Introduction:
In Vivo CRO (Contract Research Organizations), provides outsourcing services, conduct biopharmaceutical research on contractual basis and thus, supports biotechnology & pharmaceutical companies in formulating vaccines, drugs and medical devices.
Growing prevalence of chronic diseases such as cardiovascular diseases among ageing population have contributed in market growth. Further, rising incidence of cancer diseases and growing need for novel oncology-based therapies for diagnosis has fueled the market growth. Furthermore, outsourcing provides advantages such as a reduction in investment risks, expert knowledge, advance tools and technology, increasing productivity and efficiency, reducing labor work, and ideal for startups and small businesses which has powered the In Vivo CRO market growth.
Key Highlights:
- In January 2023, Evotec SE announced its agreement with Janssen Biotech Inc., for development of targeted immune-based therapies for oncology segment. This agreement will allow Evotec’s transformational innovation in discovery and development of immune-based therapies.
Analyst View:
With the increasing popularity of biologics over small molecule medications, in-vivo CROs are becoming more common which is likely to propel market growth. Due to the high level of competition in the development of mABs, CROs are focusing more on bio-similar development which in turn, foster the demand for In Vivo CRO market growth.
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Market Challenges:
- Regulatory Compliance: Ensuring compliance with ever-evolving and stringent regulatory requirements is a significant challenge. In Vivo CROs must stay up-to-date with the latest regulatory guidelines and adapt their practices to meet them. Any regulatory non-compliance can lead to costly delays in drug development.
- Quality Assurance: Maintaining high-quality standards in research, data collection, and reporting is essential. Quality control and assurance mechanisms must be in place to ensure the reliability and accuracy of results, as inaccuracies can have serious consequences for drug development.
- Ethical Concerns: In Vivo CROs may face ethical challenges related to the use of animals in research. Ethical considerations, animal welfare, and adherence to ethical guidelines are important aspects of conducting preclinical studies.
- Cost Pressures: Cost pressures are a constant challenge in the CRO industry. Pharmaceutical and biotech companies often demand cost-effective services, which can put pressure on In Vivo CROs to deliver high-quality results within tight budgets.
- Competitive Landscape: The In Vivo CRO market is highly competitive, with numerous providers vying for contracts. Differentiating services and maintaining competitive pricing can be challenging.
- Data Security: Ensuring the security and confidentiality of sensitive preclinical data is critical. In Vivo CROs must have robust data protection measures in place to safeguard client information and research findings.
- Talent and Expertise: Maintaining a skilled workforce with expertise in various animal models and experimental techniques is vital. Attracting and retaining top talent can be competitive and require investment in training and development.
- Changing Research Models: Advances in science and technology are continually changing research models and methodologies. In Vivo CROs must adapt to new research approaches, including the use of organoids, 3D cultures, and other alternative models.
- Globalization and Diverse Markets: Expanding into global markets requires a deep understanding of local regulations, cultural differences, and market dynamics. Managing diverse projects across different regions can be complex.
- Technological Advancements: Keeping up with technological advancements, such as advanced imaging techniques and data analytics, can be challenging but is necessary for offering state-of-the-art services.
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Key players:
- Quintiles
- ICON Plc
- Parexel International
- American Preclinical Services
- Covance Inc.
- Theorem Clinical research
- WuXi AppTec, Inc
- inVentiv Health
- Evotec (US), Inc
- Charles River Laboratories
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