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Drug Discovery Outsourcing Market

Drug Discovery Outsourcing Market

by Workflow (Target Identification and Screening, Target Validation and Functional Informatics, Lead Identification and Candidate Optimization, Preclinical Development, Others), by Therapeutic area (Respiratory system, Infectious disease, Oncology, Immunology, Hematology, Cardiovascular, Central Nervous System (CNS), Gastrointestinal, Others), by Drug Type (Small Molecules, Large Molecules), by End User (Pharmaceutical and Biotechnology companies, Academic Institutes, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

Report Code: A14914
Pages: 251
Oct 2022 | 998 Views
Author(s) : Vikita T, Shubham S , Onkar S
Tables: 189
Charts: 70
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Drug Discovery Outsourcing Market Research, 2031

The global Drug Discovery Outsourcing Market Size was valued at $3.6 billion in 2021 and is projected to reach $7.4 billion by 2031, growing at a CAGR of 7.5% from 2022 to 2031. Drug discovery outsourcing is defined as a practice that is used by different companies to reduce the costs of drug development by transferring portions of work to outside suppliers. Drug discovery outsourcing is the beginning phase of the drug development process in which the outsourced activities can be done in various fields' right from drug discovery to the manufacturing of the products. It is the procedure that is used to find new medicines or drugs in different fields such as pharmacology, pharmaceuticals, and biotechnology.

Moreover, the COVID-19 pandemic has impacted all phases of drug development and forced many drug development companies and clinical research organizations (CROs) to put at least some of their clinical studies on hold. While there was a termination or postponement of a large part of clinical trials for various indications, new guidelines for conducting the trials were introduced by the European Medicines Agency (EMA) and the U.S. Food and Drug Administration (FDA). Furthermore, the COVID-19 pandemic increases the shift of pharmaceutical companies toward outsourcing services for R&D activities to reduce drug development time and cost. All of this has accelerated the growth of the drug discovery outsourcing market. The surge in the adoption of AI and technologically advanced software provides better analytical results by reducing the efforts and time taken to complete the screening process before formulating any new drug. Furthermore, it has been estimated that around 75% to 80% of research activities in the pharmaceutical industry are expected to be outsourced in the coming future, which is anticipated to create lucrative opportunities for CROs and academic research institutes and boost the growth of the market.

Drug Discovery Outsourcing Market

The key factors that drive drug Discovery Outsourcing Market Growth are the rise in the prevalence of chronic diseases such as cancer, cardiovascular diseases, diabetes, high blood pressure, and various others, the rise in R&D activities for drug discovery, and the surge in demand for target drug therapy. For instance, according to the report published by IQVIA in June 2022, it has been estimated that oncology trial starts reached historically high levels in 2021, up 56% from 2016 and mostly focused on rare cancer indications, a record 30 oncology novel active substances were initially launched globally in 2021, and a total of 159 have been launched since 2012. Thus, the rise in the number of research activities increases the demand for performing clinical trials to launch the new molecule in the market which increases the demand for outsourcing service provider and hence boost the growth of the market.

Furthermore, the rise in usage of AI in drug discovery as well rapid shift toward patent expiration, biologics, unprecedented downsizing of internal discovery of big pharmaceuticals, and surge in incidences of antibiotic resistance as well as drug resistance that boost the growth of the market. However, the high cost of outsourcing services and stringent government regulations are the major barriers to the growth of the market. Conversely, rising cases of cancer, genetic diseases, chronic diseases, large geriatric population, favorable regulatory environment, and availability of low-cost skilled manpower with high-quality data in developing countries are expected to provide the Drug Discovery Outsourcing Market Opportunity for the growth of the market during the forecast period.

