In a groundbreaking projection, the Global Drug Discovery Outsourcing Industry is poised to undergo substantial growth, with a steadfast Compound Annual Growth Rate (CAGR) of 7.2% from 2023 to 2033. This robust trajectory is set to elevate the market’s value from US$ 3.75 billion in 2023 to an impressive US$ 7.52 billion by 2033.
This substantial surge is a testament to the burgeoning demand for drug discovery outsourcing services, showcasing the industry’s resilience and adaptability. As pharmaceutical and biotech companies increasingly recognize the strategic advantages of outsourcing drug discovery processes, this market is positioned to play a pivotal role in reshaping the future of healthcare.
- The pharmaceutical industry’s expansion, as well as the increased penetration of digital technology and AI integration, are reshaping the market. Furthermore, the R&D process and the rise of drug discovery vendors in rising economies such as China and India drive market growth.
- 80% of research on small and large medicinal compounds is outsourced to pharmaceutical behemoths. This is due to lower prices, a more straightforward process, a larger workforce, and improved quality.
- The market dynamics are also being shaped by the altered pharma business, which includes synergistic medications and sophisticated anti-infection drugs. Virus outbreaks like Ebola and Coronavirus are also expanding the market’s user base.
- Government policies integrate their medical policies, allowing pharma giants to collaborate and build the advanced drug discovery space. Thus, the demand for outsourced drug delivery services is in high demand.
- The surge in respiratory patients with issues like tuberculosis, bronchitis, etc., also consumes a big chunk of the market. These conditions have increased lately due to the post-corona impacts.
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Global Drug Discovery Outsourcing Industry Key Points
- The United States market leads the Drug Discovery Outsourcing market in terms of market share in North America. The growth in the region is attributed to the expanding healthcare research budget, growing pharmaceutical companies, and strong bilateral business ties. The North American region held a substantial share of 35.5% in 2022.
- The United Kingdom Drug Discovery Outsourcing market is another significant market from the European region. The market in the United Kingdom is owed by the technological integration and AI-enabled drug discovery programs that promote cruelty-less procedures.
- The Japan Drug Discovery Outsourcing market is anticipated to thrive at a healthy CAGR during the forecast period. Asia Pacific region leads the market in terms of CAGR. The Japanese market expands based on increasing chronic diseases in the region and the higher geriatric population.
- By workflow type, the lead identification & candidate optimization segment held 32.3% in 2022. This is due to the enhanced selectivity and fewer side effects.
Global Drug Discovery Outsourcing Industry Competitive Landscape
The key vendors work on delivering solutions that are easily flexible, affordable, and of high quality. Key competitors merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
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Global Drug Discovery Outsourcing Industry Key Players
- Albany Molecular Research Inc.
- EVOTEC
- Laboratory Corporation of America Holdings
- GenScript
- Pharmaceutical Product Development, LLC
- Charles River
- WuXi AppTec
- Merck & Co., Inc.
- Thermo Fisher Scientific Inc.
- Dalton Pharma Services
- Oncodesign
- Jubilant Biosys
- DiscoverX Corp.
- QIAGEN
- Eurofins SE
- Syngene International Limited
- Dr. Reddy Laboratories Ltd.
- Pharmaron Beijing Co., Ltd.
- TCG Lifesciences Pvt Ltd.
- Domainex Ltd.
Recent Global Drug Discovery Outsourcing Industry Developments
- Syngene International Limited has added the SynVent integrated drug discovery option, a fully integrated therapeutic discovery and development process. It is likely to deliver a more effective and efficient target validation method.
- Dr. Reddy Laboratories Ltd has signed a pact with EQRx, a biotechnology company, for the discovery, development, and commercialization.
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Global Drug Discovery Outsourcing Industry Segmentation
Workflow Outlook:
- Target Identification & Screening
- Target Validation & Functional Informatics
- Lead Identification & Candidate Optimization
- Preclinical Development
- Other Associated Workflow
Therapeutics Area Outlook:
- Respiratory system
- Pain and Anesthesia
- Oncology
- Ophthalmology
- Hematology
- Cardiovascular
- Endocrine
- Gastrointestinal
- Immunomodulation
- Anti-infective
- Central Nervous System
- Dermatology
- Genitourinary System
Drug Type Outlook:
- Small Molecules
- Large Molecules (Biopharmaceuticals)
Service Type Outlook:
- Chemistry Services
- Biology Services
End-user Outlook:
- Pharmaceutical & Biotechnology companies
- Academic Institutes
- Others
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