The latest report by IMARC Group, titled “Oncology Based In-Vivo CRO Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global oncology based in-vivo CRO market size reached US$ 1.1 Billion in 2022. Oncology refers to the study of diagnosis, prevention, and treatment of cancer. It relies on a range of techniques, including biopsy, endoscopy, X-ray, computed tomography (CT) scanning, magnetic resonance imaging (MRI), positron emission tomography (PET) scanning, and ultrasound. It provides immunotherapy, radiotherapy, hormonal therapy, and oral therapies to patients for enduring and relieving the side effects of cancer. Oncology-based in-vivo CRO involves cancer management with the help of contract research organization (CRO) services. Since it offers preclinical drug development, testing, and infection diagnosis research in the field of oncology, oncology-based in-vivo CRO is gaining immense traction across the globe.
Global Oncology Based In-Vivo CRO Market Trends:
The rising incidences of cancer among the masses represent the primary factor driving the market growth. Moreover, the higher economic efficiency and expertise in cancer treatment offered by CROs compared to an in-house study has led to a substantial shift toward outsourcing research and development (R&D) activities by major pharmaceutical companies. Along with this, the growing focus on the oncogene study to regulate cell proliferation, growth, and differentiation has augmented the demand for oncology-based in-vivo CRO. Additionally, there has been a surge in the use of telehealth and virtual clinical trials in the healthcare sector to ensure the safety of cancer patients. In line with this, ongoing advancements in genetic engineering for manipulating deoxyribonucleic acid (DNA) and modifying the characteristics of organisms has propelled the market growth. Furthermore, the rising funding from government organizations for R&D activities and the surging need to reduce the overall trial expenditure is positively influencing the market growth. Besides this, the rapid growth of generics and biosimilars, coupled with the increasing competition among pharmaceutical manufacturers due to upcoming patent expirations, has accelerated product adoption rates. Other factors, including the development of several investigational compounds by CROs for treating cancer, widespread availability of medicines, the aging population, and improvements in the healthcare infrastructure, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 1.8 Billion by 2028, growing at a CAGR of 7.65% during 2023-2028.
- The market has been classified based on the indication into blood cancer, solid tumors, and others. Currently, solid tumors represent the largest market segment.
- Based on the model, the market has been segmented into syngeneic, xenograft, patient derived xenograft (PDX), and others. Amongst these, patient derived xenograft (PDX) exhibits a clear dominance in the market.
- On the basis of the application, the market has been bifurcated into hospitals and rehabilitation centers.
- Region-wise, North America (the United States and Canada) holds the leading position in the market. Other major regions include Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Champions Oncology Inc., Charles River Laboratories International Inc., Crown Bioscience Inc., Eurofins Scientific, Evotec SE, ICON Plc, Labcorp Drug Development (Laboratory Corporation of America Holdings), Living Tumor Laboratory, Taconic Biosciences Inc., The Jackson Laboratory, WuXi AppTec, and Xentech.
|Base Year of the Analysis
||Indication, Model, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Champions Oncology Inc., Charles River Laboratories International Inc., Crown Bioscience Inc., Eurofins Scientific, Evotec SE, ICON Plc, Labcorp Drug Development (Laboratory Corporation of America Holdings), Living Tumor Laboratory, Taconic Biosciences Inc., The Jackson Laboratory, WuXi AppTec and Xentech
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