Product ID: SQSG35D2054
Report ID: SQSG35D2054 | Region: Global | Published Date: December, 2022 | Pages: 157
Global Drug Discovery Outsourcing Market size was valued at USD 12.32 billion in 2021 and is expected to reach USD 31.4 billion by 2028, at a CAGR of 14.3% over the forecast period (2022-2028).
Rising partnerships between public and private entities accelerate drug discovery processes, which, in turn, increases the global demand for outsourcing services for drug discovery. The ultimate goal of a preclinical drug discovery program is to deliver one or more clinical candidate molecules, each of which has sufficient evidence of biological activity at a target relevant to the disease and sufficient safety and drug-like properties so that it can be entered into human testing.
Growing R&D expenditure in the pharmaceutical & biopharmaceutical industry, increasing demand for outsourcing analytical testing services, initiatives for research on rare diseases and orphan drugs, and the high cost of in-house drug development are creating new revenue pockets in the drug discovery services market.
To expedite the R&D process, many pharmaceutical and biotechnology companies teamed up with CROs through long-term agreements, partnerships, and collaborations across the globe. For instance, in May 2021, Eurofins Scientific SE (France) launched Adaptive immune response models to understand the immune consequences of SARS-CoV-2 and other infectious diseases for drug discovery.
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Global Drug Discovery Outsourcing Market is segmented on the basis of drug type, workflow, therapeutic area, application, and region. By drug type, the market is segmented into small molecule, large molecule, and biologics. By workflow, the market is segmented into Target Identification & screening, target validation & functional informatics, lead identification & candidate optimization, preclinical development, and others. By therapeutic area, the market is segmented into Respiratory system, oncology, ophthalmology, haematology, cardiovascular, endocrine, gastrointestinal, immunomodulation, anti-infective, central nervous system, dermatology, and genitourinary system. By application, the market is segmented into Hospitals & clinics, medical laboratories, and others. By region, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa.
Analysis by Drug Type
Small molecules play a significant role in the development of innovative treatments for patients worldwide. Sales of half of the specialty medicines are attributable to small molecule applications.
Its role is also visible in the recent approval trends. In 2019, the FDA approved 48 new drugs, 79% of which were composed of small molecules. Small molecules continue to play a vital role in the innovation of treatments across four key therapeutic areas: oncology, cardiovascular, autoimmune, and respiratory diseases.
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North America held the largest global drug discovery outsourcing market in 2021.
The United States dominates North America market. As per the CDC, I.e., the Centers for Disease Control and Prevention, around 1.7 million new cancer cases were reported in 2019 in the US, and about half a million people died of cancer. For every 100,000 individuals in the US, there are 439 new cancer cases and 146 cancer deaths. Furthermore, the large presence of contract research organizations will positively contribute to the growth of the cancer immunotherapy drug discovery outsourcing market.
Europe is also expected to emerge in the global competition due to high capital spending on healthcare infrastructure and streamlining of approval processes. This has led to the safe and quick approval of clinical drugs and treatments in the region, hence contributing to the increasing demand for cancer immunotherapy drugs and treatment options.
Asia Pacific will witness increasing demand for drug discovery outsourcing due to emerging economies such as China and India. The government bodies in these countries have positive reimbursement policies that also provide an impetus to the market in this region.
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Increasing Investment to Develop Healthcare Infrastructure will Bring Lucrative Opportunities for Global Drug Discovery Outsourcing Market
Stringent Policies and High Manufacturing Costs to Hinder Drug Delivery Outsourcing Market Growth
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Global Drug Discovery Outsourcing Market is highly fragmented with the presence of several small and large market players operating all over the world. Major companies of the market are implementing on several business strategies such as new product launches, acquisition & mergers, collaboration, and partnerships for the expansion of their geographical presence and their product portfolio.
Top Player’s Company Profiles
• In 2021, the monoclonal antibodies segment dominated the market with the largest market share of 46% and market revenue of 450.85 million.
The drug type segment is divided into immunomodulators, oncolytic viral therapies and cancer vaccines, monoclonal antibodies, and others. In 2021, the monoclonal antibodies segment dominated the market with the largest market share of 46% and market revenue of 450.85 million.
Rise in Cancer Cases will Shape Future of Global Drug Discovery Outsourcing Market
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Drug Discovery Outsourcing Market analysis, pharmaceutical companies invest in R&D to deliver high-quality and innovative products to the market. Trends suggest that the top pharma companies are increasing their R&D efficiencies to see returns in the longer term and expand their geographical base. The market might witness restraints due to high manufacturing cost and government policies, however channeling it by improving product portfolio will provide an edge over their competitors.
|Market size value in 2021||USD 12.32 billion|
|Market size value in 2028||USD 31.4 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Drug Discovery Outsourcing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Drug Discovery Outsourcing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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