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(Medical-NewsWire.com, March 26, 2018 ) Global Preclinical CRO Agents Market was worth USD 3.25 billion in 2017 and estimated to be growing at a CAGR of 8.3%, to reach USD 4.84 billion by 2022. A preclinical contact research organization is the guiding force for pharmaceutical companies advising how to take a drug from the research laboratories to the market. It requires various professionals including medical personnel, administrators and marketing experts. Preclinical research is of prime importance and has various risks associated with it. This is the phase where there is a high chance that a product might fail and hence choosing a CRO becomes of prime importance.
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Increasing number of life science of companies and outsourcing of various functions is driving the market growth. The rising number of R&D projects in the clinical phase segment are further propelling the market growth. Due to the failure of toxicology tests, the market is growing significantly. Supportive government policies regarding drug approval is expected to fuel the market growth during the forecast period.
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The market for Preclinical CRO Agents is broadly categorized into service type and end user. By service type the market is segmented into bioanalysis and DMPK studies, toxicology testing and other preclinical services. Toxicology testing holds the largest market share in the preclinical CRO market. By end user the market is divided into biopharmaceutical companies, government and academic institutes and medical device companies. Biopharmaceutical companies are the biggest end user segment for preclinical CRO. On the basis of geography, the market is analysed under various regions namely North America, Europe, Asia-Pacific and Rest of the World. The Preclinical CRO Agents market was dominated by North America closely followed Europe. Asia Pacific is expected to grow at a high CAGR.
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Some of the major companies dominating the market, by their products and services include Charles River Laboratories International, Inc.; Laboratory Corporation of America; Envigo, Eurofins Scientific; PRA Health Science, Inc.; Wuxi AppTec; Medpace, Inc.; Pharmaceutical Product Development, LLC.; and Paraxel International Corporation.
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Source: EmailWire.Com 
Source: EmailWire.com
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