Oncology Based In-vivo CRO Market Is Projected To Reach $1.5 Billion By 2025: Grand View Research, Inc.
The global oncology based in-vivo CRO
market is expected to reach USD 1.5 billion by 2025, according to
a new report by Grand View Research, Inc. 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.
Another factor propelling growth
is the increasing incidence of cancer, and high failure rate of existing
treatment options. According to statistics published by the World Health
Organization (WHO), approximately 8.2 million deaths are recorded each year
from cancer, which accounts for 13.0% deaths worldwide.
U.S. oncology based in-vivo CRO market, by indication,
2014 - 2025 (USD Million)
Browse full research report on Oncology Based In-vivo CRO Market:
Further key findings from
the report suggest:
- Based on indication, solid tumors are
expected to dominate the market as of 2016. Furthermore, it is anticipated
to grow at the fastest CAGR owing to the factors such as growing incidence
rate, augmenting research for tumors in organs such as breast, and liver,
and technological advancement offered by key industry players.
- Solid tumors are analyzed by means of
models such as xenograft, Patient Derived Xenografts (PDX), and syngeneic.
The PDX models are expected to witness lucrative growth over the forecast
period and capture over 40.0% of the market share by 2025.
- Geographic expansion into Asia Pacific
countries by well-established players is anticipated to promote the
fastest growth for the region. India is one the most lucrative country
owing to presence of service tax exemption and venture capital based
funding for CROs.
- Few of the industry players for the
oncology based in-vivo CRO market are The Jackson
Laboratory, Covance, Taconic Biosciences, Charles River Laboratory,
EVOTEC, Wuxi AppTec, and ICON Plc.
- A common trend observed is the rising
partnerships among CROs to offer bundle packages of services to sponsors.
For instance, In May 2017, CRL International, Inc. announced their
partnership with OcellO, established in Netherlands. According to this
partnership, CRL would be utilizing the latter’s PDX model capabilities in
order to expand their oncology based drug discovery service portfolio.
Access Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-oncology-based-in-vivo-cro-market
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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