Dublin, June 20, 2023 (GLOBE NEWSWIRE) -- The "Drug Discovery Outsourcing Market Size, Share & Trends Analysis Report 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global drug discovery outsourcing market size is expected to reach USD 6.2 billion by 2030 and is expected to expand at a CAGR of 7.3% from 2023 to 2030.
The COVID-19 pandemic has brought pharmaceutical companies in limelight. Drug discovery is a costly and lengthy process. This has urged pharmaceutical and biotech companies to opt for outsourcing their research activities to academic and private Contract Research Organizations (CROs). Rising partnerships between public or private entities accelerate drug discovery processes, which, in turn, increase the global demand for outsourcing services for drug discovery.
This scenario is expected to sustain post-Covid implications as well. A rise in cases of chronic diseases has urged companies to develop medicines that extend life expectancy. According to the United Nations, people aged 65 years between 2015 and 2020 are expected to live an additional 17 years.
Some of the key therapeutic areas where companies are actively involved in outsourcing include oncology, cardiovascular, and anti-infectives. In November 2020, AstraZeneca collaborated with 9 of the foremost oncology medical centers to expedite research in some of the hardest-to-treat cancers. The company will be funding clinical and non-clinical research proposals from members of this network.
The COVID-19 pandemic has demonstrated the value of drug discovery and development. People across the world are waiting for a vaccine while several companies are proactively involved in developing an effective vaccine to combat COVID-19. Pfizer Inc. and BioNTech SE received first approval for the vaccine following a worldwide Phase 3 trial of a potential strain to combat the virus.
As for clinical trials, many of them are halted, while some are functional by adopting remote monitoring technologies. Thus, the pandemic has brought the pharmaceutical industry to center stage with drug discovery outsourcing becoming a key aspect to develop effective treatments against the virus. This is expected to boost the market revenue for the next 2 years i.e. a short-term boom, after which it shall regain its original growth curve.
Companies Mentioned
- Albany Molecular Research Inc.
- EVOTEC
- Laboratory Corporation of American Holdings
- GenScript
- Pharmaceutical Product Development LLC
- Charles River Laboratory
- Wuxi AppTec
- Merck & Co. Inc.
- Thermos 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.
Drug Discovery Outsourcing Market Report Highlights
- In 2022, the lead identification & candidate optimization segment dominated the market. It is one of the most critical processes in drug discovery.
- Oncology and anti-infective are projected to be among the fastest-growing segments during the forecast period.
- Small molecules dominated the market in 2022. The segment is also projected to register a high CAGR during the forecast period. This, however, may change in the short term with higher emphasis on biologics.
- Asia Pacific is projected to be the fastest-growing regional market during the forecast period.
- The growth can be attributed to the government initiatives to forge alliances with U.S. pharmaceutical companies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 187 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $3.5 Billion |
| Forecasted Market Value (USD) by 2030 | $6.2 Billion |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Drug Discovery Outsourcing Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Market Dynamics
3.3.1. Market driver analysis
3.3.2. Market restraint analysis
3.3.3. Industry challenges
3.4. Drug Discovery Outsourcing Market Analysis Tools
Chapter 4. Drug Discovery Outsourcing Market: Workflow Estimates & Trend Analysis
4.1. Definitions and Scope
4.1.1. Target Identification & Screening
4.1.2. Target Validation & Functional Informatics
4.1.3. Lead Identification & Candidate Optimization
4.1.4. Preclinical Development
4.1.5. Other Associate Workflow
4.2. Drug Discovery Outsourcing Market Share, 2022 & 2030
4.3. Segment Dashboard
4.4. Global Drug Discovery Market by Workflow Outlook
4.5. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
4.5.1. Target Identification & Screening
4.5.1.1. Target Identification & Screening market estimates and forecast 2018 to 2030 (USD Million)
4.5.2. Target Validation & Functional Informatics
