CRO stands for contract research organization which provides research services to a biotechnology, pharmaceutical and medical devices companies on contract basis. CRO provides a various service such as biologic assay development, clinical research, biopharmaceutical development, clinical trials management, preclinical research, pharmacovigilance and commercialization. In Vivo CRO means preclinical testing for drug discovery and disease pathology. In Vivo Contract research organization market is expanding as drug manufacturers increases their pipeline products to develop and manufacture new molecule to sustain in market with good profit and with a patent products. Drug manufacturer require CRO to collect and investigate sufficient data to develop new drug and this is a key factors responsible for the growing demand for the CROs in pharmaceutical drug development segment. The use of Contract Research Organization services helps manufacturers to give complete attention on the own business production capacity and also to enhancing and develop their in-house processes.
The global in vivo contract research organization market has been segmented by type, indication and geography. The global in vivo Contract research organization market has been segmented on the basis of type animals used to conduct the preclinical tests such as rodent and non-rodent type. Rodent are generally from the mice family. Further rodent are classified into mice, rat and others. Non- rodent are classified into Hamsters, Guinea pigs and others. Rodent based testing for drug development and discovery holds the largest share of the market because mice and rats are tend to have a similar chromosomal make-up that is to humans and thus increase of uses of this species. Based on the indication the global contract research organization is segmented into oncology, autoimmune, CNS, pain management, obesity, diabetes and others. Major share is hold by an oncology testing in indication segment as number of cancer patient is increasing across the world. Various drugs development and clinical trials are carried out in an oncology as various types of cancer are increasing day by day.
Geographically, in- vivo CRO market has been segmented into five major region i.e. North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America was observed as the largest market, in terms of revenue for in- vivo contract research organization market. As the advancement of technology for in- vivo CROs present in this region also increase in healthcare spending by government and availability of grants and funding from government organizations. Asia Pacific are expected to record robust growth during the forecast period 2016-2024 due to growing health care industry, economic development and huge patient base affects the growth of in- vivo CRO market.
In addition there are number of factors affecting the growth of in- vivo CRO market such as shifting of preference of pharmaceutical industries toward the outsourcing clinical and preclinical trials to focus on their core business also the in- Vivo contract research organization saves the time of industries and make product available in market in minimum time. The increase in number of patients and the various diseases across the globe increases the number of pipeline products which ultimately increases the contract research organization market. The market is also witnessing certain restraints, such as quality issue of the CRO, huge cost for the clinical trials and presence of suitable animal for specific tests.
The major players operating in this market include American Preclinical Services, LLC., BTS Research, Charles River Laboratories International, Inc., Chiltern International Ltd., Covance Inc., ICON Plc., INC Research, inVentiv Health, PAREXEL International Corporation, Pharmaceutical Product Development, LLC., PRA Health Sciences, Quintiles Inc. and WuXi AppTec, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.