The global drug discovery outsourcing market size is expected to reach USD 4.44 billion by 2025
at an 8.14% CAGR, according to a new report by Grand View Research, Inc. Urging
need to identify potential drug candidates for various chronic diseases is
anticipated to fuel growth.
Technological advances in in silico drug
designing and accelerating integration of Artificial Intelligence (AI) in drug
discovery are driving industry progress. Multiple applications of AI algorithms
in drug design and discovery provide opportunities for players to offer
specialized drug discovery services. It is useful for processes such as target
and compound selection, predictive analytics, screening, and drug repurposing.
Projected rise in
adoption of outsourcing over the forecast period is expected to boost market
revenue generation. Half of the drug discovery processes are anticipated to be
outsourced, thereby creating massive opportunities for CROs, CMOs, and CDMOs to
expand their market presence.
Number of collaborations
among these organizations, key pharmaceutical players, and several universities
has increased over the past few years. This rise in alliance further supports
the projected increase in growth potential.
High cost and high risk
of drug failure are major challenges faced in drug discovery. However, advances
in technology that increase efficiency of drug discovery, coupled with
increased adoption of highly advanced technology to provide specialized
services, allow outsourcing companies to overcome these challenges.
Access Research Report of Drug Discovery Outsourcing Market@:
Further key findings from the report suggest:
· Escalating incidence of respiratory
disorders such as asthma and chronic obstructive pulmonary disease (COPD) is
projected to indirectly propel market growth. Advancements in technologies,
such as emergence of Artificial Intelligence (AI) in the pharmaceutical
industry, is also anticipated to accelerate industry progress
· Moreover, increasing incidences of
antibiotic resistance as well as drug resistance have improved focus on
discovery of novel compounds to treat conditions such as Multidrug-Resistant TB
(MDR-TB)
· Based on workflow, lead identification and
candidate optimization is slated for impressive growth owing to high
bottlenecks in this workflow segment
· By therapeutic area, oncology drug
discovery outsourcing is fueled by increasing demand for oncology solutions,
coupled with expanding government support in cancer research
· North America dominates the global market
owing to high focus on R&D in identification of novel drug candidates,
along with presence of key players
· Asia Pacific is projected to witness the
fastest growth over the forecast period as a result of increasing number of
CRO, CMOs, and CDMOs in emerging countries. Rising trend of outsourcing
manufacturing and R&D activities to countries such as China and India will
aid growth in the region
· Some of the major players are Charles
River; EVOTEC, Laboratory Corporation of America Holdings; GenScript, Merck
& Co., Inc.; Jubilant Biosys; Thermo Fisher Scientific, Inc.; Oncodesign;
Albany Molecular Research, Inc.; WuXi AppTec; Dalton Pharma Services;
Pharmaceutical Product Development, LLC; DiscoverX Corporation; and QIAGEN
· Collaboration of players with key
pharmaceutical companies and academics and research centers is observed to
increase in recent years.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/pharmaceuticals
Grand View Research has
segmented the global drug discovery outsourcing market on the basis of
workflow, therapeutic area, drug type, and region:
Drug Discovery Outsourcing Workflow
Outlook (Revenue, USD Million, 2013 - 2025)
·
Target Identification & Screening
·
Target Validation & Functional
Informatics
·
Lead Identification & Candidate
Optimization
·
Preclinical Development
·
Other Associated Workflow
Drug Discovery Outsourcing Therapeutic Area Outlook
(Revenue, USD Million, 2013 - 2025)
·
Respiratory System
·
Pain and Anesthesia
·
Oncology
·
Ophthalmology
·
Hematology
·
Cardiovascular
·
Endocrine
·
Gastrointestinal
·
Immunomodulation
·
Anti-Infective
·
Central Nervous System
·
Dermatology
·
Genitourinary System
Drug Discovery Outsourcing Drug Type Outlook (Revenue,
USD Million, 2013 - 2025)
·
Small Molecules
·
Large Molecules (Biopharmaceuticals)
Drug Discovery Outsourcing Regional Outlook (Revenue, USD
Million, 2013 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
U.K.
·
Asia Pacific
o
Japan
o
China
·
Latin America
o
Brazil
·
Middle East and Africa (MEA)
o
South Africa
Access Press Release of
Drug Discovery Outsourcing Market@: www.grandviewresearch.com/press-release/global-drug-discovery-outsourcing-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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