Preclinical CRO Market Size Is Expected To Reach USD 8.4 Billion By 2028: Grand View Research Inc.

San Francisco, 5 Jan 2022: The Report Preclinical CRO Market Size, Share & Trends Analysis Report By Service (Toxicology Testing, Bioanalysis & DMPK Studies), By End Use (Biopharmaceutical Companies, Government & Academic Institutes), And Segment Forecasts, 2021 – 2028

The global preclinical CRO market size is expected to reach USD 8.4 billion by 2028, expanding at a CAGR of 8.1%, according to a new report by Grand View Research, Inc. The market is expected to show lucrative growth due to increasing R&D expenditure and rising outsourcing trends. The increasing volume of new drugs entering the preclinical phase is also anticipated to boost the market over the forecast period.

The market is undergoing a series of mergers and acquisitions resulting in improvement in full-service capabilities and international reach of larger companies. For instance, in 2019, WuXi AppTec acquired Pharmapace. On the other hand, mid-sized and smaller contract research organizations are focusing on niche sectors and are providing a personalized approach to their sponsors. Various companies are focusing on research and development of new drugs and therefore are outsourcing these activities to launch efficient CRO services in the market. This, in turn, provides a positive atmosphere for joint ventures among market participants owing to the preference of sponsors to maximize their benefits.

The COVID-19 pandemic is ever increasing since the disease was first identified in China in December 2019. Until January 20, 2021, more than 96.7 million cases of COVID-19 were reported globally, with more than 2,068,303 deaths, across the globe. This pandemic has fast-tracked the development of vaccines and drug testing. There are currently more than 50 COVID-19 vaccine candidates in preclinical studies as well as trials.

North America held the highest revenue share of the global market in 2020. Huge investments in healthcare R&D coupled with well-developed healthcare infrastructure in the U.S. contributed to the market growth in North America. Asia Pacific is projected to expand with the fastest CAGR of 12.0% over the forecast period.

Access Research Report of Preclinical CRO Market @ https://www.grandviewresearch.com/industry-analysis/preclinical-cro-market

Preclinical CRO Market Report Highlights

• The toxicology testing segment accounted for the largest share of more than 22% in 2020 due to its significance in Investigational New Drug (IND)-enabling studies
• The government and academic institutes segment is anticipated to witness the fastest CAGR of 8.5% over the forecast period
• This growth is credited to the rising government initiatives in the healthcare sector, especially in developing economies
• North America dominated the market in 2020. Huge healthcare R&D expenditure is the major factor driving the regional market
• Asia Pacific is projected to record the fastest CAGR of 12.0% over the forecast period

List of Key Players of Preclinical CRO Market

• Envigo Corp.
• MPI Research
• Eurofins Scientific
• PRA Health Sciences, Inc.
• Wuxi AppTec
• Medpace, Inc.
• Pharmaceutical Product Development (PPD), LLC
• PARAXEL International Corp.
• ICON Plc
• Laboratory Corporation of America, Inc.

Access Press Release of Preclinical CRO Market @ https://www.grandviewresearch.com/press-release/global-preclinical-cro-market

Actinic Keratosis Treatment Market Size Is Projected To Reach USD 8.12 Billion By 2028: Grand View Research Inc.

San Francisco, 5 Jan 2022: The Report Actinic Keratosis Treatment Market Size, Share & Trends Analysis Report By Therapy (Surgery, Photodynamic Therapy), By Drug Class, By End-Use (Hospitals, Homecare), By Region, And Segment Forecasts, 2021 – 2028

The global actinic keratosis treatment market size is expected to reach USD 8.12 billion by 2028 according to a new report by Grand View Research, Inc. The market is anticipated to grow at a CAGR of 4.3% over the forecast period owing to a rise in demand for AK treatment products, increasing awareness among people, and favorable government initiatives. However, the COVID-19 pandemic has affected the market adversely. A downfall has been observed in the diagnosis and treatment rate of actinic keratosis in 2020, globally.

Key pharmaceutical companies are collaborating to develop novel therapies to treat actinic keratosis. For instance, in December 2017, Almirall, S.A., and Athenex, Inc. collaborated to develop KX2-391(tirbanibulin), an investigational drug for AK treatment. According to the deal, Athenex, Inc. granted the development and commercialization rights to Almirall, S.A. in the U.S. and Europe. Furthermore, in December 2020, Almirall, S.A. received the U.S. FDA approval for Klisyri (tirbanibulin) and was commercialized in February 2021 in the U.S.

Actinic keratosis may malignantly transform into Invasive Squamous Cell Carcinoma (iSCC). Although there are several causative factors of iSCC, AK is one of the most common causes. AK could also lead to basal cell carcinoma and non-melanoma skin cancer. Thus, the early diagnosis and treatment of AK as a preventive strategy for the comorbidities is fueling product sales across various sales channels.

Photodynamic therapy is anticipated to grow at the fastest CAGR over the forecast period. The high efficacy of the therapy compared to other treatment options and adoption of aggressive market strategies by key players to increase the market share are driving the segment growth. For instance, BIOFRONTERA AG has collaborated with many regional players to commercialize Ameluz (photo-enhancer) in the market. In December 2020, the company entered into a marketing agreement with Galenica AB to commercialize its products in the Scandinavian region. Moreover, the company has also collaborated with Medac GmbH in Poland and Maruho Co., Ltd. in Japan for the commercialization of Ameluz in the regional market.

Increasing government involvement & initiatives to improve healthcare services across the globe are expected to boost the market growth. The regulatory bodies are closely monitoring the treatment options for AK and adopting strategies accordingly. For instance, in January 2020, the European Medicines Agency recommended to stop using Picato (ingenol mebutate) for treating AK. The Pharmacovigilance Risk Assessment Committee of EMA is reviewing the clinical data related to skin cancer in a patient using Picato.

Access Research Report of Actinic Keratosis Treatment Market @ https://www.grandviewresearch.com/industry-analysis/actinic-keratosis-ak-treatment-market

Actinic Keratosis Treatment Market Report Highlights

• Surgical therapy acquired the highest market share in 2020 due to the high penetration of cryotherapy and other surgical options
• Photo-enhancers and photodynamic therapy are anticipated to witness the fastest CAGR over the forecast period
• A paradigm shift in consumer preference towards homecare products is anticipated to drive the homecare end-use segment
• The risk of developing AK increases with age. Hence, the growing geriatric population is expected to accelerate the market growth
• Strategic partnerships among major players are expected to propel the number of new product launches, driving the market

Key Players of Actinic Keratosis Treatment Market

• Sun Pharmaceutical Industries Ltd.
• Novartis AG
• GALDERMA
• Hill Dermaceuticals, Inc.
• Viatris Inc.
• Mylan N.V.
• Bausch Health Companies Inc.
• LEO Pharma A/S
• Almirall, S.A.
• Biofrontera AG
• 3M

Access Press Release of Actinic Keratosis Treatment Market @ https://www.grandviewresearch.com/press-release/global-actinic-keratosis-treatment-market