SAN FRANCISCO, June 20, 2017 /PRNewswire/ --
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.
Browse full research report with TOC on "Oncology Based In-vivo CRO Market Analysis By Indication (Blood cancer, Solid tumor), By Model (Syngeneic model, Patient Derived Xenograft (PDX), Xenograft), By Region, And Segment Forecasts, 2014 - 2025" at: http://www.grandviewresearch.com/industry-analysis/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.
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Grand View Research has segmented the global oncology based in-vivo CRO market on the basis of indication, and region:
- Global Oncology Product Outlook (Revenue, USD Million, 2014 - 2025)
- Blood cancer
- Solid tumors
- Syngeneic model
- Patient Derived Xenograft (PDX)
- Oncology in-vivo CRO Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- North America
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About Grand View Research
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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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