discovery, genetic research, and agricultural technology. Furthermore, advancements in machine learning algorithms and natural language processing are enabling more precise and efficient data analysis, leading to new discoveries and innovations. Overall, the integration of AI in biotechnology is transforming the industry and offering numerous opportunities for growth.

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Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019 - 2023 for the following segments.

Application

  Drug discovery and development
  Clinical trials and optimization
  Medical imaging
  Diagnostics
  Others


End-user

  Pharmaceutical companies
  Biotechnology companies
  Contract research organization (CRO)
  Healthcare providers
  Others


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China
    India
    Japan
    South Korea


  South America

    Brazil


  Middle East and Africa

Which is the largest segment driving market growth?

The drug discovery and development segment is estimated to witness significant growth during the forecast period. The market is experiencing significant growth, particularly in drug discovery and development. AI technologies are transforming the drug discovery process by increasing accuracy and efficiency in identifying potential drug candidates.

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The drug discovery and development segment was valued at USD 522.60 million in 2019. AI applications in biotechnology extend beyond drug discovery, including compound screening, personalized medicine, and environmental factors analysis. This growth is driven by the increasing demand for personalized treatments, the need for faster drug development, and the potential for AI to revolutionize various applications in biotech and pharmaceuticals.

Which region is leading the market?

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North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The North American region leads the global artificial intelligence (AI) market in biotechnology due to substantial investments, strategic collaborations, and technological advancements. With a strong infrastructure and a strong focus on innovation, the region is at the forefront of adopting and developing AI-driven biotechnological solutions. For example, in March 2023, Predictive Oncology partnered with Integra Therapeutics to enhance gene editing capabilities for cancer therapies. This collaboration leverages Predictive Oncology's expertise in protein expression to advance gene editing techniques, aiming to develop more effective cancer treatments. The partnership in Minnesota highlights the region's commitment to pioneering cancer research and therapeutic development through AI technology. In the life sciences sector, AI is utilized to analyze large datasets of genetic information, improve treatment outcomes, and increase productivity. Key players in the market include leading research institutions and biotechnology companies.

How do company ranking index and market positioning come to your aid?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Abbott Laboratories - The company offers artificial intelligence in biotechnology solutions that include AI-driven medical imaging and predictive analytics for identifying individuals at risk of heart attacks.

Technavio provides the ranking index for the top 20 companies along with insights on the market

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Contract Research Organization Market Size 2025-2029

The contract research organization (CRO) market size is forecast to increase by USD 85.3 billion at a CAGR of 14.6% between 2024 and 2029.

The market is experiencing significant growth due to the expansion of the biopharmaceutical industry and the increasing number of clinical trials. The biopharmaceutical sector's growth is driven by the rising prevalence of chronic diseases, the ongoing research and development of new treatments, and the integration of telemedicine and gene therapy advancements. Additionally, CROs provide cost savings and efficiency to pharmaceutical and biotech companies by managing clinical trials and regulatory compliance. BioAgile Therapeutics, a leading company offers contract research organization (CRO) services such as comprehensive clinical research solutions, including medical writing, clinical data management, site management, and regulatory services tailored for pharmaceuticals and medical devices.

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The market encompasses a diverse range of services essential to pharmaceutical and biotechnology companies in their quest for new drug discoveries and regulatory approvals. Key areas of focus include oncology research, pharmaceutical development, clinical trial management, regulatory affairs, pharmacovigilance, drug discovery, clinical trial design, and drug safety. CROs also provide expertise in personalized medicine, clinical data management, data analysis, biostatistics, clinical operations, medical research, and healthcare consulting. Additionally, they offer services related to healthcare technology, immunotherapy, cell therapy, precision medicine, drug delivery, clinical trial recruitment, biomarker discovery, medical device development, and healthcare analytics. CROs play a pivotal role in various phases of pharmaceutical development, from early-stage research to post-market surveillance, enabling healthcare innovation and investment in the life sciences sector.

How is this Contract Research Organization (CRO) Industry segmented?

