Drug Discovery Outsourcing Market Size, Share, Growth Report 2032

Drug Discovery Outsourcing Market

Drug Discovery Outsourcing Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Pharmaceutical Report Format : PDF Report Code: ZMR-6000 Status : Upcoming
Market Size in 2023 Market Forecast in 2032 CAGR (in %) Base Year
USD 3.79 Billion USD 7.20 Billion 7.4% 2023

Drug Discovery Outsourcing Market

Description

Drug Discovery Outsourcing Market Insights

According to the report published by Zion Market Research, the global Drug Discovery Outsourcing Market size was valued at USD 3.79 Billion in 2023 and is predicted to reach USD 7.20 Billion by the end of 2032. The market is expected to grow with a CAGR of 7.4% during the forecast period. The report analyzes the global Drug Discovery Outsourcing Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Labeling Equipment Market industry.

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Global Drug Discovery Outsourcing Market: Overview

Drug discovery outsourcing is a method to find novel medicine or drugs in various fields like pharmaceutical, biotechnology, and pharmacology. This method is a time-intensive process along with a very low success rate of drug discovery. However, small and big manufacturers in the sector develop new drugs and sell them to prominent market players to scrutinize them after conducting clinical trials to identify and ensure the effectiveness of the drugs.

Global Drug Discovery Outsourcing Market: Growth Factors

One of the major factors driving the global drug discovery outsourcing market is the outsourcing of research and development activities to private contract research organizations and academic institutes to reduce the cost and drug development timelines. Prominent pharmaceutical companies are collaborating with manufacturing facilities in developing countries that are open to the high availability of skilled labor, quality data, and low costs of manpower. However, breaking down the drug discovery process into different and small steps like lead generation, high-speed screening, hit confirmation, lead optimization, and many more has permitted companies to specialize in their core services.

Several other factors encouraging the pharma companies to outsource their time-consuming services are chasing innovations, cross-cutting, gaining access to specialized knowledge, and technology along with growing agility and speed. The surging technological developments in drug designing process particularly, in silico drugs and the fast integration of artificial intelligence in drug detection process are boosting the growth of the global drug discovery outsourcing market. Several major applications of artificial intelligence algorithms and designs in the drug discovery offer many specialized drug discovery facilities to the key market players and thus creating a lucrative growth opportunities for new entrants in the market globally.

Global Drug Discovery Outsourcing Market: Segmentation

The global drug discovery outsourcing market can be segmented into drug type, workflow, therapeutic area, and region.

By drug type, the market can be segmented into large molecules and small molecules. The small molecules segment accounts for the largest share in the global drug discovery outsourcing market owing to its vital role in the development of advanced medical treatment for patients across the globe.

By workflow, the market can be segmented into preclinical development, lead identification & candidate optimization, target validation & functional informatics, target identification & screening, and others. The lead identification & candidate optimization segment holds the largest share in the global drug discovery outsourcing market as it has improved efficiencies of drug developers. Moreover, the emergence of advanced silico techniques has boosted the drug identification process and hence contributed vigorously to the growth of the segment.

By therapeutic area, the market can be segmented into gastrointestinal, endocrine, genitourinary system, dermatology, central nervous system, anti-infective, immunomodulation, cardiovascular, hematology, ophthalmology, oncology, pain & anesthesia, and respiratory system. The respiratory system segment holds hegemony over others.

Drug Discovery Outsourcing Market: Report Scope

Report Attributes Report Details
Report Name Drug Discovery Outsourcing Market
Market Size in 2023 USD 3.79 Billion
Market Forecast in 2032 USD 7.20 Billion
Growth Rate CAGR of 7.4%
Number of Pages 219
Key Companies Covered QIAGEN, DiscoverX Corporation, Jubilant Biosys, Oncodesign, Dalton Pharma Services, Thermo Fisher Scientific Inc., Merck & Co., Inc., WuXi AppTec, Charles River, Pharmaceutical Product Development, LLC, GenScript, Laboratory Corporation of America Holdings, EVOTEC, Albany Molecular Research Inc., GenScript Biotech Corporation, Eurofins Discovery, Evotec SE, Jubilant Biosys Ltd., Thermo Fisher Scientific, Inc., Domainex Ltd., WuXi Biologics (Cayman), Inc., Pharmaron Beijing Co., Ltd, Sygnature Discovery, GVK Biosciences Private Limited, Albany Molecular Research Inc, WuXi AppTeCc Co., Ltd., and CHARLES RIVER LABORATORIES INTERNATIONAL, INC., Aurelia Bioscience Ltd, Asclepias MedChem Solutions, Grand River Aseptic Manufacturing, and Lyophilization Technology, Inc
Segments Covered By drug type, By workflow, By therapeutic area and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2023
Historical Year 2018 to 2022
Forecast Year 2024 - 2032
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Global Drug Discovery Outsourcing Market: Regional analysis

North America accounts for the largest share in the global drug discovery outsourcing market owing to the growing adoption of advanced technology along with the presence of prominent market players and robust research infrastructure in the region. The growing investments in research and development activities to discover innovative drugs have contributed vigorously to the regional market growth.

Asia Pacific is anticipated to witness huge growth during the forecast period due to the growing favorable regulatory environment and wide availability of low-cost manpower. The region has emerged as a hub for outsourcing drug activities particularly due to the availability of high-quality data.

Global Drug Discovery Outsourcing Market: Competitive Players

Some of the significant players in the global drug discovery outsourcing market are QIAGEN, DiscoverX Corporation, Jubilant Biosys, Oncodesign, Dalton Pharma Services, Thermo Fisher Scientific Inc., Merck & Co., Inc., WuXi AppTec, Charles River, Pharmaceutical Product Development, LLC, GenScript, Laboratory Corporation of America Holdings, EVOTEC, Albany Molecular Research Inc., GenScript Biotech Corporation, Eurofins Discovery, Evotec SE, Jubilant Biosys Ltd., Thermo Fisher Scientific, Inc., Domainex Ltd., WuXi Biologics (Cayman), Inc., Pharmaron Beijing Co., Ltd, Sygnature Discovery, GVK Biosciences Private Limited, Albany Molecular Research Inc, WuXi AppTeCc Co., Ltd., and CHARLES RIVER LABORATORIES INTERNATIONAL, INC., Aurelia Bioscience Ltd, Asclepias MedChem Solutions, Grand River Aseptic Manufacturing, and Lyophilization Technology, Inc.

Global Drug Discovery Outsourcing Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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FrequentlyAsked Questions

One of the major factors driving the global drug discovery outsourcing market is the outsourcing of research and development activities to private contract research organizations and academic institutes to reduce the cost and drug development timelines. Prominent pharmaceutical companies are collaborating with manufacturing facilities in developing countries that are open to the high availability of skilled labor, quality data, and low costs of manpower.

Some of the significant players in the global drug discovery outsourcing market are QIAGEN, DiscoverX Corporation, Jubilant Biosys, Oncodesign, Dalton Pharma Services, Thermo Fisher Scientific Inc., Merck & Co., Inc., WuXi AppTec, Charles River, Pharmaceutical Product Development, LLC, GenScript, Laboratory Corporation of America Holdings, EVOTEC, and Albany Molecular Research Inc.

North America accounts for the largest share in the global drug discovery outsourcing market owing to the growing adoption of advanced technology along with the presence of prominent market players and robust research infrastructure in the region. The growing investments in research and development activities to discover innovative drugs have contributed vigorously to the regional market growth.

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