Preclinical Assets Market Estimated to Witness Growth Owing to Rising Investment in Drug Discovery & Development Activities
The preclinical assets market involves compound optimization, lead identification, target validation, and assays related to drug discovery and development prior to the initiation of human clinical trials. Preclinical assets including chemical compounds, biologics and drug targets play a pivotal role in early drug development and screening. Factors such as rising R&D expenditures by pharmaceutical & biotechnology companies and increasing government funding for preclinical research have fueled market growth. Preclinical Assets Market is estimated to be valued at US$ 1.2 Billion in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024-2031. Key Takeaways Key players operating in the preclinical assets market are Merck & Co, Pfizer Inc, Eli Lilly and Company, Thermo Fisher Scientific, GE Healthcare. The rising prevalence of chronic diseases and increasing Preclinical Assets Market Demand for targeted therapies are projected to create new opportuniti...