According to a new report published by UnivDatos Markets Insights, the Drug discovery outsourcing market was valued at USD 3 billion in 2021 is expected to grow at a CAGR of 7% from 2022-2030. The analysis has been segmented into Type (Medical Chemistry Service and Biology Service); Drug Type (Small Molecule and Large Molecules (Biopharmaceuticals)); Therapeutic Area (Oncology, Infectious Disease, Respiratory Disease, Cardiovascular, Gastrointestinal, and Others); and Region/Country.
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The Drug Discovery Outsourcing Market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Drug Discovery Outsourcing Market. The Drug Discovery Outsourcing Market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Drug Discovery Outsourcing Market at the global and regional levels.
Key Market Dynamics
Over the past decade, because of expanding global competition, players engaged in the biotech and pharma industry are essentially focusing on research development to gain a competitive edge. Drug discovery outsourcing has also gained a lot of support because of internal and external innovations in the pharmaceutical industry being accelerated by the economic environment and rapid technological advancements. Most external innovations take place in a variety of settings, including contract research organizations (CROs), university labs, research laboratories, and venture capital-based startups. Moreover, there have been several various challenges in the pharmaceutical industry over the past few decades that point to a few key areas. Investors anticipate higher returns, market competition from generics continues to rise, and rising consumer complaints about the high costs of drugs have led to the growth of drug discovery outsourcing. In addition, the development of new drugs continues to trend toward steep costs. This pattern is probably going to go on during the conjecture time frame. The effectiveness of drug discovery and development is becoming an increasingly important focus for pharmaceutical companies.
FIG. 1 Global Drug Discovery Outsourcing Market Revenue, by region 2021 (% Share) |
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Source: UnivDatos Market Insights
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COVID-19 Impact
Due to the high demand for vaccine discovery from numerous pharmaceutical and biotech companies over the past three years, COVID-19 had a significant impact on the market for drug discovery. Outsourcing drug discovery has emerged as a crucial component in the development of virus treatments that work.
The global Drug Discovery Outsourcing Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By type, the market is bifurcated into medical chemistry service and biology service. Among these, medical chemistry service captured the majority share of the Drug Discovery Outsourcing Market in 2021.
On the basis of therapeutic area, the market is bifurcated into oncology, infectious disease, respiratory disease, cardiovascular, gastrointestinal, and others. The oncology held a major share of the Drug Discovery Outsourcing Market in 2020 and are expected to grow at a substantial CAGR during the forecasted period.
Drug Discovery Outsourcing Market Geographical Segmentation Includes:
North America (U.S., Canada, and the Rest of North America)
Europe (Germany, UK, France, Italy, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, and Rest of Asia-Pacific)
Rest of the World
North America dominated the drug discovery outsourcing market in 2021 due to the development of technology, the presence of well-established research infrastructure and key players, and increased investments in drug discovery RD. The increasing demand for efficiency, quality, and innovation is anticipated to contribute to market expansion, as outsourcing is no longer solely about cost reduction.
The major players targeting the Global Drug Discovery Outsourcing Market:
Company Name | Company Logo | Revenue (2021) |
Curia Global, Inc. | USD XX Bn | |
Laboratory Corporation of America Holdings | USD XX Bn | |
Genscript | USD XX Bn | |
Thermo Fisher Scientific Inc. | USD XX Bn | |
Charles River Laboratories | USD XX Bn | |
WuXi AppTec | USD XX Bn | |
Merck Co., Inc. | USD XX Bn | |
Qiagen | USD XX Bn | |
Jubilant Biosys Ltd. | USD XX Bn |
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Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Drug Discovery Outsourcing Market. The major players have been analyzed by using research methodologies such as Porters Five Forces Analysis for getting insight views on global competition.
Recent Developments:
November 2022: Sanofi and Insilico Medicine, a clinical-stage biotechnology company, inked USD 1200 million Drug Development Deal. The agreement will see Sanofi use Insilicos AI platform, Pharma.AI, to advance drug development in up to six new targets.
October 2022: Amphista Therapeutics, a biotechnology company focusing on drug discovery projects that use targeted protein degradation (TPD), collaborated with Domainex, a medicines research service partner, as a partner to provide integrated drug discovery services for its research programs. Amphista will be benefitted from the expertise in protein production, assay biology, and medicinal chemistry of Domainex.
Key questions resolved through this analytical market research report include:
What are the latest trends, new patterns, and technological advancements in the Drug Discovery Outsourcing Market?
Which factors are influencing the Drug Discovery Outsourcing Market over the forecast period?
What are the global challenges, threats, and risks in the Drug Discovery Outsourcing Market?
Which factors are propelling and restraining the Drug Discovery Outsourcing Market?
What are the demanding global regions of the Drug Discovery Outsourcing Market?
What will be the global market size in the upcoming years?
What are the crucial market acquisition strategies and policies applied by global companies?
What are the descriptive profiles of key companies along with their SWOT analysis?
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Drug Discovery Outsourcing Market Report Coverage