The drug discovery outsourcing market is segmented on the basis of workflow, therapeutic area, drug type, end user, and region. By workflow, it is classified into target identification & screening, target validation & functional informatics, lead identification & candidate optimization, preclinical development, and others. By therapeutic area, it is fragmented into the respiratory system, infectious disease, oncology, immunology, hematology, cardiovascular, central nervous system, gastrointestinal, and others. By drug type, it is bifurcated into small molecules and large molecules. By end user, the market is segregated into pharmaceutical & biotechnology companies, academic institutes, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Workflow Segment review

By workflow, it is segmented into target identification & screening, target validation & functional informatics, lead identification & candidate optimization, preclinical development, and others. In 2021, the target identification and screening segment accounted for the largest share of the market. The dominance of this segment can be attributed to the rapid drug development process and the rise in awareness regarding target selection by using various methods such as assay & readers, automation, and high content screening.

The target validation and functional informatics segment are anticipated to grow at a significant rate during the forecast period owing to the rising prevalence of rare genetic, metabolic and chronic disorders and advancements in technology.

Drug Discovery Outsourcing Market
By Workflow

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Target Identification and Screening segment holds a dominant position in 2021 and would continue to maintain the lead over the forecast period.

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Therapeutic Area Segment review

By therapeutic area, it is bifurcated into the respiratory system, infectious disease, oncology, immunology, hematology, cardiovascular, central nervous system, gastrointestinal, and others. In 2021, the oncology segment accounted for the largest share of the market. The dominance of this segment can be attributed to the rise in the prevalence of cancer cases around the globe which leads to an increase in the demand to conduct R&D activities for the development of targeted drug therapy against the cancerous cell are the key factors that drive the growth of the Drug Discovery Outsourcing Market Size in the upcoming year.

The central nervous system segment is anticipated to grow at a significant rate during the forecast period owing to a rise in the prevalence of neurological disorders and a surge in technological advancement for the discovery of new drug therapies.

Drug Discovery Outsourcing Market
By Therapeutic Area

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Oncology segment holds a dominant position in 2021 and would continue to maintain the lead over the forecast period.

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Drug Type Segment review

By drug type, it is bifurcated into small molecules and large molecules. In 2021, the small molecules segment accounted for the largest share of the market. The dominance of this segment can be attributed to the rapid advancement of biopharmaceutical research and technology for the discovery and some distinct advantages, such as it can be administered orally and can pass through cell membranes to reach intracellular targets more precisely as compared to large molecules.

The large molecules segment is anticipated to grow at a significant rate during the forecast period owing to the rise in the number of approved products worldwide which is attributed to the rising investments by biopharmaceutical companies to develop biologics and biosimilars.

Drug Discovery Outsourcing Market
By Drug Type

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Small Molecules segment holds a dominant position in 2021 and would continue to maintain the lead over the forecast period.

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End User Segment Review

By end user, the Drug Discovery Outsourcing Industry is segmented into pharmaceutical and biotechnology companies, academic institutes, and others. The pharmaceutical and biotechnology companies segment exhibited the highest growth in 2021, and is anticipated to lead during the forecast period, owing to the rising R&D expenditure of pharmaceutical and biopharmaceutical companies which is prompting them to opt for fully integrated or functional outsourcing services, from the early development stage to the late-stage development phase, for drug discovery and development are the key factors that drive the growth of the market in upcoming years.

The academic institute's segment is expected to witness considerable market growth during the forecast period, owing to a surge in government funding to support academic research with the help of outsourcing services to develop target drug therapies.

Drug Discovery Outsourcing Market
By End User

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Pharmaceutical and Biotechnology companies holds a dominant position in 2021 and would continue to maintain the lead over the forecast period.

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Region Segment Review

Region-wise, the drug discovery outsourcing market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a majority of the drug discovery outsourcing market share in 2021 and is anticipated to remain dominant during the forecast period owing to the high adoption rate of technologically advanced AI-based drug discovery systems, increase in healthcare expenditure, and presence of major key players in the country providing outsourcing facilities for the development of novel drug therapies to treat cancer and chronic diseases.

Asia-Pacific is expected to register the fastest CAGR during the forecast period. This is due to highly populated countries along with a high prevalence rate of genetic disorders and cancer. In addition, the favorable regulatory environment and availability of low-cost skilled manpower with high-quality data in these nations, especially in countries such as India and China.