The contract research organization (CRO) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Clinical research
  Early phase development
  Laboratory
  Regulatory consulting


End-user

  Pharmaceutical and biopharmaceutical companies
  Medical device companies
  Academic institutes


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  Asia
  Rest of World (ROW)

By Application Insights

The clinical research segment is estimated to witness significant growth during the forecast period. Contract Research Organizations (CROs) provide essential clinical research services, overseeing the strategic planning, execution, and oversight of clinical trials. Their expertise includes designing trial protocols, selecting investigative sites, and managing patient recruitment. CROs ensure regulatory compliance, implement rigorous monitoring and maintain data quality throughout the trial process. This accelerates drug development, enhancing efficiency and compliance. Research centers collaborate with CROs for tissue-based clinical research, funded by key players or governments, expanding their research and development capabilities. CROs offer services in various sectors, including pharmaceuticals, biotechnology, oncology drugs, drug development, clinical operations, oncology clinical trials, immunological disorders, regulatory affairs, biopharmaceuticals, analytical testing, respiratory disorders, healthcare, product approval, raw material testing, diabetes, target identification, data analytics, and medical devices.

Their role is crucial in the development of new treatments for cardiovascular diseases, genomic testing, cell gene therapy, and genomic testing devices. CROs also provide quality assurance, regulatory consulting, investments, mergers, productivity research services, patient population management, and clinical trial supplies.

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The Clinical research segment was valued at USD 31.00 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in North America holds a significant share due to the presence of numerous pha

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Preclinical CRO Market Size 2025-2029

The preclinical CRO market size is forecast to increase by USD 2.73 billion at a CAGR of 8.1% between 2024 and 2029.

The market is experiencing significant growth due to the increasing prevalence of chronic diseases and the rising number of clinical trials. The trend towards outsourcing research activities to CROs is gaining momentum, as it allows players in industries such as pharmaceutical and biotech to reduce costs and improve efficiency.
However, intellectual property (IP) issues pose a challenge to the growth of the CRO industry. As the number of collaborations and partnerships increases, ensuring proper IP protection becomes crucial. As per the Centers for Disease Control and Prevention (CDC) 2022 statistics, around 60% of adult Americans have one chronic disease or more due to a sedentary lifestyle, unhealthy diet habits, and consumption of tobacco, which are likely to increase.

What will be the Size of the Preclinical CRO Market During the Forecast Period?

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The preclinical Contract Research Organizations (CRO) market encompasses a significant segment of the global life sciences industry, specializing in large molecule preclinical studies for therapeutics and medical devices. These organizations play a pivotal role In the drug approval process, conducting preclinical trials to assess safety and efficacy. CROs utilize various models, including patient-derived organoids and immunodeficient mice, to simulate human physiology and disease states. Funding for preclinical research comes from various sources, including organizations, governments, and private investors.



Innovation In the market is driven by breakthroughs in biotechnology, such as the use of derived organoids and cryopreserved cells for diagnosis and prognosis. This has led to advancements in areas like neurology, oncology, infectious diseases, and metabolic disorders. The market is also witnessing a shift towards personalized healthcare, with a growing focus on drug metabolism and individual patient needs. The market caters to various therapeutic areas, including chronic diseases and malignancies, and is a critical link In the development of new therapeutics and medical devices.

How is this Preclinical CRO Industry segmented and which is the largest segment?

The preclinical CRO industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  P and B companies
  Medical device companies
  Academic institutes


Service

  Toxicology testing
  Bioanalysis and DMPK studies
  Compound management
  Others


Geography

  North America

    Canada
    Mexico
    US


  Europe

    Germany
    UK
    France
    Italy


  Asia

    China
    India
    Japan


  Rest of World (ROW)

By End-user Insights

The P and B companies segment is estimated to witness significant growth during the forecast period.

Contract Research Organizations (CROs) have become indispensable partners for pharmaceutical and biopharmaceutical companies, enabling them to extend their capabilities without incurring additional overhead. Over the past two decades, the collaboration between these organizations has grown significantly due to several factors. The increasing demand for generic drugs and biologics, the capital-intensive nature of the industry, and the intricate manufacturing requirements have led many companies to outsource preclinical studies, including drug metabolism, toxicology testing, bioanalysis, and pharmacokinetic services. Preclinical trials involving large molecules, immunodeficient mice, and patient-derived organoids for personalized healthcare are crucial In the development of breakthrough drugs for chronic diseases such as neurology, oncology, cardiology, and infectious diseases.

CROs provide cost containment and regulatory compliance, adhering to guidelines for drug approval and regulatory policies. Services offered include noncore preclinical testing, bioequivalence studies, and in-house inventory management. Leading organizations have leveraged CROs to advance their drug candidates through clinical phases and bring innovative therapies to market.

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The P and B companies segment was valued at USD 2.74 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 44% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market share of various regions, Request Free Sample

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