Global Drug Discovery Outsourcing Market Size, Share, Growth, Industry Trends and Forecast 2020-2030

Drug discovery outsourcing is a process of inventing a new medicine in the field of pharmaceuticals, biotechnology, and pharmacology. Drug discovery is a very time consuming, complex, and expensive process and sometimes may have a low success rate. Usually, small pharmaceutical companies develop new drug molecules and sell the patent rights to big companies who can afford to conduct clinical trials and observe whether the drugs are suitable or not. Companies outsource their drug discovery process in order to focus on their core competencies like manufacturing, marketing, and product labelling. The companies providing outsourcing services for drug discovery are established companies with developed infrastructure, developed technological front, and skilled expertise. The global drug discovery outsourcing market is accounted approximate USD 2.5 billion in 2020 and it is expected to reach approximate USD 5.5 billion by 2030 with a CAGR of 8.3% during forecast period.
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Market Dynamics and Factors:
Rapid progression in technology, reduced approval time, and increasing strategic collaborations in the field of drug development are some of the major factors driving the growth of the drug discovery outsourcing market. For instance, AstraZeneca established multiple outsourcing partnerships with Cancer Research U.K, Cambridge Institute, University of Texas MD Anderson Cancer Centre, Medical Research Council Laboratory of Molecular Biology, and Academic Drug Discovery Consortium in 2014. Cost reduction, access to specialised knowledge and technology, and greater innovation are the major reasons because of which top pharmaceutical companies are opting for outsourcing their drug discovery process. Advancements in emerging technologies such as artificial intelligence and its implementation in drug discovery has also contributed towards the market growth. However, certain restraining factors like high price of drug discovery outsourcing, and increasing risk of drug failure are hindering the growth of the drug discovery outsourcing market.
Market Segmentation:
Global Drug Discovery Outsourcing Market – By Workflow
Target Identification & Screening
Target Validation & Functional Informatics
Lead Identification & Candidate Optimization
Preclinical Development
Others
Global Drug Discovery Outsourcing Market – By Therapeutics Area
Respiratory System
Pain & Anesthesia
Oncology
Ophthalmology
Hematology
Cardiovascular
Endocrine
Gastrointestinal
Immunomodulation
Dermatology
Anti-Infective
Central Nervous System
Genitourinary System
Global Drug Discovery Outsourcing Market – By Drug Type
Small Molecules
Large Molecules
Global Drug Discovery Outsourcing Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
North America is expected to dominate the global drug discovery outsourcing market during the forecast period in terms of market share. The presence of a well-established research infrastructure; existence of a large pool of key players of the pharmaceutical industry; greater adoption of technological advancements; and huge investments in drug discovery research & development are some of the major factors attributing to the market dominance of the region. The Asia Pacific region is anticipated to be the fastest growing market during the forecast period. The growing number of clinical research organisations (CRO), contract manufacturing organisations (CMO), and contract development and manufacturing organisations (CDMO) in the region has resulted in huge trend of outsourcing manufacturing and R&D activities to China and India. This has fuelled the growth of the drug discovery outsourcing market in the APAC region. Government initiatives in the APAC nations to forge ties with U.S pharmaceutical companies is going to propel the market growth in the future. For instance, China launched the Market Authorisation Holder (MAH) pilot program, and as a result investments from venture capitalists increased in the nation’s biotech and pharmaceutical sector.
Competitive Scenario:
The key players operating in the global drug discovery outsourcing market are –
Charles River Laboratories, Albany Molecular Research, Pharmaceutical Product Development LLC., Jubilant Biosys, Thermo Fisher Scientific Inc., Dalton Pharma Services, Laboratory Corporation of America Holdings, WuXi AppTec, Domainnex, Viva Biotech Ltd.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Drug Discovery Outsourcing industry, although key threats, opportunities and disruptive technologies that could shape the Global Drug Discovery Outsourcing Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Drug Discovery Outsourcing Market most.
The data analysis present in the Global Drug Discovery Outsourcing Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Drug Discovery Outsourcing Market business.
The 2021 Annual Global Drug Discovery Outsourcing Market offers:
100+ charts exploring and analysing the Global Drug Discovery Outsourcing Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Drug Discovery Outsourcing Market type
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