4.5.2.1. Target Validation & Functional Informatics Market estimates and forecast 2018 to 2030 (USD Million)
4.5.3. Lead Identification & Candidate Optimization
4.5.3.1. Lead Identification & Candidate Optimization Market estimates and forecast 2018 to 2030 (USD Million)
4.5.4. Preclinical Development
4.5.4.1. Preclinical Development Market estimates and forecast 2018 to 2030 (USD Million)
4.5.5. Other Associate Workflow
4.5.5.1. Other Associate Workflow Market estimates and forecast 2018 to 2030 (USD Million)
Chapter 5. Drug Discovery Outsourcing Market: Therapeutic Area Estimates & Trend Analysis
5.1. Definitions and Scope
5.1.1. Respiratory System
5.1.2. Pain and Anesthesia
5.1.3. Oncology
5.1.4. Ophthalmology
5.1.5. Hematology
5.1.6. Cardiovascular
5.1.7. Endocrine
5.1.8. Gastrointestinal
5.1.9. Immunomodulation
5.1.10. Anti-infective
5.1.11. Central Nervous System
5.1.12. Dermatology
5.1.13. Genitourinary System
5.2. Drug Discovery Outsourcing Market Share, 2022 & 2030
5.3. Segment Dashboard
5.4. Global Drug Discovery Outsourcing Market by Drug Type Outlook
5.5. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
5.5.1. Respiratory System
5.5.1.1. Respiratory System market estimates and forecast 2018 to 2030 (USD Million)
5.5.2. Pain and Anesthesia
5.5.2.1. Pain and Anesthesia market estimates and forecast 2018 to 2030 (USD Million)
5.5.3. Oncology
5.5.3.1. Oncology market estimates and forecast 2018 to 2030 (USD Million)
5.5.4. Ophthalmology
5.5.4.1. Ophthalmology market estimates and forecast 2018 to 2030 (USD Million)
5.5.5. Hematology
5.5.5.1. Hematology market estimates and forecast 2018 to 2030 (USD Million)
5.5.6. Cardiovascular
5.5.6.1. Cardiovascular market estimates and forecast 2018 to 2030 (USD Million)
5.5.7. Endocrine
5.5.7.1. Endocrine market estimates and forecast 2018 to 2030 (USD Million)
5.5.8. Gastrointestinal
5.5.8.1. Gastrointestinal market estimates and forecast 2018 to 2030 (USD Million)
5.5.9. Immunomodulation
5.5.9.1. Immunomodulation market estimates and forecast 2018 to 2030 (USD Million)
5.5.10. Anti-infective
5.5.10.1. Anti-infective market estimates and forecast 2018 to 2030 (USD Million)
5.5.11. Central Nervous System
5.5.11.1. Central Nervous System market estimates and forecast 2018 to 2030 (USD Million)
5.5.12. Dermatology
5.5.12.1. Dermatology market estimates and forecast 2018 to 2030 (USD Million)
5.5.13. Genitourinary System
5.5.13.1. Genitourinary System market estimates and forecast 2018 to 2030 (USD Million)
Chapter 6. Drug Discovery Outsourcing Market: Drug Type Estimates & Trend Analysis
6.1. Definitions and Scope
6.1.1. Chemistry Services
6.1.2. Biology Services
6.2. Drug Discovery Outsourcing Market Share, 2022 & 2030
6.3. Segment Dashboard
6.4. Global Drug Discovery Market by Drug Type Outlook
6.5. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
6.5.1. Small Molecule
6.5.1.1. Small Molecule Market estimates and forecast 2018 to 2030 (USD Million)
6.5.2. Large Molecule
6.5.2.1. Large Molecule Market estimates and forecast 2018 to 2030 (USD Million)
Chapter 7. Drug Discovery Outsourcing Market: Service Type Estimates & Trend Analysis
7.1. Definitions and Scope
7.1.1. Chemistry Services
7.1.2. Biology Services
7.2. Drug Discovery Outsourcing Market Share, 2022 & 2030
7.3. Segment Dashboard
7.4. Global Drug Discovery Market by Type Outlook
7.5. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
7.5.1. Chemistry Services
7.5.1.1. Chemistry Services market estimates and forecast 2018 to 2030 (USD Million)
7.5.2. Biology Services
7.5.2.1. Biology Services Market estimates and forecast 2018 to 2030 (USD Million)
Chapter 8. Drug Discovery Outsourcing Market: End-user Estimates & Trend Analysis
8.1. Definitions and Scope
8.1.1. Pharmaceutical & Biotechnology Companies
8.1.2. Academic Institutes
8.1.3. Others
8.2. Drug Discovery Outsourcing Market Share, 2022 & 2030
8.3. Segment Dashboard
8.4. Global Drug Discovery Market by End-user Outlook
8.5. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
8.5.1. Pharmaceutical & Biotechnology Companies
8.5.1.1. Pharmaceutical & Biotechnology Companies market estimates and forecast 2018 to 2030 (USD Million)
8.5.2. Academic Institutes
8.5.2.1. Academic Institutes Market estimates and forecast 2018 to 2030 (USD Million)
8.5.3. Others
8.5.3.1. Others Market estimates and forecast 2018 to 2030 (USD Million)
Chapter 9. Drug Discovery Outsourcing Market: Regional Estimates & Trend Analysis
Chapter 10. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/g2rqzn
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