Global Drug Discovery Outsourcing Market was valued US$ 7.12 Bn. in 2019 and the total revenue is expected to grow at xx% through 2019 to 2027, reaching US$ 5.10 Bn.
The report has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Drug discovery outsourcing is the procedure which is used to find novel drugs or medicines in different fields such as pharmacology, biotechnology and pharmaceuticals. Drug discovery is a time-intense process and the success rate of the discovery is very low. Various new and small players in the industry who develop drugs and sell them to the big players so that they can scrutinize after the trials and identify whether the drugs are valuable or not.
The MMR report covers all the trends and technologies playing a major role in the growth of the drug discovery outsourcing market over the forecast period. The trend for reformative medicine is gaining popularity because of the efficacy of these medicines. This is hopeful governments to assign funds and grants to increase research in product advance and regenerative drug. Pharmaceutical key players are outsourcing drug detection for regenerative medicines to reduce costs and enhancement efficiency.
Technological development in silico drug designing and accelerating integration of AI in drug detection is playing a dynamic role in the industry progress. Many applications of AI algorithms in drug discovery and design offer opportunities for players to provide specialized drug discovery facilities. It is useful for procedures like predictive analytics, screening, compound selection, and drug repurposing.
North America drug discovery outsourcing market was valued US$ xx Mn. in 2019 and is expected to reach a value of US$ xx Mn. by 2027, with a CAGR of 60% during the forecast period. The high R&D activities thanks to the rising need of the effective drugs have caused the drug discovery outsourcing market growth. Additionally, the progress of research organizations has also contributed to the drug discovery outsourcing market growth.
On the other hand, APAC is expected to register a remarkable market growth. The supportive government enterprises and growing outsourcing activities by the medium scale and small scales companies have led the drug discovery outsourcing market growth in Asia.
The MMR report will also provide an accurate analysis of the contribution of the various segments to the growth of the drug discovery outsourcing market. By therapeutic area, the respiratory system segment expected to grow at the highest 35% CAGR during the forecast period. Higher acceptance of drug discovery outsourcing, coupled with a well-established product collection resulting from outsourcing, is accountable for the high revenue in the market.
By drug type, small molecules segment is expected to grow at a high growth of xx% CAGR during the forecast period. This is attributed to the manufacturing of small molecules is easy and can be manufactured in big amounts with negligible errors.
Major players in the drug discovery outsourcing market have taken several strategic measures, such as facility expansions and partnerships. As in Feb 2020, Charles River Laboratories International Company acquired Citoxlab for USD 510 Mn. Citoxlab is a non-clinical CRO corporation that focuses on regulated safety valuation services, medical device testing and no regulated discovery services.
The objective of the report is to present a comprehensive analysis of the Global Drug Discovery Outsourcing Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Drug Discovery Outsourcing Market dynamics, structure by analyzing the market segments and projects the Global Drug Discovery Outsourcing Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Drug Discovery Outsourcing Market make the report investor’s guide.
Scope of the Global Drug Discovery Outsourcing Market
Global Drug Discovery Outsourcing Market, by Workflow
• Target Identification & Screening
• Target Validation & Functional Informatics
• Lead Identification & Candidate Optimization
• Preclinical Development
• Other Associated Workflow
Global Drug Discovery Outsourcing Market, by Therapeutic Area
• Respiratory System
• Pain and Anesthesia
• Central Nervous System
• Genitourinary System
Global Drug Discovery Outsourcing Market, by Drug Type
• Small Molecules
• Large Molecules (Biopharmaceuticals)
Global Drug Discovery Outsourcing Market, by Region
• North America
• Asia Pacific
o South Korea
• South America
• Middle East and Africa
o GCC Countries
o South Africa
Key players operating in Global Drug Discovery Outsourcing Market
• CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
• WuXi AppTec Co., Ltd.
• Albany Molecular Research Inc. (AMRI)
• GVK Biosciences Private Limited
• Sygnature Discovery
• Pharmaron Beijing Co., Ltd
• WuXi Biologics (Cayman), Inc.
• Domainex Ltd.
• Thermo Fisher Scientific, Inc.
• Jubilant Biosys Ltd.
• Evotec SE
• Eurofins Discovery,
• GenScript Biotech Corporation
• Asclepia MedChem Solutions
• Asinex Ltd.
• AsisChem Inc.
• Aurelia Bioscience Ltd
• Axxam SpA
• Selcia Ltd
• Selvita S.A.
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