Global Preclinical Assets Market Set For Continued Growth, Projected To Reach $7.62 Billion By 2027 As Per The Business Research Company's Preclinical Assets Global Market Report 2023

LONDON, Oct. 24, 2023 (GLOBE NEWSWIRE) --

As per The Business Research Company's Preclinical Assets Global Market Report 2023, the global preclinical assets market is on a significant growth trajectory, poised to increase from $4.84 billion in 2022 to $5.32 billion in 2023, boasting a compound annual growth rate (CAGR) of 9.9%. The market is expected to maintain its momentum, projecting an estimated value of $7.62 billion by 2027, at a CAGR of 9.4%. The increase in drug discovery activities plays a pivotal role in propelling the preclinical assets market, where preclinical assets provide essential data and evidence for candidate selection.

Fueling Market Growth: Increasing Drug Discovery

The process of drug discovery is in the midst of a renaissance, with a surge in approved drugs. The US Food and Drug Administration (FDA) approved 74% of drugs in 2021 through expedited pathways, signaling an increase from the previous year. The Pharma R&D Annual Review 2022 reported that the number of drugs in the R&D pipeline grew from 17,737 in 2020 to 20,109 in 2022. This expanding drug discovery landscape is a catalyst for the preclinical assets market.

Learn More In-Depth On The Preclinical Assets Market

https://www.thebusinessresearchcompany.com/report/preclinical-assets-global-market-report

Leading Players in the Preclinical Assets Market

Major players driving the preclinical assets market include Laboratory Corporation of America, IQVIA Inc., ICON PLC, Eurofins Scientific SE, and others. These industry leaders ...

Full story available on Benzinga.com


Disclaimer: The views, recommendations, and opinions expressed in this content belong solely to the third-party experts. This site was not involved in the writing and production of this article.


Disclaimer Press Release Banner
Related Press Releases
Happy Chinese New Year Tour Helped Ringing in the Lunar New Year with Seven Events in the United States to Showcase Chinese Craftsmanship and Art Forms

Happy Chinese New Year Tour Helped Ringing in the Lunar New...

Faceswap AI Online Tool: Anakin AI Unleash the Digital Creativity for Everyone

Faceswap AI Online Tool: Anakin AI Unleash the Digital Creat...

Lana Evanova's Impressionistic Acrylic Paintings Enchant the Art Community at Arte Fiera 2024

Lana Evanova's Impressionistic Acrylic Paintings Enchant the...

ToyHub247.com: A New Destination for Online Toy Shopping

ToyHub247.com: A New Destination for Online Toy Shopping

Embark on a New Era of Travel and Web3-Related Ecosystem with XINTEL – The Gateway to Unprecedented SocialFi

Embark on a New Era of Travel and Web3-Related Ecosystem wit...

SASSA Status Check launched an updated tool for grant beneficiaries

SASSA Status Check launched an updated tool for grant benefi...

Real Street Capital Announces Regulation A+ Offering to Raise $25 Million for REAL STREET BUILD-TO-RENT FUND I, LLC.

Real Street Capital Announces Regulation A+ Offering to Rais...

VPTrade.com Expands Reach: Innovative Trading Platform Now in Latin America and Asia

VPTrade.com Expands Reach: Innovative Trading Platform Now i...

Announcing the Launch of Kosa Salon SF’s New Website: A New Luxury Hair Salon in San Francisco

Announcing the Launch of Kosa Salon SF’s New Website: A New...