The biopharmaceutical industry has increased its R&D spending, with more than US$102 billion being invested in 2018. However, only 5% of diseases are currently treated. Moreover, nearly 260 vaccines are in the pipeline, with the COVID-19 vaccine being one of them. This trend is likely to fuel the growth of the preclinical CRO market in the coming years, especially as major players continue to invest in R&D and clinical trials to increase their own revenue.
Preclinical CRO preclinical in R&D, and conduct studies for the IND filing process. Because many drugs fail during the preclinical stage, a good preclinical CRO must possess the necessary expertise and regulatory awareness to conduct effective studies. The organization should have competent personnel, regulatory knowledge and experience in animal testing. The customers should also be able to provide regulatory contacts and facilitate regulatory compliance. These factors are crucial to the success of a preclinical CRO.