Global Drug Discovery Outsourcing Market Size study & Forecast, by Workflow (Target Identification & Screening, Target Validation & Functional Informatics, Lead Identification & Candidate Optimization, Preclinical Development, Other Associated Workflow),

Global Drug Discovery Outsourcing Market Size study & Forecast, by Workflow (Target Identification & Screening, Target Validation & Functional Informatics, Lead Identification & Candidate Optimization, Preclinical Development, Other Associated Workflow), by Therapeutics Area (Respiratory system, Pain and Anesthesia, Oncology, Ophthalmology, Others), by Drug Type (Small Molecules, Large Molecules (Biopharmaceuticals)), by Service Type (Chemistry Services, Biology Services), by End user (Pharmaceutical & Biotechnology companies, Academic Institutes, Others) and Regional Analysis, 2023-2030

Global Drug Discovery Outsourcing Market is valued approximately USD 3.5 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 7.5% over the forecast period 2023-2030. The Drug Discovery Outsourcing Market refers to the practice of pharmaceutical and biotechnology companies outsourcing various stages of the drug discovery and development process to contract research organizations (CROs) or other specialized service providers. It involves delegating specific tasks and responsibilities related to drug discovery, such as target identification, hit-to-lead optimization, preclinical and clinical trials, and regulatory submissions, to external entities. The major driving factors for the Global Drug Discovery Outsourcing Market is rising prevalence of cardiovascular diseases and growing geriatric population. Moreover, rising initiatives by key market players and advancements in formulation is creating lucrative growth opportunity in the Global Drug Discovery Outsourcing Market over the forecast period.

The high burden of chronic diseases such as cardiovascular diseases, cancer, and respiratory diseases in the region is expected to drive market growth in the drug discovery outsourcing sector. For example, according to the CDC National Center for Health Statistics, as of 2021, 4.9% of adults aged 18 and over in the United States had coronary heart disease. This increasing prevalence of chronic diseases creates a growing demand for the development of safe and effective treatments, thereby accelerating the need for collaborations with Contract Research Organizations (CROs). Furthermore, the strategic initiatives undertaken by key players, including partnerships and acquisitions, are expected to contribute to the growth of the drug discovery outsourcing market in the region. An example of such initiatives is the collaboration agreement between Shanghai Fosun Pharmaceutical (Group) Co., Ltd and Insilico Medicine in January 2022. This partnership aimed to leverage Insilico's AI-driven drug discovery and development capabilities to advance the discovery of drugs targeting various global targets. The collaboration involved an investment of USD 13 million for R&D collaboration projects, focusing on the research and development of four biological targets. However, the high cost of Drug Discovery Outsourcing stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Drug Discovery Outsourcing Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominates the drug discovery outsourcing market due to the presence of established pharmaceutical and biotechnology companies. The United States, in particular, has a robust outsourcing industry and a favorable regulatory environment, driving market growth. Factors such as advanced healthcare infrastructure, strong research and development capabilities, and increasing demand for novel therapeutics contribute to market growth in this region. The Asia Pacific region is experiencing rapid growth in the drug discovery outsourcing market. Countries such as China, India, Japan, and South Korea are emerging as major outsourcing hubs, primarily due to their large population, cost advantages, and growing expertise in life sciences. Increasing investments in healthcare infrastructure, rising disposable incomes, and favorable government policies are driving market growth in this region.

Major market player included in this report are:
Albany Molecular Research Inc.
EVOTEC
Laboratory Corporation of America Holdings
GenScript
Pharmaceutical Product Development, LLC
Charles River
WuXi AppTec
Merck & Co., Inc.
Thermo Fisher Scientific Inc.
Dalton Pharma Services

Recent Developments in the Market:
In November 2022, Sanofi, a leading pharmaceutical company, and Insilico Medicine, a clinical-stage biotechnology company, announced a significant drug development deal worth USD 1200 million. As part of this agreement, Sanofi will utilize Insilico's AI platform, Pharma.AI, to accelerate drug development efforts focused on up to six new targets.

Global Drug Discovery Outsourcing Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Workflow, Therapeutics Area, Drug Type, Service Type, End user, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Workflow offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Workflow:
Target Identification & Screening
Target Validation & Functional Informatics
Lead Identification & Candidate Optimization
Preclinical Development
Other Associated Workflow
By Therapeutics Area:
Respiratory system
Pain and Anesthesia
Oncology
Ophthalmology
Others
By Drug Type:
Small Molecules
Large Molecules (Biopharmaceuticals)
By Service Type:
Chemistry Services
Biology Services
By End user:
Pharmaceutical & Biotechnology companies
Academic Institutes
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Albany Molecular Research Inc.
EVOTEC
Laboratory Corporation of America Holdings
GenScript
Pharmaceutical Product Development, LLC
Charles River
WuXi AppTec
Merck & Co., Inc.
Thermo Fisher Scientific Inc.
Dalton Pharma Services

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.