Drug Discovery Outsourcing Market
By Region

2031
North America 
Europe
Asia-Pacific
LAMEA

North America holds a dominant position in 2021 and would continue to maintain the lead over the forecast period.

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The key players that operate in the drug discovery outsourcing market are Curia Global Inc, Charles River Laboratories Inc, Dr. Reddy’s Laboratories, Discover X Corporation, Dalton Pharma Service, Laboratory Corporation of American Holdings, Merck & Co, Syngene International Ltd, TCG Life Science Pvt. Ltd and Thermo Fisher Scientific.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the drug discovery outsourcing market analysis from 2021 to 2031 to identify the prevailing drug discovery outsourcing market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the drug discovery outsourcing market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes an analysis of the regional as well as global drug discovery outsourcing market trends, key players, market segments, application areas, and market growth strategies.

Drug Discovery Outsourcing Market Report Highlights

Aspects Details
Market Size By 2031 USD 7.4 billion
Growth Rate CAGR of 7.5%
Forecast period 2021 - 2031
Report Pages 251
Workflow
  • Target Validation and Functional Informatics
  • Lead Identification and Candidate Optimization
  • Preclinical Development
  • Others
  • Target Identification and Screening
Therapeutic area
  • Cardiovascular
  • Central Nervous System (CNS)
  • Gastrointestinal
  • Others
  • Hematology
  • Respiratory system
  • Infectious disease
  • Oncology
  • Immunology
Drug Type
  • Small Molecules
  • Large Molecules
End User
  • Pharmaceutical and Biotechnology companies
  • Academic Institutes
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players . Charles River Laboratories,, Curia Global Inc, Dr. Reddy's Laboratories, Dalton Pharma Service, Discover X Corporation, Laboratory Corporation of America Holdings, Merck & Co, Syngene International Ltd, Thermo Fisher Scientific, Inc., TCG Life Science Pvt. Ltd
 

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This section provides various opinions of top-level CXOs in the drug discovery outsourcing market. According to several interviews conducted, the drug discovery outsourcing market is expected to witness significant growth in the future, owing to the increase in prevalence of cancer & chronic diseases and surge in investments in R&D activities for drug discovery.

According to the perspectives of CXOs, the drug discovery outsourcing market is expected to witness steady growth in the future. The increasing prevalence rate of metabolic, genetic, & other chronic diseases and technological advancement in drug discovery are anticipated to fuel the market's growth. The surge in pharmaceutical companies' investments in private contract research organizations and academic research institutes to reduce the cost and time for the discovery of new drugs, rising healthcare expenditure, and technological advancement are the key factors driving the market's growth.

However, the high cost of drug discovery as well as high risk of failure is anticipated to hamper the growth of the market to some extent over the forecast period. On the contrary, emerging economies such as India, China, Mexico, and Brazil provide lucrative opportunities for the growth of the market, owing to the availability of low-cost skilled manpower and a large population in developing countries to conduct clinical trials for the development of novel drug therapies. As per CXOs, North America is expected to dominate the global drug discovery outsourcing market during the forecast period, followed by Europe.

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FREQUENTLY ASKED QUESTIONS?

A. The upcoming trends are are the rise in the prevalence of chronic diseases such as cancer, cardiovascular diseases, diabetes, high blood pressure, and various others, the rise in R&D activities for drug discovery, and the surge in demand for target drug therapy.

A. The total market value of Drug Discovery Outsourcing Market is $3,565.82 million in 2021

A. North America is the largest regional market for Drug Discovery Outsourcing.

A. 7,425.62 million is the estimated industry size of Drug Discovery Outsourcing market in 2031

A. Curia Global Inc, Charles River Laboratories Inc, Dr. Reddy’s Laboratories, Discover X Corporation, Dalton Pharma Service, Laboratory Corporation of American Holdings, Merck & Co, Syngene International Ltd, TCG Life Science Pvt. Ltd and Thermo Fisher Scientific are the top companies to hold the market share in Drug Discovery Outsourcing

A. The forecast period in the report is from 2022 to 2031

A. The base year for the report is 2021

A. No, value chain analysis is provided in the Drug Discovery Outsourcing Market report

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